Agreements prior to marriage or de facto relationship

A Binding Financial Agreement may be made in contemplation of, during, or after marriage or a de fact relationship. The agreement deals with how property and financial resources will be dealt with in the event of a breakdown of the relationship. It may also detail the spousal maintenance (if any) to be paid to either party.

In determining whether you need an agreement, you may consider the following:-

  • Whether one party has significantly more assets than the other;
  • Whether one party has significant debts;
  • Whether one party has financial responsibility for others and their capacity to meet these obligations.

To ensure a Binding Financial Agreement is legally enforceable:

  • The agreement must be in writing;
  • The agreement must contain a complete statement of your assets, liabilities, financial resources, income and expenditure;
  • On the basis of full disclosure, the agreement is fair and reasonable; and
  • Each party must receive independent legal advice.

Hede Byrne and Hall are both familiar and experienced with the complexity of Binding Financial Agreements.