Author: Carol Pages, Pages Family Law.

A binding financial agreement, sometimes called a ‘pre nup’, is an agreement between a couple about how their assets will be divided if they separate.

You can enter into a financial agreement before, during or after your marriage or de facto relationship.  This means that you can have a financial agreement to set out your agreement before your relationship or marriage, one that is made during your relationship or marriage, or after you separate, to formalise the division of assets.

The advantages of a financial agreement include protecting your assets, avoiding disputes in the future if your relationship ends, saving you time and legal fees.  You can customise your financial agreement to meet your needs. For example, you may want to protect a particular property or an asset that you brought into the relationship.  Your agreement can reflect that each of you retain the property that you have now – and future property you purchase jointly can be shared, either equally or in the proportions that you purchase the property – it is completely up to you.

Before or during relationships, financial agreements are popular for couples where they have already had children from a prior relationship; those where there is a large difference in the assets they are bringing into their relationship; or couples who would like to minimise the potential conflict and give themselves the certainty and peace of mind of knowing how their assets will be divided if they separate.  

After the end of a de facto relationship or marriage, financial agreements formalise the agreement reached between the parties about how their assets will be divided, and their arrangements for spousal maintenance.

If you would like advice about financial agreements, please contact Pages Family Law at info@pagesfamilylaw.com.auor on 03 9121 8077.

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The content of this article is provided for information purposes only and does not constitute legal advice. We recommend that you seek legal advice relevant to your own circumstances and we would be happy to assist you.

Carol Pages is the Principal of Pages Family Law and an Accredited Specialist in Family Law and a Nationally Accredited Mediator. If you would like advice about your own separation, please contact Pages Family Law at info@pagesfamilylaw.com.au or on 03 9121 8077.