A marriage agreement is the popular term used for a binding financial agreement that can be concluded before, during or after a marriage or a de facto relationship. If you develop this agreement with your partner, you may feel safe because you know that your assets, business investments and other financial matters are protected. These agreements may cover aspects of ownership, rights to financial resources, sharing of aging (for couples) and spisted support obligations. The main advantage of these agreements is security, the ability to protect assets, including financial resources, and ultimately to avoid costly litigation following a relationship breakdown. A binding financial agreement plays an essential role in protecting your assets and provides you with the relevant information to know your rights and obligations after a relationship collapses. At Thomson Family Lawyers, we appreciate the sensitivity behind this agreement and act with fairness and respect to all parties involved. Take control of your finances with Thomson Family Lawyers by your side. Our family lawyers have experience in protecting your wealth through a mandatory (marital) financial agreement in Perth. Contact us at (08) 6444 9911 to manage your financial settlement business today. To simplify, a binding financial agreement allows the parties to conclude a binding agreement on the sharing of their assets at the time of separation. They are a contract between a person and his partner in which they define their financial separation agreement in the event of a breakdown of their marriage or a de facto relationship.
To the extent that it is considered valid, the family court will enforce the agreement. In other words, the parties cannot ask the family courts for a transaction or agreement with the maintenance of ownership that is contrary to the terms of the agreement signed by the parties. With mutual signature, the binding financial agreement enters into force and is legally binding, unless the agreement expressly specifies that it will enter into force at a later date. By entering into a binding financial agreement, you can avoid unnecessary controversy about real estate that takes place during separation. It can also make parties feel safe when they know that the assets they have accumulated prior to their relationship or marriage are safe.