Most common questions about Financial Agreements
A Financial Agreement (known in other countries as a Nuptial Agreements) may be made before, during or after a relationship or marriage. These Agreements are intended to set out what the parties agree will happen to their respective sole and joint finances, in the event they separate. In Western Australia, Financial Agreements are governed by one of two Acts. The Family Court Act, in relation to De Facto couples, and the Family Law Act for married couples, or those intending to marry. There are strict rules and procedures that must be followed and as such, they are the one area of Family Law that both parties must have advice on. There have been instances where poorly drafted Financial Agreements have caused unforeseen problems in the future and with that in mind, it is important to ensure you find someone who has appropriate experience in drafting or reviewing such Agreements.