Prenuptial Agreement - What is a Prenup?
A Financial Agreement made before marriage is more commonly known as a prenuptial agreement or 'prenup'.
Essentially a prenup is a practical plan for how the assets, debts and other matters to do with the marriage will be dealt with if the relationship breaks down.
Putting an agreement in place gives the couple peace of mind and offers certainty about the future. It stops niggling doubts and settles the "what happen's if?" questions.
No need to go to Court
A prenup is an alternative to court action. It is a method for the parties to negotiate a settlement of their family issues in the event of future separation. This means that, at least insofar as they concern money and possibly child maintenance issues, the couple has resolved its issues in advance without needing the court to impose a solution.
Financial agreements can reassure and comfort people entering marriage. They are recognised and enforceable under the Family Law act and can save you time, money and heartache.
Common issues that can be dealt with
Couples marrying later in life or for the second or third time often need to consider more complicated issues such as the provision for children, the protection of assets and the protection of inheritances.
- Provision for children
People with children from prior marriages or relationships often wish to ensure that they protect certain assets from claim, preserving those assets for the benefit of their children. Putting an agreement in place has the added benefit of relieving some of the tensions that may arise when children see the new spouse as a threat to their inheritance.
- Protection of Assets
Partners often have their own finances, businesses, houses or investments that they want to maintain control over. Putting a written agreement in place that determines in advance what's yours, mine and ours reduces the possibility of such issues being the cause of a relationship breakdown and can actually strengthen the relationship.
- The Protection of an Inheritance
Financial Agreements (FA) are an essential tool particularly in cases where the spouse to be is likely to inherit family owned property or wealth from the rich uncle. As part of an overall strategy to maintain control of family owned assets, a FA will ensure your family wealth remains with the family members and not shared with an estranged partner.
Getting Married Soon?
A prenup takes care of the financial and practical matters of your future life together.
IMPORTANT! - it is inadvisable to enter a prenuptial agreement within two weeks of your wedding. You won’t find this warning anywhere in the Act it’s just something our lawyers believe could go to proving undue influence.
If you are running out of time and cannot formalise the prenup before the big day then you can always make a postnuptial agreement after the wedding which will work just as effectively as a prenup.
Professionally drafted prenuptial agreement with complete instructions only $129.95 - Instant Download
You receive -
- the Prenuptial Agreement
- an easy-to-follow instruction manual
- prenup sample including several sample clauses to assist you in drafting your own professional agreement.
- PLUS Free Bonus Legal will Kit
- access to our fixed price Document Review Service
Important note: Section 90G of the Family Law Act requires that each party to the agreement receive independent legal advice before the agreement has any legal force, we have introduced our Agreement Review Service as an affordable way to receive the correct certification
Sample Excerpt - Click to enlarge
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