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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.
  2. Continue reading…

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Why you need to speak to a family law lawyer when thinking about a Prenuptial Agreement

At Matthews Folbigg Lawyers we work closely with our clients to ensure they are well aware of their entitlements when undertaking a property settlement. Matthews Folbigg family law specialists regularly provide professional advice to clients about how to protect their assets in the event their marriage or relationship breaks down, by entering into a prenuptial agreement.

Our lawyers have extensive experience in drafting prenuptial agreements.

Why you need to seek advice from a family law lawyer about obtaining a prenuptial agreement?

Prenuptial agreements are very complicated and require strict compliance with the legislation for the prenuptial agreement to be valid. A prenuptial agreement is binding on the parties to the Agreement if, and only if:

  • The prenuptial agreement is signed by both parties;
  • Before the agreement is signed, each party is provided with independent legal advice from a legal practitioner as to the following matters:
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Prenuptial Agreement

Going into a marriage or de facto relationship, couples do not plan to fail, however often couples fail to plan, overlooking benefits that a prenuptial agreement may have.

A binding financial agreement is a way that couples can plan out the potential future rights or obligations of either party in the event that the relationship doesn’t work out. Such an agreement can be made before or after entering the marriage or de facto relationship.

What can the agreement include?

Prenuptial agreements can cover a range of assets, financial resources and liabilities that are often precluded from individuals minds. Such areas other than income that may be addressed by a prenuptial agreement may include:

  • Superannuation
  • Inheritance
  • Trusts
  • Businesses
  • Real Estate
  • Investments
  • Pensioner entitlements
  • Debts and liabilities

What are the benefits of a prenuptial agreement?

Although often viewed as a negative way to commence a relationship, a prenuptial agreement could serve as a positive way for couples to openly communicate about the potential distribution of assets and debts as well as any expectations either individual may have.

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