In Western Australia, the Family Law Act 1975 and Family Court Act 1997, allows both parties in a marriage, or de facto relationship, to enter into a binding financial agreement, often referred to as a prenuptial agreement, which outlines the arrangements for financial settlement, in the event of a breakdown of the relationship.
What is a Binding Financial Agreement?
A binding financial agreement plays an essential role towards protecting your assets, and gives you the relevant information in knowing your rights and responsibilities, following the breakdown of a relationship. At Thomson Family Lawyers, we appreciate the sensitivity behind this agreement and act fairly and respectfully towards all parties involved.
What is a Prenuptial Agreement?
A prenuptial agreement is the popular term used for a binding financial agreement that can be entered into before, during or after a marriage or de facto relationship. By creating this agreement mutually with your partner, you can feel secure knowing that your assets, business investments and other financial matters are protected.
Can I create my own Pre-Nup?
To be a valid and legally binding document, both parties must obtain professional legal advice on the agreement. An independent solicitor will draft and execute the document, ensuring it complies with the legislation.
At Thomson Family Lawyers, our team of Perth lawyers are experienced in providing legal advice in respect of such matters. As part of our service, we also discuss the implications of not having a binding financial agreement in place, so you are aware of all your options.
What is involved in a BFA? What things do I need to consider?
A Binding Financial Agreement will require both parties to be legally represented, as each party must obtain legal advice and receive written advice from their lawyer regarding the Binding Financial Agreement. This is a requirement to ensure that the Binding Financial Agreement meets the requirements as set out in the legislation and to enable the Binding Financial Agreement to be valid.
Are Pre-Nups Enforceable in Australia?
If you have entered into any form of Pre-Nuptial Agreement outside of Australia, it is important that you seek legal advice from a lawyer practising in Family Law within the Australian jurisdiction, to obtain advice as to how the agreement may affect your financial settlement matters within Australia.
Take control of your finances with Thomson Family Lawyers by your side. Our family lawyers are experienced in protecting your assets through a binding financial (prenuptial) agreement in Perth. Contact us on (08) 6444 9911 to manage your financial settlement matters today.