Financial Agreements are private contractual agreements entered into by parties in relation to property, spousal maintenance and other matters.

Agreements entered into before or during a de facto relationship or marriage are generally referred to as “pre-nuptial agreements”.  These agreements essentially pre-determine the property settlement and spousal maintenance entitlements of the parties in the event that the de facto relationship or marriage breaks down.  These agreements are often used to protect pre-relationship assets and/or gifts and inheritances from family.

Agreements entered into after the breakdown of a de facto relationship or marriage are generally referred to as “post-nuptial agreements”.  These agreements are used to formally document an agreement about property settlement, spousal maintenance and other matters after the breakdown of the de facto relationship or marriage.  This can also be done by way of Consent Orders made by the Court.

Parties who enter into a Financial Agreement are essentially agreeing to oust the jurisdiction of the Court to make orders about property settlement, spousal maintenance and other matters in accordance with the legislative framework in favour of a private agreement.  For that reason, each party to a Financial Agreement requires independent legal advice. There are also a number of technical requirements which must be met in order for the agreement to be binding.

Serein Family Law is one of the specialist family law firms in Melbourne offering to facilitate Financial Agreements for clients.

From time to time, we also see clients who have been party to a problematic Financial Agreement and may be looking to have the agreement terminated or set aside by a Court.