Domestic Relationship (Binding Financial) Agreement New South Wales with Bonus Legal Will Kit

Recent changes to the Family Law Act has altered the way de facto relationships are dealt with in NSW. The State has transferred its powers to the Commonwealth and as such all domestic relationships are now regulated by the Family Law Act 1975.

This means -

• The name of the agreement has changed - Domestic Relationship Agreements also known as Cohabitation Agreeements are now referred to as Financial Agreements and are classified under particular sections of the Act.
  • Section 90UC - for couples already living together and
    
    
  • Section 90UB - for couples intending to live together (but not yet sharing a residence)
  
  
• The way property (including superannuation) and spousal maintenance is dealt with has changed - de facto couples, either hetero or same sex now enjoy the same rights as married couples in the eyes of the law as long as they meet certain criteria
  

The bottom line is “what’s yours is mine and what’s mine is yours” unless you enter into a Financial Agreement which spells out your intentions differently.

A Financial Agreement allows you to control what will happen to your financial resources in the event of or following separation, by quarantining some or all of those assets from future court action. This might include a house, business interests, family assets or an inheriance.

Binding Financial Agreement 90UC Immediate Download	AU $129.95
Binding Financial Agreement 90UB (Couples intending to live together)	AU $129.95

When to use this agreement

A Binding Financial Agreement (made under section 90UC) is made between two people (hetero or same sex) who are living together but not intending to get married.

Couples intending to get married should define their relationship with a section 90B pre nuptial agreement .

In the event of separation a FA will clarify

• how to divide assets and financial resources,
  
  
• child support and maintenance issues,
  
  
• other issues the couple believe important.
  
  

A Financial Agreement prevents the parties from going to Court for orders relating to the property covered in the Agreement. This means the financial and emotional costs associated with a contested property dispute are greatly reduced, handing parties greater control over the outcome than a court adjudicated dispute

Talking about what would happen if you were to separate can be a touchy subject, and a reluctance to talk of such things is understandable.

However, if you can overcome this early discomfort and talk frankly with your partner when you both intend to live happily ever after, you are more likely to achieve a fair and equitable agreement.

In fact practicing the skill of honest, open communication about important issues such as money, property, and family is more likely to bring you closer together and prevent separation. It can reduce doubt about future financial issues and help each party to feel more secure within their relationship.

When establishing your Agreement it's sensible to give some thought to effecting a legal Will, that's why we've included a bonus Will Kit.

This comprehensive Financial Agreement Kit has been drafted to comply with the provisions of the Family Law Act 1975 and provides all the guidance you need to create a legally binding, protective Financial Agreement.

Your financial agreement kit includes a comprehensive manual that explains the law as it applies to this agreement. It will show you in simple terms how to thoroughly cover important legal requirements, and how to complete your agreement in detail. In addition, it contains alternative legal clauses and provisions you can use to personalise your agreement.

It includes

• the Financial Agreement
  
  
• an easy-to-follow instruction manual
  
  
• sample agreement and several sample clauses to assist you in drafting your own professional agreement.
  
  
• Bonus Last Will and Testament Kit

Important note: The Family Law Act requires each party to receive independent legal advice before signing the agreement. This ensure both parties fully comprehend their rights before entering the agreement and prevents misunderstandings.

Sample Document Excerpt

The Agreement was exactly what I was looking for - simple and concise. Chris H. Sheldon

Our fully secured ecommerce system allows you to purchase and download your Binding Financial Agreement safely. In just a few minutes you can have everything you need to secure your relationship and provide peace of mind.

Financial Agreement 90UC Immediate Download	AU $129.95
Financial Agreement 90UB (for Couples intending to live together)	AU $129.95