PRENUPTIAL AND BINDING FINANCIAL AGREEMENTS PERTH

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Providing you with peace of mind

  • Asset protection planning
  • Time efficient and less costly than going to court
  • Helping all parties come to an agreement

PRENUPTIAL AND FINANCIAL AGREEMENTS

Peace of mind is an important factor in any relationship. Pre-nuptial Agreements (Prenups) and Binding Financial Agreements (BFAs) can be entered into by parties who are either in a relationship or ready to take the next step. Both agreements allow each person to be open and honest about their expectations for the division of assets in the event of a relationship breakdown.

Setting up a Prenup or BFA in Perth is about providing certainty, not about casting doubt on a relationship. Our team can assist you in drawing up a Prenup or BFA and ensuring both parties come to an agreement. For these to be binding, both parties must obtain independent legal advice before the agreement is signed, along with a certificate from a lawyer to confirm the necessary advice has been given and understood.

There is no need for the Family Court to be involved in the registration or approval of Prenups or BFAs. Should the parties separate in future, having these agreements in place can determine the fair and just division of assets, finances and other matters without the need for costly court proceedings.

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Frequently Asked Questions About Prenups and Financial Agreements

Prenups and financial agreements can help couples clarify financial arrangements and protect their interests before, during or after a relationship. Below, we’ve answered some common questions about how these agreements work and when they may be appropriate.

A Binding Financial Agreement is a written contract between two parties that outlines their financial arrangements if their relationship ends.

These agreements can be made before, during, or after a marriage or de facto relationship, and allow couples to tailor the terms to their specific circumstances.

Binding Financial Agreements are legally binding and are governed by the Family Law Act 1975 (Cth), or by the Family Court Act 1997 (WA) in Western Australia. They must comply with strict rules to be legally binding, including that:

The agreement must be in writing and signed by both parties;

Before they each sign, each party must receive independent legal advice from a qualified lawyer about the effect of the agreement on their rights and the advantages and disadvantages of entering into it;

A statement signed by each party’s solicitor must be included, confirming that they gave legal advice before the party signed the agreement; and

The Binding Financial Agreement must not be entered into under circumstances of duress, fraud, or undue influence.

If properly prepared, Binding Financial Agreements can allow parties to avoid the uncertainty and stress of property settlement proceedings if their relationship breaks down.

They can also be entered into after a relationship has ended, to privately resolve property settlement matters without the need to involve the Family Court.