Parties in a relationship wishing to have control over what happens to their assets if they separate, enter into a financial agreement. This can be when they plan to marry (a prenuptial agreement) or when they married (a cohabitation agreement) or after they separate. This can be either before or after they divorce (a separation agreement).
These agreements are popular with people who are entering a second relationship or marriage. These agreements are also a popular choice when there is a desire to quarantine an inheritance or gift from family. They are also a very useful tool in family businesses and succession planning.
If you are considering such a financially binding agreement, it is critical to obtain expert family law advice as the Family Court will set an agreement aside that does not comply with the Family Law Act. We give legal advice on all financial agreements. If you wish to read more about financial agreements, click here.