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Divorce Lawyer Parramatta explains the Requirements for a Binding Prenuptial Agreement

Why it is important to speak to a divorce lawyer Parramatta

When formulating a Binding Financial Agreement, commonly known as a prenuptial agreement,  there is no requirement for Court approval and only independent legal advice is necessary in the execution of the prenuptial agreement. It is advised that you speak to a specialist divorce lawyer Parramatta who is well informed of the particular compliance criteria for a binding agreement to be formed.

Prenuptial agreements are very complicated and require strict compliance with legislation for the agreement to be valid. Appropriate legal advice from a divorce lawyer Parramatta is vital, as in the event that parties do separate and wish to enforce the agreement, the Court has the power to set it aside as invalid and unenforceable if it was not properly executed in accordance with certain criteria.

Requirements

A prenuptial agreement is binding on the parties to the Agreement if, and only if:

  1. The prenuptial agreement is signed by both parties.
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Family Law Lawyers and Mediation

For most of those dealing with their family law matter through the Court system, it becomes apparent very quickly that you might be in this for the long haul and it won’t be cheap. With a currently under resourced Family Court, the excessive delays no doubt add to the stress of separating couples who want nothing more than to be able to move on with their lives. So, what else can you do to try and take back control of your future? Well there are many alternatives but a cheaper and often underestimated option is Mediation. Family law lawyers are able to assess your particular situation and advise whether mediation is suitable in your circumstances.

What is Mediation?

It is a voluntary process facilitated by a neutral third party (the Mediator) where you and the other party can have confidential discussions in trying to resolve your matter. The Family Law Mediator will navigate the process and assist you in sorting through your issues in dispute, generating options for resolution and how you might go about finalising any agreement that is reached. Family law lawyers may also attend with you if you so wish, allowing you to get tailored advice as different options surface through the discussions. If you are not comfortable with being in the same room as the other party, participating in shuttle mediation where the mediator goes between rooms can also provide you with the same benefits. So why should you try it?

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Child Support Lawyers Advice – Changing Child Support Agreements

When making child support decisions, separating parents have the choice of applying to the Department of Human Services (DHS) for an administrative assessment, or they can make a private agreement between themselves with the assistance of their child support lawyers. But what happens if a party disagrees with the assessment; or if a party wishes to alter an assessment due to change of circumstances?

Appealing a administrative assessment made by the DHS

If you do not agree with an assessment made by the DHS, you may be able to make an objection. Objecting to a decision takes the form of a formal review.

Some of the reasons you may wish to object may include:

  • Use of wrong or out dated information
  • Not all the facts have been considered or important details neglected
  • The law has not been applied correctly

If you decide to object to a decision (other than decisions about care percentage) you must:

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Binding Financial Agreements

What is a prenuptial agreement?

Binding Financial Agreements (BFAs) as they are known in Australia are made before marriage and are designed to protect your assets. If such an agreement is entered into, it may exclude assets in the agreement from the asset pool of both spouses, provided that the agreement has been drafted correctly.

Who should get a Binding Financial Agreement?

A BFA can be made by couples before they get married. They are particularly useful in second marriages, where both spouses have children from previous relationships. Spouses may wish to enter into these agreements to ensure that certain assets brought to the second marriage will pass to their children of a previous relationship. A BFA is also useful in cases where one spouse has considerably more assets than their partner (including businesses, farms, inheritance, gift, lottery wins or other financial assets they want to keep if the relationship should fail). BFAs are complex and can in some circumstances be successfully challenged in Court. We can assist in identifying whether the option is best for your family circumstances.

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Child Custody

The law abolished the concept of ‘child custody’ and does not make any distinction between the rights of fathers and mothers. Instead, the ‘best interests’ or welfare of the child is the paramount consideration that the Court takes into account in determining ‘child custody’, that is who the child with live with and spend time with.

While the law does not guarantee an equal-shared parenting arrangement in every matter, both parents have the responsibility for the care of their children. If the Court decides that an equal-shared parenting arrangement is not in the best interests of the child, the Court must consider ordering significant or substantial time to the non-resident parent.

The question of how much time a child should spend with both parents is determined by what is in the ‘best interests’ of the child. This is achieved by having regard to the two ‘Primary Considerations’, that is:

  • Whether there is any benefit to the child having a meaningful relationship with both parents; and
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Social media advice from a Separation Lawyer – The Do’s and the Don’ts

It is not uncommon for today’s generation to voice their opinions across various social media platforms such as Facebook, Twitter, Instagram and Snapchat. However, when it comes to family law matters a line needs to be drawn between posting harmless, entertaining posts and airing your ex-partners dirty laundry for all to see or badmouthing them so all your mutual friends know who the real “bad guy” is in the breakup. Although many perceive social media as a tool to catch up with friends, view the latest funny videos that everyone is talking about and to just spend some time out doing mindless scrolling, social media activities from the perspective of a separation lawyer are quite different.

Separation lawyers see social media as an avenue for evidence to be gathered and presented in a family law matter.  Social media posts often lack privacy, and thus are accessible to people who could use posts to support their case.

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Child Custody Laws and Child Custody Rights – Where do I start?

Separation is often a stressful time for both parties. Alongside dealing with your own emotions during a particularly difficult time, parties with children have to make arrangements for the care of the child or children, as the case may be. Child custody, as it often referred to, concerns the resolution of parenting arrangements for children. This involves reaching agreement about with which parent the children will live with and the time that they will spend with the other parent during the school terms. It often extends to agreements about school holidays and special occasions throughout the year such as Christmas, Easter and Birthdays.

Considerations to keep in mind when negotiating an agreement about child custody:

  1. Separation is stressful on children too and each child may react in different ways to separation or divorce. The child’s age, maturity, personality and characteristics are some factors that will no doubt determine their reaction.
  2. It is important to remember that cooperation of the parties, particularly in the presence and hearing of the children, can be beneficial to the child’s reaction.
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Property Settlement Agreement

The law encourages parties to negotiate and reach an amicable agreement as to the division of property following separation. If you have come to a Property Settlement Agreement with your former partner then you may wish to formalise this by entering into a binding property settlement agreement.

Sometimes parties come to an agreement without having properly considered the nature and effect of their agreement. When negotiating a Property Settlement Agreement some things to keep in mind include the following:

  1. Property Settlement Agreements differ depending on your particular set of circumstances.
  2. A fair Property Settlement Agreement may depend on the length of your relationship or marriage and this is just one of the factors to be considered.
  3. There may need to be an adjustment for financial contributions made prior to the relationship by either party.
  4. There may need to be an adjustment for one of the parties’ future needs such as their age, health, ability to work and their earning capacity.
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