Katherine: A marriage contract is an agreement between couples who are considering getting married or establishing a common-stock relationship. It usually covers financial matters, but can also cover other issues (for example.B. the maintenance of spouses). In the Australian family law system, these are called “binding Financial Agreements” (often referred to as “prenups”, as in marriage contracts). These agreements deal with the distribution of net assets and net resources in the event of the breakdown of a marriage/relationship and effectively exclude the family court and the principles set out in the Family Act from participation in this distribution. Sections 90B-90A of the Family Law Act 1975 deal with the financial agreements of married parties, while sections 90UA-090UN apply to de facto couples, including same-sex couples. The law applies de facto to couples in all states and territories except Western Australia. Section 90E of the Family Act 1975 provides that a marriage contract may provide for child support, but only if the child has already been born and can be designated and the exact amount of maintenance is included in the agreement. Note that the terms of a financial agreement, including a marriage agreement, can be overturned by the court if it is determined that they are not in the best interests of the child.
The agreement must also include the parties who have obtained independent legal advice. It must contain a statement by a lawyer about the impact of the agreement on the rights of the party, the advantages and disadvantages for the party, whether it was necessary for the party to enter into the agreement or not, and whether the provisions of the agreement are fair and equitable. In this Melbourne case, in August 2011, the husband, Mr Sullivan, applied to the court for a finding that the financial agreement signed between him and his former wife, Ms Sullivan, was valid and enforceable. It`s helpful to discuss the potential pros and cons of a prenup for each of you. Parties wishing to avoid the delay and lack of control that accompanies family court proceedings are likely to find an attractive financial settlement. For a prenup or other financial agreement to be legally binding in Australia, there are certain strict rules that must be followed when developing them.. . . .