Binding Financial Agreements (Separation Agreements)

Wilson Haynes Solicitors are experienced family lawyers specialising in binding financial agreements, commonly known as separation agreements.

In most cases, we can offer a fixed-fee service, so our clients know upfront exactly what will be delivered and for what price.

 

More commonly known as “prenups” or “separation agreements”, binding financial agreements are agreements entered into by parties to a relationship who wish to contract out of the provisions of the Family Law Act which apply in the event of separation and replace them with their own pre-determined formula.

Contrary to popular belief, these agreements will withstand legal challenge, provided they are drafted by an experienced family lawyer and the parties have provided full and frank disclosure regarding their financial situation.

Binding financial agreements can be entered into at various stages of a relationship (married or de facto), including:

  1. Prior to moving in together;
  2. During cohabitation; and
  3. After separation.

They provide enormous flexibility and can deal with a broad range of issues, including:

  1. Distribution of assets, liabilities and financial resources;
  2. Superannuation entitlements;
  3. Spousal maintenance;
  4. Management of corporate entities, trusts and partnerships; and
  5. Inheritances, compensation payments and other windfalls.

DON’T MISS OUT ON STAMP DUTY EXEMPTIONS: Property transfers made under binding financial agreement will be exempt from the payment of stamp duty. A transfer of NSW property worth
$1 million from one spouse to another pursuant binding financial agreement (or consent orders) would result in a duty saving of $40,510.00.

Recently separated or thinking about separating? Make sure you understand your rights, entitlements and obligations.

Contact Sean Powell now to take advantage of our 40 minute cost-free initial consultation.

Can’t make it into the office? We are flexible and can make other arrangements that suit you

Sean can be contacted on:

Direct line:          07 5536 3055 ext 3

Office line:          07 5536 3055 ext 1

Email:                   spowell@wilsonhayneslaw.com.au

Cost Free Initial Consultation

If you are interested in knowing more about how we might be able to assist you, please call
07 5536 3055 to make a cost free initial, 40 minute consultation with our Principal, Mr Jim Wilson.