Family Law and Divorce. Central Queensland.
Binding financial agreements
If you plan to marry or live with someone in a regular or "serious" relationship, then you should consider how your property will be divided if you separate in the future. Binding Financial Agreements can be made before, during or after a marriage or de facto relationship.
A Financial Agreement sets out what will happen to your finances if you separate in the future, whether you are already married, or get married, or not, and whether you are in a same sex relationship.
Binding Financial Agreements can provide certainty and the ability to protect assets and financial resources following a relationship breakdown, in particular circumstances and in the event that the Agreement is found to be binding. A Binding Financial Agreement may also avoid expensive and time-consuming court proceedings following separation.
A Binding Financial Agreement can commonly deal with issues such as:
dividing or transferring real estate, investment properties, shares, bank accounts, jewellery, furniture, etc.
splitting superannuation funds
quarantining or dividing inheritances, gifts, or other lump sum amounts
quarantining or dividing an interest in a trust fund
determining the ownership, management and control of a business or company.
Both parties require Certificates of Independent Legal Advice before signing a Binding Financial Agreement. Duffield Lawyers provides services to our clients through both the preparation and review of Binding Financial Agreements.