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Binding Financial Agreement End De Facto

Binding Financial Agreement end of De facto Relationship

A Binding Financial Agreement end De Facto (pre-nup) template for after the end of a de facto 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 de facto 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 de facto 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 de facto 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 de facto 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

  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.

 

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As there is no formula used to divide your property it is important to have a binding financial agreement.    

 

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