Entering into a Financial Agreement is one way to minimise the complexity, delay, stress and cost associated with arranging your finances after separation.
A Financial Agreement can also set out how you and your spouse agree to treat your property, superannuation, financial resources and liabilities during your relationship and how they are to be dealt with should you separate.
We take a careful and supportive approach to the preparation of Financial Agreements: having a conversation with your spouse about what happens if you choose to separate is not an easy conversation to have.
In our experience, having that conversation can be empowering and strengthen a relationship, allowing spouses with different financial circumstances to have more confidence to invest financially in the future together once the ground rules have been made clear.
We work with counsellors and other specialists in the preparation of Financial Agreements, and we work closely with accountants, tax agents and wealth advisors to ensure the best arrangements are made for each client.
The law in relation to Financial Agreements in Australia is complex and there have been a number of important legal decisions made by courts about the enforceability of Financial Agreements once they have been entered into and later relied upon by a party.
It is a requirement that each party to a Financial Agreement has independent legal advice, and we regularly help our clients maximise the benefits a Financial Agreement can offer them and their relationships.