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Binding Financial Agreement

A Binding Financial Agreement is a written agreement, which complies with Part VIIIA or Part VIIIAB of the Family Law Act 1975 (“the act”). Financial agreements deal with the often difficult issue of how to divide property and financial resources in the event of a relationship breakdown. Known more commonly as a Property Settlement Agreement, cohabitation agreement, pre nuptial agreement (prenup, pre nuptual), post nuptial agreements (postnup), or separation agreement and divorce agreements. Amendments to the Family Law Act which came into effect on the 1st March 2009 now make it possible for all couples to make a financial agreement, whether they be hetero defacto, same sex de facto or married.

Financial agreements allow a couple to decide in advance what would be a fair division of their assets, as an alternative to the costly option of having the courts impose a solution.

Avery Gibson Financial Services Pty Ltd (ABN: 45 119 229 980) is a corporate authorised representative of Plan 2 Pty Ltd (ABN: 60 010 875 073), an Australian Financial Services Licensee. (Licence No. 237874)