Property and Financial Agreements (Pre or Post Separation)
Family Lawyers for Pre-Post Separation
Agreements in Melbourne
When a relationship ends, there is a lot of uncertainty that comes along for the ride, like how to split up the assets, who will pay the previous joint bills, and/or who will look after the children.
A Separation Agreement is also known as the Financial Agreement, under the Family Law Act. This agreement is the answer to all the questions above. It is a legally-binding contract that states how the partners, now former, will divide their debt, assets, and properties. It also contains provisions for child support.
With the help of this document, you will be protected and have certainty. This prevents any arguments that take place in the future. Additionally, a Separation Agreement prevents any future court action since the Court cannot override the contents of a legal agreement.
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Pre-Separation Agreement
What points should you make note of before a separation?
It is recommended that you keep the following points before deciding on the separation:
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Post-Separation Agreement
The time after separation is also quite difficult for the parties involved. But having an idea of the road ahead of you can make this process a bit easier. After the separation come a lot of other issues like division of debts and assets, etc.
A Binding Financial Agreement fits perfectly into this category. This agreement will help you with all the post-separation settlement. In other situations, Consent Orders are a much better option.
Consent Orders are orders that are sanctioned by the Court. Signed by the Australian Court, these orders are very difficult to challenge. Drafting and filing a Consent Order is very simple and does not require a lot of time. Additionally, they are also free of any risks, for both lawyers or the clients.
On the other hand, a Binding Financial Agreement is made under the Family Law Act. It requires strict compliance with the requirement of the Act to be binding. Hence, if the agreement is not drafted properly and does not comply with the requirements, it will not be called binding.
Sometimes, a Financial Agreement is agreed upon by some legal practices. This is a cheaper and more effective way of solving property settlements. In this case, both the partners need to have a solicitor to explain and give them, in writing, the terms of a Financial Agreement. All the relevant documents need to be exchanged for the Agreement to be binding.
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Our Commercial Business legal team offers an extensive range of legal aid concerning anything related to litigation.
Our skilled and knowledgeable professionals are ready to assist you in the most efficient and expedient way. When you avail our legal services, you can leave all the legal matters in our capable hands. We ensure you receive the appropriate legal assistance.
Contact Us
Our Commercial Business legal team offers an extensive range of legal aid concerning anything related to litigation.
Our skilled and knowledgeable professionals are ready to assist you in the most efficient and expedient way. When you avail our legal services, you can leave all the legal matters in our capable hands. We ensure you receive the appropriate legal assistance.