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Pre Separation Agreements 

Prenup Agreements 

Prenup lawyers like Accessible Family Law can help you negotiate and document a binding and enforceable prenup that both protects your interests and gives everyone certainty in your relationship.

What is a Binding Financial Agreement 

A binding financial agreement is an agreement under the Family Law Act that sets out how assets are divided after a separation.

 A financial agreement entered into before or during a marriage or de facto relationship (prior to separation) is sometimes called a “prenup”.

A prenup financial agreement requires careful drafting and procedures to ensure that it is binding under the Family Law Act. A prenup lawyer can help you ensure that your agreement complies with all of the requirements.

Why would you want a prenup?

The main point of a prenup is to avoid later litigation.

The time when you and your spouse are getting along well and making good decisions together is the perfect time to discuss and agree on how things will go in the future regarding your financial assets and contributions.

When can you get a prenup lawyer involved?

While people commonly think a prenup is only something you do before getting married, in Australia a prenup can be entered into by married or de facto couples at any time before or during their relationship.

That way, if you separate in the future you have the certainty of knowing what the outcomes will be, rather than leaving it up to the risks of a Court making decisions that you cannot predict.

Should everyone get a prenup?

Not everyone needs or wants a prenup. However, we find that clients wanting to engage us as prenup lawyers typically fall into the following categories;

  1. Those who have gone through previous separations and litigation, and want to avoid future litigation;
  2. Those who are entering a relationship with significant assets; or
  3. Those who receive a large gift or inheritance during a relationship.

 Prenups can be extremely complex and may not always be the best option.

As prenup lawyers we can provide you with all the advice you need to consider whether a prenup will provide the outcome you seek.  

How do we ensure a prenup is binding?

The best way to answer this is just to say: that’s our job as prenup lawyers.

However, the more detailed version is that we ensure that all of the requirements of the Family Law Act are met when we negotiate, draft and finalise a prenup. While this means ensuring that the agreement ticks all the relevant boxes, it also includes ensuring that:

  1. The agreement is signed by you both without duress, coercion or fear; and
  2. Everyone got proper independent legal advice before signing the agreement.

Do you and your spouse need separate lawyers for a prenup?

Yes, you and your spouse need to engage separate lawyers for a prenup.

Ensuring that the other lawyer is also an experienced prenup lawyer is an essential aspect so that the agreement will be binding and both parties receive accurate advice.

We work closely with other prenup lawyers and can provide you with details of those firms so that your spouse can make enquiries and appoint a firm with the requisite prenup expertise.

How do we prepare a prenup?

We will take you through 4 main steps when preparing a prenup:

  1. We meet with you for a consultation where we review your assets, liabilities and explain your options. If you’re keen to proceed we move to step 2.
  2. We draft a letter to your spouse inviting them to appoint a lawyer and commence negotiations on the terms of the prenup. Once your spouse’s lawyer responds to us we move to step 3.
  3. We negotiate with your spouse’s lawyer, exchange proof of assets and liabilities and if agreement is reached move to step 4.
  4. We finalise the prenup and each party and their lawyer signs off after receiving specific advice on the prenup.

Throughout the above steps you will be receiving detailed advice on the terms of the agreement so that you are informed and in control.

How can you get started?

Click Here to get in touch and we can get started on your prenup financial agreement today.

Our Blog

May 7 2024
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Binding financial agreements (BFAs) are an important element for formalising property settlements under the Family Law Act. In this guide we’ll work through the fundamental elements of a binding financial agreement so that you...

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Accessible Family Law acknowledges the First Nations People paying respect to Elders past, present and future as the traditional custodians of this land.  We live, learn and work on the lands of the Bunurong people of the Kulin Nation.  flags 2