Binding Financial Agreements

The term "Binding Financial Agreement" is used to describe agreements made between married couples, soon to be married couples, de facto partners and separated couples.

Many people still view these agreements with a degree of scepticism, largely because they are a relatively new phenomenon and like anything new they are taking a while to gain widespread positive acceptance. In the past divorce itself was a relatively uncommon event, but with divorce rates increasing each year Binding Financial Agreements are becoming more and more useful and necessary to counteract this worrying trend.

Binding Financial Agreements, as they are formally known, are commonly referred to as:

Prenuptial Agreements (for two people about to be married)
Cohabitation Agreements (for two people who are in a de facto relationship)
Separation Agreements (for separated spouses)

Generally speaking, Binding Financial Agreements are used to "set in stone" the different roles and responsibilities of parties in a relationship, particularly insofar as property is concerned.

As is explained in the article Declarations of Love & Committment and A Prenuptial Agreement can Improve your Relationship in the Carroll Fairon Solicitors Law Blog, Binding Financial Agreements needn't be a statement that two people don't trust each other and require a legally binding document to spell out the rules - rather it can be a statement that each person understands that the future is a mysterious and unpredictable place and things may (and indeed probably will) go wrong somehow.

The Binding Financial Agreement is a way to remove the possibility of a range of stresses occurring in the future, and this peace of mind can actually improve a relationship in the present!

Contact us to find out how a Binding Financial Agreement can help you avoid stress in the future and bring about calm and happiness in the present.

This website contains general information only. This website does not contain any legal advice. If you require legal advice, contact an Australian Legal Practitioner.