Financial agreements can be classified into three categories:

1. Binding Financial Agreement (commonly referred to as a pre-nuptial agreement (entered into before or during the relationship) – s 90B,

2. Binding Financial Agreement during marriage – s 90C and

3. Binding Financial Agreement after divorce – s 90D.

If you have to an agreement without obtaining independent legal advice, remember that you should find out what your legal entitlements are before you sign anything.

Gaining knowledge on your legal entitlements will help you to make an informed decision before you enter into a binding agreement.

A qualified lawyer can draft the agreement for you. This will ensure that the agreement covers all legal issues, particular those you may not be aware of. A properly drafted agreement will help to ensure the agreement is binding.

Parties are often able to come to an agreement about a property settlement without Court involvement. If you and your partner reach an agreement you can apply to the Court for Consent Orders which is a relatively simple and inexpensive process.

Ensuring the Consent Orders are valid and binding

Full and frank disclosure must be demonstrated when identifying and declaring assets. Otherwise, your Consent Orders may be subject to a review and the Court has the option of favoring the other party due to dishonesty on the part of the non-disclosing party.

Legal representation is essential to ensuring full and proper consideration is given to all matters. When Consent Orders are sought, there should be enough information before the court to enable the court to make its own enquiry as to the justice and equity of the Consent Orders.

The lawyers at Byron Bay Family Law & Mediation Specialists Melbourne have extensive experience negotiating family law property settlements. We will carefully consider all aspects of your case and advise you on your specific situation. We will then negotiate in an attempt to reach an amicable outcome. We are committed to ensuring a fair settlement is achieved as quickly as possible, we aim to reduce the time taken and therefore the cost to you.

Byron Bay Family Law is a leading family law firm in Melbourne. Please contact us on 1300 635 529 to speak with a family lawyer from our law firm today. You can also send through your enquiry online now and we will contact you shortly.

Parties are often able to reach an agreement about a property settlement with the help of their lawyers. Where parties reach an agreement they can apply to the Court for Consent Orders which is a relatively simple and inexpensive process. When Consent Orders are made the parties gain the benefit of knowing their agreement is binding and enforceable.

If you cannot reach agreement with your former partner then an application for property settlement must be filed. There are ongoing opportunities to settle proceedings before a decision is made by the Court. Where a settlement is not reached then the Court will make a decision as to how the property of the couple should be divided after a hearing. If the property is complex then the Family Court will hear the matter.

Your family lawyer will carefully consider all aspects of your case and advise you on your entitlements. Your lawyer will assist you to negotiate with your former partner in an attempt to reach an amicable outcome.

Parties are often able to reach an agreement about a property settlement and they can then apply to the Court for Consent Orders which is a relatively simple and inexpensive process.

If Consent Orders are made then the parties can rely on the knowledge that their agreement is binding and enforceable. An additional advantage is that certain tax benefits may be available to you.

An alternative to Consent Orders is a binding financial agreement which has different considerations and benefits.