Prenuptial agreements

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These agreements, officially known as Binding Financial Agreements, are commonly referred to as Prenuptial agreements or Prenups. It’s crucial to understand that their enforceability hinges on strict compliance with the requirements outlined in the Family Law Act.

There’s a growing societal trend for partners to establish clear guidelines regarding the distribution of assets acquired both before and during their relationship. These agreements are not exclusive to couples planning to marry but are also available to individuals in or entering into de facto relationships, including same-sex de facto relationships.

If you’re considering a prenuptial agreement, seeking legal advice to assess its suitability for your circumstances is highly recommended. The law mandates that such agreements are only binding if each party has received independent legal advice, as evidenced by a statement of independent legal advice signed by each lawyer. Guidance on drafting these contracts is advisable for any couple contemplating a long-term commitment.