Prenuptial agreement is a type of agreement between couples who are thinking of entering a de facto relationship. This particular agreement is known to cover financial matters generally, but may cover other issues as well. In the family law system of Australia, these agreements are known as Binding Financial Agreement or “prenups”. With the help of these agreements, the net assets and resources will be divided when a relationship or a marriage breaks down.
It also effectively excludes the family court along with the principles, which are set out within the Family Law Act for having any say on that particular division. Couples are known to enter a prenup even before they start a relationship or get married. However, the needs of the agreements are very strict, which also includes that both the parties obtain their legal advice, independently.
According to the Australian Bureau of Statistics, it has come to light that the median age for males to get a divorce is 45 years and for females is 42.5 years. Therefore, the average length of the marriage is about 12 years before the divorce takes place. Through a recent survey, 60% of the Australians have said that they are happy to sign a prenuptial agreement, 20% of them will think of considering it, and the other 20% finds it to be rather insulting.
So, it doesn’t matter if it is a marriage or a de facto relationship, the agreement will only be made after or during the relationship. For this type of agreement, you will need the help of the family lawyers Perth, as they are professional and carry a great deal of knowledge regarding the prenuptial agreement, and the steps taken to make the final call.
How will the family law solicitor help in the process of a prenuptial agreement?
The mutual agreement made between you and your significant other will not be enough. This is because it needs to legalise and through this particular agreement it will stop the Family Court from getting involved any further once the relationship/marriages end. The prenuptial agreement must obey all the legal needs and you also need to carry a certificate from the law itself, which will declare that you have made all the necessary arrangements.
The family lawyers near meare professional and highly experienced, and they can make a prenuptial agreement for you. The team of lawyers will provide you with their best advice on your rights by going through the assets, which belongs to you and your partner. Through that, they will make sure to place you in the best situation through the process of negotiation.
However, if you are significant other is not willing to cooperate, then the prenuptial agreement lawyer Perth, will work with you hand-in-hand and come up with a formalised agreement. The team of prenuptial lawyers from Perth, are known to be pretty understanding and are expert in their field of work. Remember, the rules and regulation for both de facto relationships and marriages are the same.
The family law solicitors Perth will be at your service whenever you need them and will take care of the needs, which are necessary for the prenuptial agreement. Based on your situation, a prenuptial agreement can be pretty complicated, for which the assistance and guidance of a helpful and experienced lawyer will help you the process. You will also get to learn about the agreement in details and receive legal advice as well.
The benefits of a prenuptial agreement
Several benefits come along with the prenuptial agreement, which is mentioned below. They are:
The finality: The prenup will help in setting out your assets in a way so that the Family Court cannot alter the agreement. This means, during any type of dispute, it will be dealt through the agreement itself.
Security: With the help of the prenuptial agreement, you will get a peace of mind on how the arrangements in the future will be carried out. In other words, you and your partner can make proper plans without worrying about the future.
The tax benefits: Transactions, which are carried out by agreeing the BFAs (Binding Financial Agreement), which attracts the same advantages as that of a Family Court. This means the parties who are to exchange or receive a property will be rewarded with a considerable amount of savings on capital gains tax, and state the transfer duty on the appropriate cases as well.
The prenups are private: This particular agreement will only be done between the best family lawyers Perth and the parties, and apart from that, no one else. This is considered to be pretty different from the procedure performed in court, where the friends and families can be called at witnesses.
Cost and time: Entering and preparing for a prenuptial agreement is not an extended process. Once both the parties agree to the terms and conditions, then a BFA along with a letter of advice will be prepared, which will take 1-2 weeks. However, the agreement will be taken care of by the top family lawyers Perth, as they will work behalf you and prepare everything to ready the agreement.
What does the prenuptial or prenup agreement covers?
Prenuptial agreements are known to include various types of matters. The prenup will include how the assets and resources between both parties will be divided during the time of the breakup. However, it can include other types of matters as well and all prenups are different, which makes them much more flexible than the court orders.
To provide you with a proper understanding of what prenups can cover, for example, through this agreement matters including child support and conditional arrangements will be added. This is something which the Family Court cannot cover for which prenuptial agreement becomes the ultimate choice in the process.
Final words to share
With the above-mentioned information provided in this document, it will be easier for you to have a clear image on a prenuptial agreement, and how the lawyers will help you. By following information mentioned here, it will help you take the right step and make the best decisions.