Parties often wish to protect intergenerational wealth and assets provided to subsequent generations by way of gift or inheritance. Pursuant to the Family Law Act 1975 (Cth), parties to a marriage or de facto relationship may enter into a Financial Agreement at any time before commencing cohabitation or marriage (a Pre-Cohabitation or Pre-Nuptial Agreement), or after cohabitation or marriage, and following separation or divorce (a Post-Cohabitation or Post-Nuptial Agreement).
By entering into a Financial Agreement, parties to a relationship effectively seek to oust the jurisdiction of the Federal Circuit and Family Court of Australia to determine a financial dispute between parties if they separate. Parties are able to determine for themselves how their assets, liabilities and superannuation entitlements should be dealt with in the event of separation.
Financial Agreements are intended to provide certainty about financial matters in the event of separation and can cover both property adjustment and spousal maintenance matters.
Our family lawyers assist clients to negotiate the terms of, draft, and provide the requisite legal advice in relation to proposed Financial Agreements.
We are experienced in seeking to set aside Financial Agreements when such Agreements do not comply with the provisions of the Family Law Act 1975 (Cth) with a view to negotiating an alternate financial settlements.