Parties contemplating entering into a marriage who fall into one or more of the following categories should give serious consideration to entering into a Financial Agreement (or what is commonly referred to as a Pre-Nuptial Agreement) under the Family Law Act 1975:
- Where one party has significantly more assets and financial resources than the other
party and the first party wishes to protect those assets in the event of the breakdown
of the marriage from a claim by the other party under the Family Law Act 1975;
- Where one party has children from a previous relationship and they wish to protect
their assets and financial resources from a claim by the other party in the event
of a marriage breakdown, so those assets can ultimately be passed down to those
children;
- Where a party anticipates receiving a substantial inheritance during the marriage
and wishes to protect that inheritance against a possible claim against that inheritance
by the other party in the event of a breakdown of their marriage.
If parties who fall into these categories do not enter into a financial Agreement
and the marriage breaks down, all of the parties’ assets including assets held by
the parties prior to the marriage and assets inherited by the parties during the
marriage will be included in the pool of assets under the Family Law Act 1975 and
available for distribution.
Parties contemplating entering into a marriage can enter into financial agreements
setting out how, in the event of the breakdown of the marriage, the parties’ property
or financial resources are to be dealt with. For example the parties may wish to
enter into a Financial Agreement that provides that the parties’ assets and financial
resources owned by them prior to the marriage are quarantined. Financial Agreements
can also be made with respect to the maintenance of one or both of the parties.
Certain requirements must be met in Order for a Financial Agreement to be binding,
including a requirement that the parties have each obtained independent legal advice,
and these requirements must be strictly complied with.
Where to now?
Speak to a Family Law Specialist
Often the best way to get the answers you need is to
speak to a Specialist.
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use our contact form or please call us on +61 3 9615
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Book a consultation
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these issues on a daily basis.
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that are on your mind and gives us the chance to
learn about your situation and what options are open
to you
For more information please call us on +61 3 9615
4327 or send as an e-mail at
info@nffamilylawyersmelbourne.com.au. We can
help you in any situation.
