Financial and prenuptial agreements are quite common and can save a lot of disagreement and conflict in the future should the relationship finish. A prenuptial agreement (or a Binding Financial Agreement) is a legally enforceable agreement which defines the financial and property rights of each person if the marriage ends. The agreement is entered into by two people prior to their marriage.
If you are considering a prenuptial or financial agreement, talk to one of our lawyers for independent and sound legal advice. We can also help you with drafting or enforcing agreements.
Can I make a prenuptial agreement after marriage?
Financial agreements can be arranged before, during or after a relationship. Whilst prenuptials refer to a financial agreement made prior to marriage; postnuptial agreements can be reached once a couple has already married.
What can prenuptial agreements include?
They can include how a couple’s assets and money will be divided, any financial support required during or after the marriage and any other elements that couples wish to include.
What are the benefits of a prenuptial agreement?
A prenuptial agreement provides certainty and security for both parties during and after a relationship. Binding Financial Agreements also carry some tax benefits should they be activated, as they work in the same manner as Court Orders in this respect.
Can de facto partners have prenuptial agreements?
Absolutely. A Binding Financial Agreement is a contract that a couple in a relationship, either as de facto partners or marital partners can enter.
Can same sex couples have a prenuptial agreement?
Definitely. The Marriage Act (1961) was amended in 2017. The new legal definition of marriage in Australia is the union of two people to the exclusion of all others, voluntarily entered into for life. This allows lesbian, gay, bisexual, transgender and intersex people to marry irrespective of their sexual orientation or gender.