Financial Agreement Generator for Australia

A Financial Agreement is a legally binding contract between couples that sets out how they'll divide their assets and financial resources if their relationship ends. Under the Family Law Act 1975, these agreements (sometimes called prenups or binding financial agreements) can be made before, during, or after marriage or de facto relationships in Australia.

These agreements give couples control over their financial future by clearly spelling out how property, debts, and financial support will be handled. To be valid, both parties must get independent legal advice, sign the agreement voluntarily, and disclose all their assets. Courts can only set aside these agreements in specific situations, like cases of fraud or significant changes in circumstances involving children.

Financial Agreements make the most sense when entering significant relationships with complex assets or financial situations. Common triggers include bringing substantial property or business interests into a marriage, protecting inheritance or family wealth, or safeguarding business partnerships from potential relationship breakdowns.

Many couples create these agreements when blending families, starting second marriages, or establishing clear expectations about financial responsibilities. It's crucial to set up the agreement early - ideally before marriage or moving in together. Waiting until relationship problems emerge can invalidate the agreement or make negotiations much more difficult under Australian family law.

• Pre-nuptial Financial Agreements: Made before marriage, covering assets brought into the relationship and future financial arrangements
• Post-nuptial Financial Agreements: Created during marriage to address changing financial circumstances or newly acquired assets
• Separation Financial Agreements: Developed when couples part ways, detailing the division of property and ongoing financial obligations
• De Facto Financial Agreements: Similar protections for non-married couples living together in a genuine domestic relationship
• Termination Agreements: Used to end existing Financial Agreements when both parties agree to different arrangements

• Couples: The primary parties who enter into Financial Agreements, including married couples, engaged couples planning to marry, or de facto partners living together
• Family Lawyers: Draft and review agreements, provide independent legal advice to each party as required by Australian law
• Financial Advisors: Help identify and value assets, provide guidance on financial implications and structuring
• Business Valuators: Assess the worth of business interests or complex assets included in the agreement
• Courts: While not directly involved in creating agreements, they enforce valid agreements and can set them aside if legal requirements aren't met

• Asset Documentation: Gather detailed lists of all property, investments, superannuation, businesses, and debts for both parties
• Financial Disclosure: Collect recent bank statements, tax returns, and property valuations to ensure full transparency
• Relationship Details: Document the relationship status, living arrangements, and any existing financial commitments
• Future Planning: Outline anticipated financial changes, inheritance expectations, and career plans
• Legal Requirements: Ensure both parties receive independent legal advice and sign certificates of advice as required by Australian law
• Review Process: Allow time for both parties to carefully consider the agreement terms before signing

• Identification Section: Full legal names, addresses, and relationship status of both parties
• Asset Schedule: Complete list of current assets, liabilities, and financial resources of both parties
• Distribution Terms: Clear explanation of how property and financial resources will be divided
• Separation Provisions: Specific arrangements that take effect if the relationship ends
• Legal Advice Statements: Declarations that both parties received independent legal advice
• Cooling-off Period: Statement acknowledging the statutory cooling-off period under Family Law Act
• Execution Block: Formal signing section with witness requirements and dated signatures

Financial Agreements are often confused with Contractual Agreements, but they serve distinctly different purposes in Australian law. While both create legally binding obligations, Financial Agreements specifically deal with relationship property and financial arrangements between couples.

• Legal Framework: Financial Agreements operate under the Family Law Act 1975, requiring independent legal advice for both parties. Contractual Agreements follow general contract law principles without this specific requirement
• Scope and Purpose: Financial Agreements focus exclusively on relationship property division and financial support. Contractual Agreements cover broader business and commercial arrangements
• Parties Involved: Financial Agreements are strictly between couples (married or de facto). Contractual Agreements can involve any number of parties in various capacities
• Enforcement: Financial Agreements can only be challenged on specific grounds under family law. Contractual Agreements have broader grounds for dispute under contract law