Prenup Lawyers
A prenup is a powerful way to know where you stand. Movement Legal can help protect you and your legacy.
What is a Prenup?
A prenuptial agreement, also known legally as a "Binding Financial Agreement" (BFA) under the Family Law Act, is a formal contract entered into by parties intending to marry or start a de facto relationship.
In essence, this agreement outlines the financial arrangements between the individuals involved, offering a clear framework for how assets, debts, and other financial matters will be handled in the event of a relationship breakdown.
Prenuptial agreements can encompass a variety of financial aspects, including:
- Division of property
- Investments
- Debts
- Inheritance
- Spousal support
- Pets
Couples can customise their prenuptial agreement to suit their specific financial situation, preferences, and goals.
Some things to know about
Prenups
Do prenuptial agreements require approval from the Family Court?
A key advantage of prenuptial agreements is that they do not have to go through the Family Court to be valid. This allows couples to privately manage their financial arrangements without the need for court approval, which can save time, expense and stress.
Can a prenup address parenting issues?
Prenuptial agreements can't be used to address parenting issues. The Family Law Act 1975 specifically limits BFAs to financial matters, such as the division of assets and spousal maintenance.
Parenting arrangements must be resolved either by mutual agreement between the parents, through parenting plans, or by seeking orders from the Court.
Can a prenup be used to protect a business from a family law property settlement?
A prenuptial agreement can be used to protect your business from a family law property settlement in Australia. By including specific provisions in the agreement, you can outline how your business will be treated in the event of a separation or divorce. This can help ensure that your business remains separate from the marital assets and is not subject to division during a property settlement.
Does a prenup deal with property that may be acquired in the future?
Yes, a financial agreement can include provisions that deal with property you may acquire in the future. The agreement can specify how future assets, including property, income, and investments, will be treated in the event of a separation or divorce.
The Prenup Process
Step 1
Consider all Assets
We will look at all assets held by both members of the couple - both current and future.
Step 2
Model Options
Our lawyers will collaborate with you to explore various division options before drafting the Agreement.
Step 3
Independent Legal Advice
The Agreement is presented to the other party, who must obtain their own legal advice.
Step 4
Legal Finalisation
The agreement is signed by both parties, at which point it becomes binding.
Why choose Movement Legal?
Clear legal advice
We communicate and offer advice in simple, understandable terms.
Swift Resolution
Our focus is on achieving outcomes, and promptly resolving your matter
Strategic Representation
We deliver clear strategies to advance and resolve your case.
Dedicated Advocacy
We assert your rights through mediation, negotiation, and in court.
FAQs
Frequently Asked Questions
quizWhat does a prenup lawyer do?
A prenup lawyer specialises in providing legal advice, drafting, reviewing, and negotiating prenuptial agreements to ensure they are legally compliant, and tailored to the specific circumstances.
Is a Prenup the same as a Binding Financial Agreement (BFA)?
Prenups are formally known as Binding Financial Agreements. They are also referred to as prenuptial agreements, postnuptial agreements, cohabitation agreements, separation agreements or divorce agreements.
Can a Prenup Be Challenged?
A prenup can be challenged and potentially overturned by a court, but only under specific circumstances. Grounds for challenging a prenup include fraud, duress, unconscionable conduct, or significant changes in circumstances.
What Are the Consequences of Breaking a Binding Agreement?
If a Binding Financial Agreement is breached, the party harmed by the breach can seek legal remedies through the court system. These remedies may include seeking compensation or enforcement of the agreement's terms through specific court orders.
How Does a Binding Financial Agreement Differ from Court Orders?
Both Consent Orders and BFAs provide a structured approach for dividing assets, finances, and property at the end of a relationship.
If a prenup is not in place, then the alternative is commonly to resolve contested issues through negotiations, mediation, or before the court.
