Financial Agreements | Pre Nauptial Agreements

Financial binding agreement is a written agreement, which complies with Part VIIIA or Part VIIIAB of the Family Law Act 1975 (“the act”).  Financial agreements deal with the often difficult issue of how to divide property and financial resources in the event of a relationship breakdown.It is possible for all couples to make a financial agreement, whether they be hetero defacto, same sex de facto or married.

For a binding financial agreement to be legally valid, a number of requirements have to be met. These include:

• each party must have received independent legal and advice before signing the agreement
• each party’s solicitor must provide a certificate that such advice has been given
• the agreement must clearly say that it is an agreement under the appropriate section of the Family Law Act
• each party must have signed the agreement
• each party must receive a copy of the signed agreement

The different types of financial agreements are:

• Binding child support agreements
• Financial agreement | Pre Nuptial (s90B);
• Financial agreement in contemplation of a de facto relationship (s90UB);
• Financial agreement during a marriage (s90C);
• Financial agreement during a de facto relationship (
• Financial agreements after divorce order is made(s90D); or
• Financial agreement after a breakdown of a de facto relationship (s90UD).

This article provides basic information only and is not a substitute for a professional or legal advice . If you are seeking a legal advice on financial binding agreements, you should get advice from a family lawyer.