Binding Financial Agreement Western Australia

Binding financial agreements deal with ownership, financial resources and maintenance: to be binding, there are certain requirements that financial agreements must meet, if they are not, the agreement can be cancelled or cancelled. You should get independent legal advice and design a lawyer and have the document executed to prevent the agreement from being cancelled. Amendments to the Family Law Act 2001 and the Family Courts Act 2002 now mean that the parties can enter into binding financial agreements or consider a relationship. This means that the jurisdiction of the family court to change the property interests of these parties upon separation is ousted to the extent that it is covered by the agreement. Agreements can be simple or complex and may try to cover all or only part of the parties` financial affairs. We offer a fixed fee for the creation of a BFA. Call us to arrange a free 15-minute consultation or a discounted initial consultation to discuss what is needed for the preparation of a financial contract or mandatory marriage contract and what it may cost. Not sure if you need a lawyer? Then read ours about your family rights. Final issues concerning ownership (but not necessarily all), financial means and/or maintenance of the parties before a marriage/de facto relationship, during a marriage/de facto relationship, after a separation in a marriage or de facto relationship or after divorce. A financial agreement is not binding unless the party is advised and the agreement is certified and signed by a separate lawyer for each party before the agreement is signed by the party. The Family Law Act gives the court the power to invalidate a financial agreement and annul it in different circumstances.

At O`Sullivan Davies, we can advise and support you with respect to marriage contracts (Prenup) and Binding Financial Agreements (BFA) in Perth and throughout Western Australia. Sections 90B-90 C of the Family Law Act 1975 deal with financial agreements between the parties to a marriage. Article 90UA-90UN applies to financial agreements entered into by de facto couples. The Act provides for de facto financial agreements between couples only if, at the time of the conclusion of the agreement, the parties to the relationship had their habitual residence in New South Wales, Victoria, Queensland, South Australia, Tasmania, the Australian Capital Territory, the Northern Territory or Norfolk Island. In Western Australia, Part VIIIA of the Family Law Act deals with financial arrangements for married couples, and Part 5A Division 3 of the Family Court Act 1997 (AV) deals with financial arrangements for de facto couples. . . .