Taking control of finances and property can be challenging, especially when it involves the rights and interests of two parties in a marital breakdown. However a well-drafted financial agreement has the potential to protect marital assets and achieve a more tailored divorce settlement.
A financial agreement is a written agreement that deals with the finances, property and maintenance of parties in a marital relationship. Financial agreements can be made before, during or after marriage. Parties to a de facto relationship can also enter into a similar agreement called a “cohabitation agreement”.
So even if you are contemplating marriage or are entering a de facto relationship, you may be able to save significant costs if you formalise how your assets will be divided in the event of a relationship breakdown.
Expert legal advice is essential because of the binding nature of a financal agreement and limited intervention by the Courts. At Bells Lawyers, we will help you draft your agreement to:
- Best protect your assets – including inheritance;
- Ensure it complies with formal requirements set out in the Family Law Act;
- Provide certainty;
- Protect ownership and retention of any business/commercial interests;
- Prevent potentially costly and time-consuming litigation; and
- Provide peace of mind when looking after your assets in the event of a marriage breakdown.