With over 25 years of experience, Rockwell Private Law is here to ensure a fair and just Prenuptial Agreement between you and your partner.
Rockwell Private Law' Binding Financial Agreement lawyers offer sensitive, specialist advice to help you and your partner enter into an agreement that is fair and offers maximum certainty should you wish to separate in future.
Prenuptial Agreements can help avoid messy court cases and property settlement disputes, and they are a key element of asset protection and wealth planning for couples who separate. Couples are increasingly taking up the option of Prenups or Binding Financial Agreements, seeing them as a practical solution, especially with the rising number of marriages and de-facto relationships that end in separation and divorce in Australia.
Can You Get a Prenup After You Get Married?
Most people assume that a prenup, or prenuptial agreement, can only happen before marriage or a de facto relationship.
However, you can also get a prenup (called a Binding Financial Agreement in Australia) during a marriage or a de facto relationship, after divorce, or after a breakdown of a de facto relationship. Don’t be mistaken. The best time to get a prenuptial agreement is before you get married or enter a de facto relationship.
When you get a prenup during your marriage, it depends on how long you wait. If you decide you want a postnuptial agreement five years into your marriage, any wealth or assets you’ve acquired in those five years since you exchanged vows is considered marital property – as there was no prenup deciding it wasn’t. The process will then become more complicated, as you, your partner, and your individual lawyers will have to hash it all out after the fact.
Why Do I Need a Lawyer for Prenuptial Agreements?
A Prenup written by anyone other than a lawyer is not binding in Australia. Under the Family Law Act requirements, both parties in a Prenuptial Agreement or Binding Financial Agreement must have a separate lawyer acting for them. Otherwise, the agreement is not binding under the law and cannot be used to divide property and assets in the event of a breakdown of a relationship or marriage. If you’re searching online for a Prenup lawyer in Melbourne ‘near me’ check out our credentials. Rockwell Private Law remains focused on premium Family Law and Private Client matters for our clients.
Is a Binding Financial Agreement the Same as a Prenuptial Agreement?
A Prenuptial Agreement or ‘Prenup’ is popular terminology in America and other countries and refers to an agreement made by a couple before marriage. The term Prenup is now used often in Australia to refer to its equivalent here which is called a Binding Financial Agreement.
When Can I Enter Into a Binding Financial Agreement?
You can enter into a Binding Financial Agreement at any time, providing you and your partner can agree that it is in both of your interests to do so.
Prenuptial Law & Financial Agreements FAQs
If both parties sign the document, it is legally binding and enforceable. If both parties create and sign a second document to nullify the prenup, it can be legally challenged.
A prenup can save a lot of time and money in the Family Court in the event of a divorce. You can also protect assets for children and dependants from a previous marriage.
This is a conversation you can have with our Family Lawyers. The assets you have prior to a marriage may not be worth the cost of a prenup. However, if you have arrangements and obligations to other people not involved with your marriage, a prenup would be advised.
A Prenup needs to be in writing. It cannot be a handshake agreement. All provisions must abide by the Australian Family Law Act. The prenup must be fully understood by both parties, and both parties must be at least 18 years of age when the agreement is created.