FAMILY LAW
‘Prenuptial’ Agreements
A financial agreement can be entered into by couples contemplating marriage (a Binding Financial Agreement) or by people in a de facto relationship (a Cohabitation Agreement). The agreement can deal with how the property or financial resources of either or both of them are to be dealt with, in the event of a breakdown of the marriage or relationship.
The advantages of entering into either a Binding Financial Agreement or a Cohabitation Agreement are to: -
- Provide certainty;
- Protect ownership of assets brought into a relationship;
- Prevent costly, stressful and lengthy litigation if the relationship does break down;
- Provide peace of mind to couples in relation to financial matters in the event of their relationship breakdown.
We recommend that you obtain legal advice in relation to the suitability of such agreements for you and to ensure that your agreement is binding and effective.
