FINANCIAL AGREEMENT

THIS FINANCIAL AGREEMENT (the "Agreement") is made and entered into on ____ ________________ ________, between the following parties (the "Parties").

BETWEEN:

______________________
of ______________________

OF THE FIRST PART

- and -

______________________
of ______________________

OF THE SECOND PART

BACKGROUND:

1. The Parties were lawfully married on 1 October 2023, at __________
   
2. The effective date of separation is 1 October 2023.
   
3. This Agreement is made under Section 90C of the Family Law Act 1975.
   
4. There are presently no minor children of the relationship. All children born to the relationship or adopted by the Parties, are adults over the age of majority, self-supporting and emancipated.
   
5. Due to certain differences that have developed between the Parties, they agree to live separate and apart from each other, subject to the terms and conditions in this Agreement.
   
6. The Parties have made complete, fair and accurate disclosure to each other on all financial matters reflected in this Agreement. The Parties are each satisfied with the degree of disclosure made as to the other Parties' assets and liabilities. Neither party needs or wants further information. Each party states that he or she fully understands his or her rights and liabilities in relation to the other, and the other's assets, liabilities and income.
   
7. The Parties intend this Agreement to be a final settlement of the Parties' rights to their relationship or joint property and, subject to any required Court approval, the issue of child and spousal/partner support, if any, as the case may be.
   
8. Both Parties are voluntarily entering into this Agreement, and neither has been forced by the other party, or anyone else, to sign it.
   
9. The terms of this Agreement are intended to settle the matters addressed and may be incorporated into a final Court Order, unless specific matters are amended or addressed in a subsequent Financial Agreement.
   
10. The Parties have each consulted an attorney with regards to his or her legal rights arising out of the matrimonial relationship and the terms of this agreement.
    
11. The Parties have each voluntarily entered into this Agreement and have not been forced by anyone to sign this Agreement, and both Parties confirm and state that they are in sound mental health and know of no reason as to why they are not competent to sign this Agreement.
    

IN CONSIDERATION OF the mutual promises exchanged in this document, the Parties agree as follows:

1. PART I - DISSOLUTION
   

2. Effective Upon Signing
   
1. This Agreement shall become effective immediately upon signing by the Parties, but nothing in this Agreement shall prevent the Parties from defending any actions which have been commenced by the one party against the other party to this Agreement.
   
2. Living Separate and Apart
   
2. The Parties may, at all times hereafter, live separate and apart from the other, as if each were unmarried, and may reside in such place or places, and in such manner as each shall think fit. Neither will at any time, require the other to live with him or her, and will not, in any way, molest, annoy, disturb or interfere with the other in his or her manner of living or otherwise, or interfere in any manner with his or her associates or friends.
   
3. Neither party shall by any act, omission, remark, comment, innuendo, or in any way whatsoever, attempt to influence the other party, nor anyone else, in the opinion that they hold of such lifestyle, friends and acquaintances as their spouse may choose for him or herself.
   

4. PART IV - SPOUSAL MAINTENANCE
   

4. This Agreement represents the final result of back and forth negotiation between the Parties as to the actual terms dealt with and content of those clauses. Each party confirms that they understand the nature of this Agreement and the financial and legal consequences of signing this Agreement. Each party had the opportunity to retain their own professional assistance to address any questions or concerns that they had as they negotiated this Agreement and before they executed this Agreement. Each party confirms that they have provided any significant financial information and has not hidden or misrepresented any such financial information. Both Parties have kept any drafts and other documentation to substantiate such negotiation efforts.
   
5. Neither party claims entitlement to spousal maintenance at this time. Both Parties waive any claim to spousal maintenance during the separation, regardless of the length of the period of separation.
   

6. PART V - MATRIMONIAL PROPERTY DIVISION

7. Income
   
6. ______________________'s total annual employment income is $_____________ AUD. ______________________ has no other source of income.
   
7. ______________________'s total annual employment income is $_____________ AUD. ______________________ has no other source of income.
   
8. Matrimonial Home
   
8. The address of the matrimonial home is: _________________________ and is owned by the Parties and will be dealt with as follows:
   
   1. The Matrimonial Home shall be sold and the proceeds divided equally. ______________________ will reside in and have temporary possession of the matrimonial home until it is sold.
      
   2. The expenses relating to the matrimonial home, including but not limited to, upkeep, mortgage payments, utility bills, property taxes, and repair costs, will be paid by ______________________
      
9. Assets
   
9. The Parties acknowledge that they have agreed upon a division of all assets, owned or possessed by them as matrimonial property or separate property. The Parties are in possession of all of those assets to which he or she is respectively entitled. Accordingly, neither makes any claim to any assets in the possession of the other.
   
10. For greater clarification, the Parties hereby relinquish all rights to their interest in furniture or other household effects presently in the possession of the other, and that the other is the absolute owner of them, with the exception of items that the Parties have agreed upon to divide. The Parties further agree that, except as otherwise stated in this Agreement, all of the property:
    
    a. Now owned or possessed by either party; or
    
    b. Which either of them may acquire in the future, shall be deemed to be the property of the person possessing it, and the other party shall have no claim to it, or against it.
    
11. Debts
    
11. The Parties agree that any indebtedness secured against, or attributable to, any item of property that either party is receiving under this Agreement will be the sole responsibility of the party receiving the particular property.
    
12. Any debt incurred by either party after their separation on 1 October 2023 shall be paid by the party incurring that debt, and in the event the other is required to pay it, the party incurring the debt shall indemnify the other for all losses or expenses so incurred, including legal fees on a solicitor/client basis.
    
13. For the purposes of clarification only, the Parties acknowledge and agree that, unless otherwise stated in this Agreement, any indebtedness secured against any assets that either party is receiving under this Agreement shall be the sole responsibility of the party receiving the particular asset.
    
14. After the execution of this Agreement:
    
    a. Each party shall be solely responsible for any loans or debts in his or her name;
    
    b. Neither shall borrow money or incur any debt for which the other would be responsible; and
    
    c. In the event one of the Parties is required to pay a debt incurred by the other, the party who incurred the debt shall repay the other.
    
15. Administration of Estates
    
15. Subject to any other agreement as between the Parties, the Parties relinquish any right or interest of any kind that either might otherwise be or become entitled to claim:
    
    a. Against the other's estate; or
    
    b. Against the heirs, executors, administrators or assigns of the other.
    
    This Release is understood by both Parties to be all-inclusive and to terminate rights otherwise arising in relation to the other's estate from the fact of the Parties' relationship in both the common law and legislation.
    
16. Testamentary Disposition
    
16. Nothing contained in this Agreement shall be interpreted as a waiver by one party of any inheritance that may be left to him or her by the other party in his or her Will or codicil. However, the Parties confirm that neither of them has made any representations or promises to the other of any kind regarding such a gift or inheritance.
    

17. GENERAL CLAUSES
    

17. This Agreement contains the entire agreement between the Parties. Except as provided elsewhere in this Agreement, this Agreement replaces any earlier written or oral agreement between the Parties.
    
18. Notwithstanding that the Parties acknowledge and agree that their circumstances at the execution of this Agreement may change for any reason, including but without limiting the generality of the foregoing, the passage of years, it is nonetheless their intention to be bound strictly by the terms of this Agreement at all times.
    
19. Should any portion of this Agreement be held by a court of law to be invalid, unenforceable, or void, such holding will not have the effect of invalidating or voiding the remainder of this Agreement, and the Parties agree that the portion so held to be invalid, unenforceable, or void, will be deemed amended, reduced in scope, or otherwise stricken only to the extent required for purposes of validity and enforcement in the jurisdiction of such holding.
    
20. This Agreement shall be interpreted in accordance with the laws of  and the property of the Parties shall be governed by it.
    
21. Each party acknowledges that he or she has carefully read and reviewed this Agreement and is completely aware, not only of its contents, but also of its legal effect.
    
22. Even if there has not been a full disclosure of financial information concerning the assets, liabilities and financial circumstances of each party, each party is satisfied with the extent of the other's disclosure and neither party desire further information prior to executing this Agreement.
    
23. The Parties agree to execute any further documentation that may be required from time to time by either party, or their solicitors, to give full effect to the terms of this Agreement. The Parties further agree that they will give to the other all documents, or any and all items, necessary to give full force and effect to the terms of this Agreement.
    
24. The obligations and benefits of this Agreement shall be binding upon the Parties and their respective heirs, executors, administrator, successors or assigns.
    
25. In the event that a dispute arises regarding this Agreement, the Parties will try to resolve the matter through negotiation or mediation, prior to initiating a court action.
    
26. If it becomes necessary for one of the Parties to enforce any term of this Agreement, then the other party shall pay all costs incurred by the other in relation to that enforcement, on a solicitor/client basis.
    
27. This Agreement may only be terminated or varied by written agreement between the Parties.
    
    
28. Headings are inserted for the convenience of the Parties only and are not to be considered when interpreting this Agreement.
    
29. This Agreement may only be varied by written agreement between the Parties. The terms of this Agreement will remain in effect unless the Parties terminate this Agreement in writing and duly signed by both Parties.
    

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