Financial Agreements in Family Law

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The Family Law Amendment Act 2000 was passed on 27 November 2000. Part VIIIA of this Act provides for Financial Agreements to be made in three different sets of

  • Between parties who are contemplating marriage
  • Between married couples; and
  • Between divorced couples

In most circumstances, Financial Agreements have the potential to allow parties to exercise more control over their property and financial matters as provided they are well drafted, the Family Court is prevented from deciding matters to which the Financial Agreement relates. Financial Agreements do not require approval of, nor registration with, the Family Court. Provided the formal requirements of Part VIIIA of the Family Law Act are complied with, and there is no ground under Section 90K of the Family Law Act to set the agreement aside, Financial Agreements are binding on the parties even if the Agreement is not fair and equitable.

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Categories: Co-habitation Agreement, Financial Agreements, Post-Nuptial Agreement, Pre-Nuptial Agreement
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