You can apply the Family Court or the Federal Court to financial decisions. For more information, see “If you don`t agree on real estate and finance.” One of the key themes of implementing your binding financial agreement is to ensure that it is effectively binding. This will save you time and money if you reach an agreement without going to court. You also know exactly what each of you will receive, whereas if you go to court, you are waiting for a judicial officer who decides for you. In addition, lengthy court proceedings can increase stress and increase the pressure you and your family are under. Financial agreements are made according to certain sections of the Family Act. If you. B consider a marital agreement, you must conclude your agreement in accordance with section 90B. If you are married or separating from a marriage but are not yet divorced, you need an agreement under Section 90C and divorced couples are covered by section 90D. A binding financial agreement has the effect of preventing the court from making decisions on the adjustment of assets after the Family Act of 1975. It can also manage the maintenance of the spouse and prevent your former partner from applying for a marriage. It is a good idea to try to reach an agreement on how you share your property without going to court.
If you don`t agree, there are family reunification services that can help. If you are unable to reach an agreement, you may have to ask the court for a decision and a judge will decide how to allocate your assets. If you have children, their needs are given priority under the financial agreement, and the amount of support they receive depends on a number of factors. Each situation is different, so it is important to think about the goods you have brought to the marriage and what your life will be like after the marriage ends. Some things to note: For a financial agreement to be legally binding, you must have both: Financial agreements must have clear definitions for real estate categories (including future real estate) as a general rule with respect to property.