Effect of death on financial agreements


Family Law Act 1975: Section 90H:

Effect of death of party to financial agreement

A financial agreement that is binding on the parties to the agreement continues to operate despite the death of a party to the agreement and operates in favour of, and is binding on, the legal personal representative of that party.

Family Provision Act claim

It is usual to include a clause in a binding financial agreement pertaining to each parties' rights to make a claim on the other party's estate under the State's family provision act, e.g

Release of rights to apply for a provision order:

Subject to the approval of the Supreme Court of {State or Territory] pursuant to the legislation relating to the release of rights to apply for a provision order, each of the parties hereto releases his or her rights to make an application in relation to the estate of the other pursuant to such legislation is respect to the subject terms and assets and liabilities, the subject of this Agreement.

Please call AussieLegal on 1300 728 200 for more information on Binding Financial Agreements under Australian law for a fixed price of $1,875.00 including legal advice and certification from 2 independent family law solicitors.