Binding Financial Agreements
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A Binding Financial Agreement is an agreement that can be made between a couple, whether you are in a de facto relationship, soon to be married or already married. The agreement can also be made either before, during or after your relationship.
Binding Financial Agreements cover the division of property between the parties, superannuation and/or spousal maintenance. In dealing with these matters a Binding Financial Agreement will outline how the parties are to manage their financial affairs.
The purpose of a Binding Financial Agreements is to avoid the parties going to court to deal with the division of their property.
At Lewis and McNamara our team of dedicated solicitors will work with you to seamlessly navigate you through the myriad of legal complexities involved in Binding Financial Agreements.
Our streamlined approach to Binding Financial Agreements provides you with a sensitive, cost effective and legally sound solution to what is a complex issue.
Can you draft your own Binding Financial Agreement?
Unfortunately, you cannot prepare a binding and legally enforceable Binding Financial Agreement without using lawyers.
Here is where we can help you:-
- For a Binding Financial Agreement to be valid, binding and enforceable by a Court, you need 2 separate lawyers to provide each party with independent legal advice as well as issue and sign the necessary Certificate of having provided legal advice.
- A Binding Financial Agreement is a contract, and often, a quite complicated contract. To make sure the Binding Financial Agreement covers everything it needs to include to be binding, it is preferable that it be drafted by an appropriately experienced family lawyer.
- Usually proper drafting of the Binding Financial Agreement together with appropriate legal advice, will make it very difficult for one of the parties to later successfully apply to the Court to have it set aside.
- An experienced family lawyer can identify the issues which need to be covered in a Binding Financial Agreement and draft clauses to cover those situations and circumstances.
- A Binding Financial Agreement can be set aside if a party has not made full and adequate disclosure.
Do you have a question?
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