Financial Agreements are the same as the widely known prenuptial agreements which are made by a couple before they marry or start a de facto relationship to state the ownership of their separate assets in the event the marriage or relationship fails.
The difference is that the financial agreement can be signed in three different points of marriage or de facto relationship that is before a marriage or de facto relationship happens, during or after the marriage or de facto relationship ends.
Financial agreements are meant to indicate clearly the manner in which the two partners coming together in marriage or de facto relationship will split the property that they both own in case of separation. Also, the same agreements can be used to isolate some assets through removing them from the negotiation table when the agreement is being made.
Financial agreements are well planned in order to avoid the need for those parties involved to move to court or engage in legal cases because of matters in connection with property ownership or property division in case they separate.
In order to obtain financial agreements that are legally binding and can be used in a court of law without being disputed, the agreement must have been signed by the two parties after they independently received the necessary legal and financial advice before they committed to signing the financial agreement.
The family lawyers at Klimek & Wijay, are able to offer you assistance so as to make sure that the financial agreement you sign is legally binding and that it also shows your intentions in an efficient and accurate manner as a means to minimise the possibility of any kind of conflict that may arise between the two parties if separation happens.
Contact us today to organise your free 15-minute phone consultation.