Before the marriage agreement, sometimes called the marriage agreement, it is established how some or all of a couple`s assets are distributed in the event of a breakdown of their relationship. It can also manage marital maintenance. The popularity of binding financial agreements shows that women and men are taking more financial and legal measures against a breakdown in relations. Most people see it as a form of insurance, a legally binding safety net that I hope they never need. A post-divorce agreement must avoid the need for legal proceedings. It is a versatile document that can be entered into after the divorce to register an asset-sharing agreement between the parties. At Brampton Keats, we create binding Financial Agreement/ Separation Agreement Templates for couples who can fill them out before seeing the lawyers. This saves a lot of hours actually lawyers in the initial phase, and therefore couples save $1,000 in unnecessary legal fees. The agreement will reduce the likelihood of going to court, but you will never be able to eliminate access to the Court, regardless of the wording of your agreement. If one party conceals an important fact, the other party can still go to court, and it is up to the court to intervene and terminate the agreement.
If you live together or intend to live with someone and want to protect yourself from a possible right to your property in the event of future separation, you may want to consider a binding financial agreement (BFA). They are also called marriage or de facto agreements and are fully applicable in the Family Court of Australia and may be signed before or after the move together or before or after the marriage, and also apply to same-sex couples. Unfortunately, without the use of lawyers, you cannot establish a binding and legally enforceable financial agreement. You can`t do it yourself. If you try, it will be unenforceable and, most likely, will not be worth the paper on which it is written. If you are able to meet with your partner to clarify what your agreement needs to accomplish before deciding to run with the lawyers, save a lot of time, money and fear.