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Coutts offers expert legal representation for individuals regarding binding financial agreements. Our dedicated team includes an Accredited Family Law Specialist who is highly experienced in handling the intricacies of Family Law cases. We understand the sensitivity and complexity of Family Law matters, and we are committed to protecting the rights and well-being of our clients with compassion and precision.
Luisa Gaetani
Partner & Accredited Family Law Specialist
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Understanding Binding Financial Agreements
A Binding Financial Agreement is a written agreement between a married or de facto couple that can be entered into at any stage of the relationship. Commonly referred to as a “pre-nup”, a binding financial agreement entered into before separation outlines how the property and financial assets of the parties will be divided if they were to separate. A Binding Financial Agreement can also be entered into after separation and will outline the division of assets decided between the parties.
A Binding Financial Agreement does not necessarily follow the Family Law Court’s normal avenue of division of property or assets. This agreement must be carefully drafted and reviewed to ensure it meets all of the legal requirements so that it may be upheld should it be challenged. By entering into a Binding Financial Agreement, the parties are essentially electing to enter into a contract stating that they agree for the Family Law Act not to apply to their matter.
A Binding Financial Agreement considers a range of issues relating to the finances of both parties, this may include:
- Distribution of property;
- Superannuation;
- Debts and other finance matters;
- Spousal maintenance; and
- Other matters
Although a Binding Financial Agreement can be executed at any point during the relationship, it is recommended that such agreements are considered before living together or marriage.
How can Coutts help?
The Family Law Team at Coutts have extensive experience in negotiating and drafting Binding Financial Agreements, tailored to the individual needs of the client. It is imperative that you receive legal advice before entering into a Binding Financial Agreement and our Lawyers are more than happy to assist.
What to Expect with Coutts Lawyers
Step 1: Initial Contact
Reach out to Coutts Lawyers via our website, phone, or in person. Briefly describe your matter.
Step 2: Consultation Appointment
Schedule and attend a meeting with a Coutts lawyer to discuss the specifics of your matter and desired outcomes.
Step 3: Information & Legal Advice
Share all related documents and information. Your lawyer will review everything, clarify aspects as needed, and then advise on the best action course.
Step 4: Action Plan Development
Based on the advice, an appropriate action plan will be formulated. This may involve communication, documentation processes, or further legal steps.
Step 5: Implementation
Execute the action plan, addressing a range of legal scenarios as necessary.
Step 6: Resolution & Closure
Navigate towards a resolution, with the path determined by the nature of the matter. Your Lawyer will outline any final actions or considerations.
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Introducing Luisa
Your Compassionate Lawyer
Meet Luisa, a Partner at Coutts Lawyers & Conveyancers, and an Accredited Family Law specialist. Luisa is the head of our esteemed Family Law team. Boasting over a decade of expertise, Luisa blends sensitivity with practicality, forging deep connections and trust with her clients. Her reputation as a foremost authority in Criminal and Family law is well-deserved.
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Binding Financial Agreement FAQ’s
A Binding Financial Agreement is a written agreement between a married or de facto couple that can be entered into at any stage of the relationship, commonly known as a “pre-nup”. This agreement outlines how property and financial assets will be divided if the couple separates.
A Binding Financial Agreement typically includes provisions relating to the distribution of property, division of financial assets, superannuation, debts and other financial matters, and spousal maintenance.
A Binding Financial Agreement can be executed at any stage of a relationship. It can be arranged before cohabitation or marriage, during the relationship, or after separation. However, it is recommended that such agreements are considered and entered into before living together or getting married, to pre-emptively address potential financial disputes.
Seeking legal advice is crucial when entering into a Binding Financial Agreement to ensure that the agreement is legally sound, equitable, and meets all the legal requirements. Legal advice helps in carefully drafting and reviewing the agreement to ensure it is fair and reasonable for both parties, protecting their individual interests and rights, and that it will be upheld in court if challenged.
Coutts’ Family Law Team specialises in negotiating and drafting Binding Financial Agreements tailored to the individual needs of clients. They provide essential legal advice before entering into such an agreement to ensure that it is in line with legal standards, equitable, and serves the best interests of the client.
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