You are reading this message because your browser either does not support JavaScript or has it disabled. Please enable JavaScript and Cookies in order to use this site.
If your browser is not JavaScript capable, you can obtain either Firefox or Microsoft Internet Explorer. Under Linux, any browser using the latest Mozilla engine should work.
FINANCIAL AGREEMENT
THIS FINANCIAL AGREEMENT (the "Agreement") MADE ON ____ ________________ ________.
BETWEEN:
______________________of __________- AND -______________________of __________
NOW THEREFORE in consideration of the upcoming marriage, and in consideration of the mutual promises and covenants contained in this Agreement, the Parties agree as follows:
IN WITNESS WHEREOF the Parties have hereunto set their hands and seals on ____ ________________ ________.
SIGNED, SEALED AND DELIVEREDIn the presence of:
_____________________________WitnessPrinted Name: _________________
______________________________________________
CERTIFICATE OF INDEPENDENT LEGAL ADVICE
THE AUSTRALIAN CAPITAL TERRITORY
I, ________________________, of the City of ___________________, in the Australian Capital Territory, Solicitor, DO HEREBY CERTIFY:
THAT I was this day consulted in my professional capacity by ______________________, named in the within instrument, being a Financial Agreement, separate and apart from ______________________, as to his legal rights and liabilities under the terms and conditions of the said Financial Agreement, and that I acted solely for him. I explained fully to him the nature and effect of the said Financial Agreement on his rights and the advantages and disadvantages to him of entering the said Financial Agreement. He did execute the said Financial Agreement in my presence, and did acknowledge and declare that he was executing it of his own volition and without any fear, threats, compulsion or influence from ______________________, or any other person.
DATED at the City of ___________________, in the Australian Capital Territory this ____________ day of _________, 20___.
________________________SOLICITORPrint Name: _____________
I, ______________________, the person named in the annexed Financial Agreement, hereby acknowledge the foregoing this ____day of ______________20___.
THAT I was this day consulted in my professional capacity by ______________________, named in the within instrument, being a Financial Agreement, separate and apart from ______________________, as to her legal rights and liabilities under the terms and conditions of the said Financial Agreement, and that I acted solely for her. I explained fully to her the nature and effect of the said Financial Agreement on her rights and the advantages and disadvantages to her of entering the said Financial Agreement. She did execute the said Financial Agreement in my presence, and did acknowledge and declare that she was executing it of her own volition and without any fear, threats, compulsion or influence from ______________________, or any other person.
________________________SOLICITORPrint Name: _________________
A Prenuptial Agreement is also known as a:
A Prenuptial Agreement, also known as a prenup, is a written contract that spouses create before they are legally married. Prenups should outline each partner’s finances, substantial belongings, and debt, and clarify which property is shared or separate. If completed properly, prenups should specify how spouses want their shared property and finances divided if they end their marriage.
If you have children from a previous relationship, a prenup can help ensure that your children receive their proper inheritance if you pass away.
Couples who are not getting married but intend to move in together can create a Cohabitation Agreement to specify their current and future financial and property rights.
Shared property is property or assets that spouses own together, such as money or possessions that they acquire during the relationship. If a couple divorces, their shared property is subject to equitable distribution. If spouses do not have a prenup, a court’s final ruling divides their shared property.
Separate property is property that only one partner owns. In the event of a divorce, separate property remains with the individual spouse. Generally, a person must acquire an asset before marriage for it to qualify as separate property. This type of property can be purchased, gifted, or inherited.
Prenups can protect both spouses in the event of a divorce, speeding up the process and simplifying the division of assets. Furthermore, they can help eliminate future conflict if spouses decide to end their relationship.
Prenups can be more beneficial for certain groups of people. Business owners, heirs of a family business, or individuals who own a professional practice may use a prenup to protect their livelihood. Individuals who are wealthier than their spouse or expect to receive a large inheritance may also see the value in Prenuptial Agreements. Also, any person with minor children from a previous relationship should consider creating a prenup to protect their children’s property rights.
Yes, if executed properly, courts can recognize Prenuptial Agreements and enforce them during a divorce. For a prenup to be binding in Australia, both parties must receive independent legal advice and each must attach a certificate of independent advice to the prenup (and provide the other party with a copy of the certificate).
All contracts, including Prenuptial Agreements, must meet certain criteria before courts can enforce them. For a court to consider enforcing a prenup, certain requirements must be met:
Before signing and agreeing to the terms of a prenup, you must secure a certificate of independent legal advice from a practicing lawyer. You and your spouse must obtain certificates from different lawyers.
Lawyers can clarify prenup terms and explain the impact of signing a Prenuptial Agreement. With a certificate of independent legal advice, you can reassure courts that neither party was forced to agree to terms that they do not completely understand.
A certificate of independent legal advice does not guarantee that courts will recognize your prenup. However, it is more likely your prenup will be recognized with a certificate of independent legal advice. Without one, your prenup will not be recognized.
Yes, you can easily create a prenup without a lawyer by completing LawDepot’s questionnaire. LawDepot asks for details about you and your spouse, as well as your assets, debts, and children. Also, you can include information about your preferences for spousal maintenance or support.
However, once your document is complete you must involve lawyers. Separately from your spouse, you must take a copy of your Prenuptial Agreement to a lawyer, have them review it with you, and obtain a certificate of independent legal advice. Your spouse must take a copy to a different lawyer and obtain a separate certificate. Once you've both received such a certificate, you can sign the prenup with your partner, in front of a lawyer or other witness.
Primarily, prenups dictate the division of spousal finances. Spousal finances include more than just a couple’s joint bank account; they include everything with monetary value that contributes to your overall worth as a couple.
LawDepot’s Prenuptial Agreement template will cover division of income, properties, businesses, investments, inheritances, and joint debts. Prenups also specify details about spousal maintenance (also called spousal support).
It’s no secret that Prenuptial Agreements can be a taboo subject to discuss between partners. Furthermore, they are often misunderstood as destructive documents that can create hostility between spouses. However, if you maintain a level head while creating a prenup and keep both spouses’ interests in mind, Prenuptial Agreements can provide immense protection and peace of mind.
In reality, prenups can ensure that spouses do not make irrational and unfair decisions if they find themselves pursuing a divorce. Ending a marriage can involve plenty of resentment and hurt feelings. Prenups dictate the division of assets, so both parties are not making decisions while they are experiencing conflict. Anger-fueled decisions can result in additional conflict and further divide a family.
It is advisable to create and sign a prenup at least a month before your wedding. If you are not having a wedding ceremony, create one before you sign the paperwork to legalize your union. By creating a Prenuptial Agreement, each spouse knows the financial expectations and desires of the other before becoming legally bound.
No, prenups must be created before you are married. If you are already married, you must use a postnuptial agreement. Like prenups, spouses use postnuptial agreements to specify their separate and shared property and outline the division of their assets, in the event of a breakup or death.
Ultimately, no one can tell you whether you should or should not sign a Prenuptial Agreement. Everyone’s circumstances are completely different. For instance, some individuals may deal with family expectations to protect a family estate with a prenup. For other couples, signing a prenup before their wedding day might be too emotionally demanding. Whatever your circumstances are, you must advocate for your best interests.
If you are unsure about signing a prenup, consult with a legal professional to look over you and your partner’s prenup—before you sign. Discussing your situation with an unbiased lawyer can help protect your interests.
Note: Your initial answers are saved automatically when you preview your document.This screen can be used to save additional copies of your answers.