Financial Agreements

In the family law arena, one avenue available for formalizing a financial settlement is through the execution of a Financial Agreement concerning the division of property between the parties involved.

These Agreements can be entered into at various stages of a relationship including at its commencement, or prior to cohabitation commencing, during the relationship, or subsequent to its breakdown. When properly drafted, Financial Agreements serve to exclude the jurisdiction of the Court, thereby precluding parties from initiating proceedings in the Federal Circuit and Family Court of Australia following the Agreement's proper execution.

Financial Agreements have the capacity to address matters such as property settlement and spousal maintenance, in the event of a relationship breakdown. Financial Agreements must adhere to stringent technical requirements to be considered valid and enforceable. These requirements include both parties obtaining independent legal advice prior to signing regarding the agreement's terms, the effects that signing the Agreement will have on their rights, as well as a comprehensive understanding of its particular advantages and disadvantages. Once a Financial Agreement has been negotiated, drafted and approved by the parties they will each need to execute the finalised Agreement as witnessed by their respective lawyers. The parties legal representatives are also required to sign ‘solicitors certificates’ which confirms that their client has received independent legal advice. This solicitors certificate forms part of the parties overall Agreement which will take full force and effect from the date that the last party and their lawyer signs, save as otherwise provided for in the body of the Agreement. 

At Rush Family Law, we possess the expertise required to meticulously prepare Financial Agreements and provide the necessary legal counsel to our clients throughout the process.