Pre-Nuptial Agreements
Getting married or entering a de facto relationship?
In Australia a pre-nup (Pre-Nuptial Agreement) is known as a Binding Financial Agreement (‘BFA’). A pre-nup can be entered into before marriage or even before a de-facto relationship commences. The primary purpose of a pre-nup is to set out what should happen with your assets and liabilities in the event of relationship breakdown.
When you do not have a pre-nup, disagreement can end up in protracted negotiation or litigation. As such, a pre-nup can be a very powerful tool, saving time, money and stress in the future.
When to consider a pre-nup
At Your Family Law Co we are expert Pre-Nuptial Agreement lawyers.
- You have previously been through a family law separation
- You have children from a previous relationship
- You have significantly more assets than your partner
- Your partner is moving in to a house that you own
- You are expecting to receive a large inheritance
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Contact Your Family Law Co to discuss your situation
Frequently Asked Questions
Can I make my own pre-nup?
No. The only way to make a valid pre-nup in Australia is to adhere to strict legislative requirements including that each party needs to receive Independent Legal Advice.
Can a pre-nup be challenged in Court?
Yes, like all contracts, pre-nups can be the subject of litigation. The risk of litigation is lower when both parties attend on experienced and reputable Family Lawyers to mitigate the risk of the agreement being challenged one day. An expert lawyer will ensure that the Agreement meets all the necessary formalities to be binding and that it is technically well drafted to avoid ambiguity or unintended consequences.
Are pre-nups costly?
The cost of making a pre-nup will depend on how complex your financial affairs are. If the pre-nup helps you to avoid protracted negotiations or litigation in the future, it is well wroth the initial outlay. In this sense, pre-nups serve as an insurance policy against future claims and are a wise investment.
Do pre-nups need to be reviewed?
Yes. We advise to have your pre-nup reviewed every couple of years to ensure it still meets your needs and reflects your circumstances.
