Financial agreements after divorce

Family Law Act 1975: Section 90D:

Financial agreements after divorce order is made

(1)  If:

      (a)  after a divorce order is made in relation to a marriage (whether it has taken effect or not), the               parties to the former marriage make a written agreement with respect to any of the matters                   mentioned in subsection (2); and

            (aa)  at the time of the making of the agreement, the parties to the former marriage are not the                      spouse parties to any other binding agreement (whether made under this section or                              section 90B or 90C) with respect to any of those matters; and

       (b)  the agreement is expressed to be made under this section;

             the agreement is a financial agreement. The parties to the former marriage may make the                    financial agreement with one or more other people.

(2)  The matters referred to in paragraph (1)(a) are the following:

       (a)  how all or any of the property or financial resources that either or both of the spouse parties                 had or acquired during the former marriage is to be dealt with;

       (b)  the maintenance of either of the spouse parties.

(3)  A financial agreement made as mentioned in subsection (1) may also contain:

       (a)  matters incidental or ancillary to those mentioned in subsection (2); and

       (b)  other matters.

(4)  A financial agreement (the new agreement) made as mentioned in subsection (1) may terminate a        previous financial agreement (however made) if all of the parties to the previous agreement are            parties to the new agreement.

Please call AussieLegal on 1300 728 200 for more information on Binding Financial Agreements under Australian law for a fixed price of $2,975.00 including legal advice and certification from 2 independent family law solicitors.