Binding Financial Agreements

Cobb Law can help you draw up a Binding Financial Agreement before, during or after your marriage or de facto relationship. Binding Financial Agreements save arguments, confusion and spiralling legal costs if couples separate.

Binding Financial Agreements - Gold Coast - Binding Financial Agreements are covered under the Family Law

Binding Financial Agreements are covered under the Family Law Act 1975. The different types of financial agreements include:

  • After divorce – 90D
  • After the breakdown of a de-facto relationship – 90UD
  • During a marriage – 90C
  • During a de-factor relationship – 90UC
  • In contemplation of marriage – 90B
  • In contemplation of a de-facto relationship – 90UB

The different types of financial arrangements available under the Family Law Act 1975 may be used for the following arrangements:

  • Maintenance of spouse and children
  • Division of debts, finances, and property
  • Superannuation and Shares
  • Other shared financial matters

Cobb Law has the Mediation and Dispute Resolution expertise to help our clients get the best outcome with a minimum of stress and cost. Our independent, fully trained mediator will negotiate from a position of knowledge and trust on your behalf and ensure that you understand your rights and responsibilities throughout the entire process.

Both parties must seek independent legal advice before signing to ensure their agreement is legally binding. Keep in mind, however, that Binding Financial Agreements are not a court order and may be set aside by a court of law if the agreement is deemed to breach equitable contractual principles. A court must also be used in disputes about the validity, enforcement or termination of a Binding Financial Agreement and may grant contractual remedies.

Points to Remember

  • Financial Agreements are legally binding after death in all states of Australia. Clients in NSW can include a deed of release in a financial agreement which will generally be considered sufficient evidence by the Court to approve a release
  • Even if both parties agree to ‘no claim’ for maintenance, the Court has the power to over-ride this provision if one party is in receipt of a means-tested Government Benefit

Cobb Law provides excellent legal representation, an initial free twenty-minute consultation, and fixed-fee representation. Our terms and conditions are easy to understand and there are no hidden costs or unpleasant surprises. Find out more about Cobb Law from our FAQ page and our client testimonials.

If you want to know more about Binding Financial Agreements, please call us today. Even though we are based on the Gold Coast we service Northern New South Wales, Gold Coast and Brisbane.

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