Tag: Financial Agreements

Quick answer: Yes, a DIY separation agreement can be legally binding, but only if both parties get independent legal advice from separate lawyers and exchange signed solicitor certificates, as required under Family Law Act section 90G for married couples. Face-to-face meetings aren’t required, advice given by email or phone is enough, and no court filing […]

Quick answer: No, an Australian divorce settlement is not always a 50/50 split. Courts follow a four-step process, identifying the asset pool, assessing each partner’s financial and non-financial contributions, weighing future needs like age, health, and caregiving, then deciding a fair division, which can end up 60/40, 70/30, or otherwise. There is a pervading myth […]

Quick answer: No, splitting finances when separating in Australia isn’t automatically 50/50. Courts weigh seven factors under the Family Law Act 1975, including financial and non-financial contributions, future needs and relationship length, before deciding a fair split. Around 46% of couples already keep separate bank accounts, but all accounts, joint or sole, still form part […]

Going through a separation or divorce can be a challenging and emotionally draining experience for any couple. In Australia, family law is a complex area, and it’s important to understand the options available when it comes to separating from your spouse or partner. Many people wonder if it is possible to separate without using a […]

Quick answer: A financial agreement in a separation is a document that sets out how property and finances will be divided under the Family Law Act 1975. To be legally binding under section 90G, each party must get independent legal advice and each lawyer must provide a signed certificate confirming that advice was given. In […]

Quick answer: You can start a separation process in Australia simply by telling your partner the relationship has ended, no court filing or mutual agreement needed. From there, notify Centrelink, update insurance and bank details, and consider a Binding Financial Agreement for dividing assets. Time limits then apply, 12 months after divorce for married couples, […]

Quick answer: A separation agreement in Australia can cost as little as $3,299 when you use our Separation Agreement Kit (including BFA planner) and Legal Review Service. Going through a family lawyer for full drafting instead typically costs $300-700 an hour, reaching thousands of dollars for even simple cases. Creating a separation agreement, or binding […]

Quick answer: A binding financial agreement is worth it mainly when there’s real property to protect from future claims, since a signed agreement can’t easily be reopened. Both parties need independent legal advice for it to hold up, and templates are a fixed price versus thousands for a lawyer-drafted one. Married couples can still contest […]

Quick answer: Being legally separated in Australia simply means living separately and apart, with no court approval or mutual agreement needed, one party can declare it unilaterally. It is not the same as divorce, you remain legally married and cannot remarry, and assets acquired afterward can still be claimed without a binding financial agreement in […]

Quick answer: A separation declaration is a written statement, made under section 90XP of the Family Law Act, that records when a couple separated and confirms there’s no reasonable likelihood of reconciliation. It’s not legally binding by itself, but it supports property settlements, superannuation splitting, and government forms. It is especially useful for couples still […]