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Binding Financial Agreement end DeFacto

A Binding Financial Agreement end DeFacto (pre-nup) template for after the end of a defacto relationship:s 90UD

The Family Law Act 1975 sets out the general principles the court considers when deciding financial disputes after the breakdown of a defacto relationship (see Sections 90SM(4) and 90SF(3)).

The general principles are the same, regardless of whether the parties were in a marriage or a defacto relationship, and are based on:

  • working out what you’ve got and what you owe, that is your assets and debts and what they are worth
  • looking at the direct financial contributions by each party to the marriage or defacto relationship such as wage and salary earnings
  • looking at indirect financial contributions by each party such as gifts and inheritances from families
  • looking at the non-financial contributions to the marriage or defacto relationship such as caring for children and homemaking, and
  • future requirements – a court will take into account things like age, health, financial resources, care of children and ability to earn.

The way your assets and debts will be shared between you will depend on the individual circumstances of your family. Your settlement will probably be different from others you may have heard about.

Table of contents for Binding Financial Agreement End DeFacto

  1. Assets and liabilities.
  2. Payment
  3. Transfer of real property.
  4. Sale of real property.
  5. Moveable possessions.
  6. Superannuation.
  7. General provisions.
  8. Maintenance [delete if not applicable
  9. Independent legal advice.
  10. Taxes.
  11. Claims for provision out of the estate of a deceased party.
  12. Notices.
  13. Governing law and jurisdiction.
  14. Further assurance.

Execution page.

ANNEXURE A – Assets and liabilities.

Statement under section 90UJ(1) of the Family Law Act 1975. 11

Separation declaration pursuant to section 90UF Family Law Act 1975. 13

Binding Financial Agreement Template for parties who have ended a defacto relationship.

14 pages long.

Binding Financial Agreement end of a DeFacto relationship

This is not legal advice or advice from Precedents Online or its Authors.  If you require further information we recommend you get  legal advice.

If you and your ex-partner agree about how to divide your property when you separate, you can:

  • make an informal agreement
  • apply to the court for consent orders
  • make a financial agreement.

Consent orders and financial agreements are legally binding. You should get legal advice.

Kalde & Associates

 

The following information is general information (not legal advice) provided by LEGAL AID.NSW

What happens when your relationship ends

Answers to questions about your family, your children and your property

Family law is the area of law that deals with particular family matters like divorce, your children and your property.

Most family law issues in Australia are covered by the Family Law Act. If you are married or in a de facto relationship, the Family Law Act will cover any disagreements you might have about your children and/or property.

Even if you are not married or in a de facto relationship, the Family Law Act still covers any disagreements you have about the children of your relationship, for example where they will live.

Children

We have just separated and disagree about arrangements for the children. What should we do?

Try dispute resolution.

Before you go to court about your children, you must:

  • make a genuine effort to resolve the dispute through counselling or mediation; and
  • make reasonable efforts to communicate with the other party.

There are many services that help with counselling and family dispute resolution including Legal Aid NSW, the Family Relationship Advice Line and Family Relationship Centres. See More information below.

Do I have to attend family dispute resolution before I go to court about my children?

Family dispute resolution (also known as mediation) is required before you can start court proceedings about children, unless your case is urgent or involves some exceptional factors such as family violence. The Court usually requires a certificate from a family dispute resolution practitioner before a case about children can go ahead.

What sort of agreements can we make about arrangements for the children?

You don’t have to get formal court orders made about the arrangements for the children – you can organise informal agreements. Many separated parents have informal agreements in place about the parenting of their children.

Agreement is usually reached through negotiation between the parents with or without the help of mediation or counselling services. Neither parent can make the other stick to an informal agreement.

It will often be important to get some legal advice because the agreements you make about where children live and where they spend their time can also affect your property matters and child support.

Parenting Plans

Parents are able to enter into agreements about the arrangements for their children, known as parenting plans. A lawyer, family counsellor, family dispute resolution practitioner or family consultant (“an adviser”) can help you and your ex make a parenting plan.

A parenting plan must be in writing, signed and dated. It can be changed by another signed written agreement. Parenting plans create no legal obligations on either parent. However, the Court can consider what has been agreed in a parenting plan if you have later court proceedings dealing with parenting issues.

Consent Orders

This is an agreement which can be made after negotiating with the other parent, usually with the help of a lawyer or dispute resolution service. A consent order is filed at, and approved by the Courts and is binding because the Courts can be asked to enforce it.

Which courts decide parenting matters?

Family law matters in NSW are dealt with in the Family Courts and the Local Court. In many cases you may file your matter at the Local Court and it will be transferred to the Family Courts. More complex matters are likely to be decided in the Family Courts. Family Courts have procedures that aim to be more responsive to the needs of children.

What is a parenting order and what does the Court consider when it makes a parenting order?

The Courts decide what parenting orders to make for a child on the basis of the best interests of that child. The law says that in determining the best interests of a child, the Court’s primary considerations must be:

  • the benefit to the child of having a meaningful relationship with both of the child’s parents; and
  • the need to protect the child from physical or psychological harm, and from being subjected to, or exposed to, abuse, neglect or family violence.

Additional considerations include:

  • any views expressed by the child, taking into account the child’s maturity;
  • the child’s relationship with each parent and with any other person who is important (eg grandparents, siblings);
  • the effect on the child of any change in arrangements for the child, including separating siblings from each other;
  • the capacity of each parent to provide for the needs of the child; and
  • the willingness and ability of a child’s parents to encourage a close and continuing relationship with the other parent.

The parenting order that the Court makes will cover issues like:

  • who a child will live with;
  • what time a child will spend with a parent or other persons important to the child;
  • how parental responsibility will be shared;
  • how parents will communicate about a child; and
  • how any disputes about what is set out in the orders will be resolved.

Parental responsibility means the duties parents have to their children and the important decisions parents make about their children. Each parent has equal shared parental responsibility for a child unless the Court makes an order changing this.

The Court presumes that parents will have equal shared parental responsibility, unless there has been abuse of a child, family violence, or it is not in the child’s best interests. This means that the parents need to consult each other about the major long term issues affecting a child, such as education, religion, health, the child’s name and changes to the living arrangements of a child that would make it much more difficult for the child to spend time with the other parent.

When an order is made for equal shared parental responsibility, the Court will also consider whether it would be in the child’s best interests or practical for the child to spend either equal time with each of the parents, or substantial and significant time with each parent.

The Court will take into account how far apart the parents live, the effect on the child of any proposed arrangements, and whether the parents can co-operate with each other.

 

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