Financial agreements can be classified into three categories:
1. Binding Financial Agreement (commonly referred to as a pre-nuptial agreement (entered into before or during the relationship) – s 90B,
2. Binding Financial Agreement during marriage – s 90C and
3. Binding Financial Agreement after divorce – s 90D.
If you have to an agreement without obtaining independent legal advice, remember that you should find out what your legal entitlements are before you sign anything.
Gaining knowledge on your legal entitlements will help you to make an informed decision before you enter into a binding agreement.
A qualified lawyer can draft the agreement for you. This will ensure that the agreement covers all legal issues, particular those you may not be aware of. A properly drafted agreement will help to ensure the agreement is binding.