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Financial agreement & family law experts
Our Melbourne family lawyers are experts in helping people navigate complex and binding financial agreements.
Get tailored advice on how your financial arrangements with your partner can be documented in a financial agreement
A financial agreement is a legally binding document that outlines how a couple's financial affairs will be managed during their relationship or in the event of a separation or divorce. These agreements are a way for you to make private arrangements regarding property settlement, finances, and spousal maintenance outside of court.
Our experienced family lawyers can help you enter into a financial agreement (or prenup to use the American term) before marriage, during marriage, following a separation, or during the divorce process. Dividing your asset pool can be stressful and complex, but with a legal practitioner on your side, you can reach your desired outcome quickly, efficiently, and cost-effectively.
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Get your assets in order with our financial agreement services
Financial arrangements help to safeguard you and give you financial peace of mind in the event of separation or divorce. From dividing assets to dealing with complex financial issues, our lawyers will go above and beyond to meet your needs.
Financial agreements (or prenuptial agreements)
A financial agreement can be entered into before, during or after a marriage (including following a divorce). They can also be entered into before a de-facto relationship commences, during a de-facto relationship, and once a de-facto relationship ends.
We can help you enter into a financial agreement at any stage of your relationship.
Negotiating a financial agreement
Dividing assets following a separation can cause conflict between former partners. Financial agreements entered into pre or during a relationship, can help reduce the costs, both legal and emotional, of finalising a financial settlement following separation. Financial agreements entered into following separation can also be an effective means of documenting your settlement in a timely and cost effective manner. We can help you formalise a financial agreement that ensures your asset split is fair and equitable.
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Get started by discussing your circumstances with a family law expert.
When to obtain independent legal advice from a lawyer
If you wish to enter a legally binding financial agreement (or prenuptial agreement), you and your former partner must obtain independent legal advice first. A qualified family lawyer can support you through the process, explaining the advantages and disadvantages of entering into an agreement and negotiating terms on your behalf.
Our specialist family lawyers are highly trained in financial agreements and can provide the advice, support, and guidance you need to finalise your financial matter.
Benefits of consulting a family lawyer
While it isn’t always required to engage a lawyer for financial arrangements, there are a number of benefits to obtaining independent legal advice from a qualified family lawyer.
- In-depth understanding of the Family Law Act
- Ensure agreements adhere to legal requirements and standards
- Provide personalised advice based on your unique circumstances
- Guide you through the process of full financial disclosure
- Draft clear and comprehensive legal documents
- Assist in negotiating terms, ensuring the agreement reflects your intentions
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Why choose Carew Counsel
Client-centric
We’re committed to helping you achieve the best possible outcome in your financial matter.
Specialist lawyers
We have an experienced team of family lawyers who specialise in financial agreements.
Cost-effective solutions
We offer fixed fees or upfront quotes for more complex matters that are tailored to your needs.
Provide clarity
We’ll demystify the legal jargon so you can feel empowered when making financially-driven decisions.
Meet your lawyers specialising in financial agreements
FAQs
Browse our frequently asked questions about financial agreements.
A financial agreement is a legally binding document that outlines financial arrangements between parties in various domestic relationships or marriages in Australia. This agreement can be entered into before, during, or after a partnership, including marriages and de facto relationships. It covers matters such as property settlement and financial responsibilities in the event of separation or divorce.
Financial agreements must meet legal requirements to be binding. They should be in writing and signed by both parties, with each party having received independent legal advice before signing.
Both parties are required to provide full and frank disclosure of their financial circumstances when entering into a financial agreement to ensure transparency and fairness.
Once properly executed, a financial agreement becomes legally enforceable, providing a structured framework for financial matters in case a relationship ends.
Financial agreements can be useful in many marriages and de facto relationships, but they are not necessary for everyone. Some scenarios where a financial agreement could be beneficial include:
- If you are in a de facto relationship, a financial agreement can be useful to outline how financial matters will be handled in the event of a separation
- If you are already married, you may still consider a financial agreement to address financial aspects in case of a future separation
- If you have significant assets that you want to protect in the event of a relationship breakdown, a financial agreement can specify how these assets will be divided
- Individuals who own businesses may use financial agreements to safeguard their business interests and prevent disputes over business assets
- In cases where one or both parties have children from previous relationships, a financial agreement can help clarify financial responsibilities and asset distribution
- Life circumstances change, and a financial agreement can provide clarity on how financial matters will be handled if there are significant changes such as career advancements, inheritances, or financial windfalls
- Financial agreements can help prevent disputes by clearly outlining the agreed-upon financial arrangements, potentially reducing legal conflicts
Generally, a financial agreement becomes legally binding when:
- The agreement is in writing and has been willingly signed by both parties
- Each partner has received independent legal advice that outlined the effect of the agreement and the advantages/disadvantages of entering into it
- Each partner has received a signed certificate from their lawyer confirming that they provided legal advice
- The court has not set the agreement aside (this could happen if, for example, they deemed the agreement not just or equitable)
A consent order is a court-approved agreement, while a financial agreement is a private contract between parties. Consent orders have the advantage of court enforcement, but they involve court proceedings. A financial agreement offers more privacy but relies on the willingness of parties to comply without direct court oversight.
If you are entering into a binding financial agreement, then it is mandatory to seek independent legal advice before you can progress with the agreement.
A financial agreement can address all aspects of your financial circumstances or just specifics, such as spousal or de facto partner maintenance or property settlement.