As Brisbane’s leading Family Law specialists, the Financial Agreement will be prepared correctly and will prevent the Family Law Court from interfering.
Financial agreements or prenuptial agreements as they are sometimes referred to are written private agreements in which parties to a marriage or de facto relationship can document their agreement as to the division of:
- Superannuation and address
- Spousal maintenance issues
Financial agreements can be entered into, Before, During, and After the end of a de facto relationship or marriage.
Provided the financial agreement is prepared correctly. It will prevent the family law court from interfering with or making orders inconsistent with what is agreed and contained in the financial agreement.
Financial agreements can include third parties such as:
- Family members
- Family companies and trusts
There is no requirement for a financial agreement to be approved or registered with any family law court. Financial agreements which are prepared properly are the only method of resolving property and spousal maintenance disputes without a court order.
Financial agreements can be used to:
- Limit the possibility of estate claims
- Provide greater protection of assets
- Protect the accumulation of significant pre-relationship assets
- Protect assets for children of a private relationship or to
- Protect expected substantial inheritance particularly in farming cases where the family fortune may constitute considerable rural property
- Protect loans from a spouse’s parent or other third party
- Protect a granny flat investment where a parent or parent of one of the spouses applies funds to the matrimonial home to facilitate extension or renovation to accommodate them.
To ensure that financial agreements are effective, it is critically important that appropriate time and planning is undertaken in the preparation and review of a financial agreement. This will ensure that the financial agreement accurately reflects the wishes and intentions of all parties to the agreement and it properly considers corporate and trust entities self-managed superannuation funds and any tax implications.
If you have any queries in relation to a financial agreement please don’t hesitate in contacting me or one of my team.