1. The relationships that financial protection will cover

The agreements covered on this page are called Binding Financial Agreements under the Family Law Act. The legislation enables parties to order their financial affairs without needing to go to the Family Court to seek approval of the agreement. The categories of Binding Financial Agreements are:

• Pre-nuptial Agreements — for parties about to marry

• Pre-cohabitation Agreements — for parties entering de facto relationships

• Cohabitation Agreements — for parties already in existing married and de facto relationships.

These products are for you if you:

• Have accumulated significant wealth that you want to protect

• Have a large inheritance or windfall you want to protect

• Are “second timers” and have children from previous relationships and you want to protect assets for them

• Are “second or third timers” and wish to avoid the financial and emotional pain of another journey through the family law system

• Have a child who is about to enter into a marriage or de facto relationship and you have significant wealth and/or assets they will receive from you by way of future inheritance

• Are bringing significantly more assets than your partner into the relationship.

The purpose of these agreements is to provide you with some certainty and comfort regarding how your assets will be divided if you were to later separate. It is a case of “Know where you stand, know where you land”. They are, essentially, a risk-management tool.

The law about these agreements is complex. An agreement will only be binding if certain strict requirements are met. They need to be prepared by an experienced legal practitioner.

2. Spousal Maintenance Agreement

This product is for you if you want to protect against a potential spousal maintenance claim by your spouse if you were to separate in the future. Most clients wanting property protection agreements also use these agreements to obtain protection against future spousal maintenance claims. If that is the case, we will address those issues in the same document.

3. Binding Child Support Agreement

This product is for you if you seek certainty regarding future child support arrangements. These agreements are useful and provide comfort when you:

• Have children attending private schools and you seek certainty regarding the payment of future school fees

• Seek certainty about the payment of medical expenses for your children

• Seek certainty about the payment of extracurricular activities for your children

• Are frustrated by the child support assessment process and would prefer to have more control over where your money is spent.