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Family Law > Binding Financial Agreements

Binding Financial Agreements 

When you need to know your options and your rights and you want swift attention to your Family Law concerns, the Anumis dream team has your back. We’ll listen to you, advise you, mediate, negotiate and litigate to take best care of all your legal needs. 

Commercial Lawyer Sunshine Coast

Expert Financial Binding Agreement Lawyer based in Noosa, Sunshine Coast

A financial agreement is a written agreement that sets out how you and your former partner will divide your financial resources and property, when you separate. The main effects of a financial agreement are: to give you and your former partner finality with regard to your financial affairs, and to prevent either you or your former partner from making an application to the Family Court for the division of assets in a property settlement. If you’d like assistance with your Binding Financial Agreement, Our Family Lawyers can help you with the division of of your property and financial resources. Call us on 07 5455 6347 today to book your free complimentary chat.

Binding Financial Agreement Lawyers on the Sunshine Coast

How we can help you with your Binding Financial Agreement

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Meet with you to take your instruction 

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Review documentation provided by you that details your assets and liabilities at the end of your relationship

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Review documentation provided by you that details your assets and liabilities on commencement of your relationship

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Advise you as to spousal maintenance

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Draft your Binding Financial Agreement and send to you for your feedback

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Forward your Binding Financial Agreement to your former partner or your former partner’s legal representative

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Amend your Binding Financial Agreement as required

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Provide you with written advice about the consequences and implications of the Binding Agreement for you and your rights and obligations when you sign the Binding Financial agreement

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Once you have received our written advice as to the consequences and implications of the Binding Financial Agreement, provide you with a Certificate as proof of the legal advice you received.

A commercial law office on the Sunshine Coast

Why do you need to get legal advice about your Financial Agreement?

It is important for you and your former partner to get legal advice to prevent either of you from arguing that, when you both signed the agreement, you – or your former partner did not understand what they or you were signing, or the consequences of your agreement. 

To become legally binding, your financial agreement must include:   

    1. A certificate from your legal adviser that clearly states that they have advised you. 
    2. A statement within the agreement by you and your former partner that you have received legal advice independent of each other. 

    You deserve solid experience, knowledge, & the very best legal backing to ensure you achieve your goals.

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    What must the Financial Agreement include to be binding and enforceable? 

    Your financial agreement is only legally binding once you and your former partner have each received independent legal advice. Under Family Law Act 1975, both you and your former partner will need to receive a certificate of independent legal advice as to the advantages and disadvantages of entering into the agreement, and the effects of the agreement on your rights.  

    What else should I consider?

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    Your Binding Financial Agreement must detail how your assets and liabilities will be divided if your relationship breaks down. 

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    You can draft your own agreement, or you can instruct the Anumis Legal Family Law Dream Team to draft your agreement for you, based on the information you provide to us and information we will ask of your former partner in a process called Disclosure. 

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    There are multiple reasons to reach an agreement with your former partner as soon as possible: 

    It keeps you out of court

    It reduces your stress levels

    Saves you time

    Saves you money

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    There are two components to consider:

    Putting your agreement together

    Getting independent legal advice

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    How much does a Binding Financial Agreement Cost?

    The cost of your Binding Financial Agreement depends on how complex or straight forward your financial circumstances are, and how easily (or not) you and your former partner can come to an agreement.

    If resolving your financial property arrangements requires, for example: negotiation, mediation, complex estate planning, forensic accounting, untangling Superannuation matters, wrangling with crypto-currency and asset and property valuations to be agreed then the cost of finalising your Binding Financial Agreement will be higher than if your financial affairs are simpler to determine.

    How to reduce the amount you spend on a Binding Financial Agreement

    If you and your former partner readily disclose your assets and liabilities and you can both agree the terms of your financial agreement, and you have received independent legal advice, then your binding financial agreement can be wrapped up in a cost-effective way.

    It stands to reason that if you can provide all the required information, so that your agreement can be fairly drawn up, then you will save yourself money. We appreciate that it is not always possible to find and provide all the information yourself. You will likely need to talk to your accountant, Superannuation provider and possibly other financial experts as well as your lawyer. 

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    What must the Financial Agreement include to be binding and enforceable? 

    Your financial circumstances, your age, needs, and health are unique and different to anyone else’s situation. This means that it is difficult to give you an exact cost for drafting a your binding financial agreement right here. We need to know more about your specific circumstances so that we can advise you more accurately as to likely costs. That’s why we welcome you to take advantage of a free chat at Anumis Legal, where you can ask questions and also provide us with the initial information we need to give you a costs estimate

    Call us today to learn more

    To find out how we can help you to divide your property and financial resources so that you can finalise the financial and property aspects of your separation in your Binding Financial Agreement, book your free chat now. Email: admin@anumis.com.au or call 07 5455 6347 

    Meet Our Team

    Dr John Cronin

    Dr John Cronin holds a Master’s Degree in Business Management, a PHD in socially responsible investment, and is pursuing a further PHD in superannuation law. In his earlier engineering career, he led numerous large-scale equipment design and infrastructure development projects. A former financial and investment advisor, Dr John has a wealth of experience across banking, finance, and investment.

    Nadine Love

    Nadine Love holds a Master’s Degree in Dramatherapy. In her earlier career as an author, mentor and trainer through her books, products, and coaching services she assisted people to transform their personal and professional lives to find confidence, clarity, success, and wellbeing. Nadine was
    awarded the 2020 NSW Bar Association Prize for Civil Litigation and Evidence.

    You can depend on our Commercial Law and Family Law firm to get to know you and your needs in depth. Our expert legal advice, courteously tailored to your specific circumstances, is at your right hand to that you can make well informed choices round the clock. We have your back.

    To make your appointment or for further information: admin@anumislegal.com.au
    or call 07 54556347

     

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