Prenuptial Agreements

A prenuptial agreement sets out the ownership of respective assets between the parties to a marriage (or de facto relationship) should that marriage (or relationship) fail. While it may be true that parties to a marriage do not plan to fail, it is equally true that many do fail to plan. In this regard, it is often essential for parties to prepare a prenuptial agreement so as to avoid any potential confusion or dispute over the division of matrimonial assets and liability to pay debts in the event that a relationship does breakdown.

 

One requirement in order that a prenuptial agreement be considered legally binding in Australia is that each party must have received independent legal advice before signing the agreement. At Rankin Ellison, our expert lawyers are able to provide expert advice on your financial rights and obligations under a prenuptial agreement and advise on the potential future ramifications of your consent. We are able to ensure that your agreement complies with the strict legal guidelines as outlined in the Family Law Act (1975) and that your interests are fairly represented.

 

In situations where there is already a prenuptial agreement in place which is no longer fair or equitable, we are also able to advise on the possibility that the agreement will be set aside, enforced or updated. Situations where your agreement may not be enforceable include where a party has not disclosed the full value of their assets or coerces the other into signing, if the agreement does not provide for future children and where the agreement cannot be considered just or equitable.

 

Contact Troy Dobinson in our Newcastle office on 02 4929 9333 or Lynette McDermott in our Sydney Office on 02 8297 5900 for assistance. 

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