Binding Financial Agreement Review

A recent high court of Australia decision, known as Thorne v Kennedy, caused a stir in the press and the legal fraternity because it was seen as a challenge to the use of binding financial agreements, particularly the commonly referred to as “pre-marriage agreements” “I recently acquired a document verification service. I just wanted to say how satisfied I was with the services of rpemery. At a time when time is a precious asset, your services fill the void brilliantly. After purchasing the ag-90UC financial contract document, I was updated every step of the way by regular emails. What attracted me was all the work already done for the client, all we had to do was add our personal data. I do not recommend the document verification service too much. Also financially, it was very competitive, and all on the letter of the law. Finally, the communication was greeted pleasantly and kindly by telephone requests. A big thank you and I wish you even more success Salutations” Wadih Dona Binding Financial Agreements (BFA) are written agreements that define how your wealth will be split in case of separation.

It encompasses both de facto and marriage relationships. They are often called marital agreements. In fact, a BFA can deal with all financial and wealth issues between the parties, including the spousal removal of support rights. If your partner has prepared a BFA project, we will review the agreement with you and give you the advice required by the relevant laws. Counsel understand that both parties have spent a great deal of time negotiating an agreement acceptable to both parties, and they simply need additional security and legal advice. The Family Act requires each contracting party to obtain independent legal advice on the pros and cons of entering into the contract. An agreement in a non-combative atmosphere minimizes costs, strengthens the parts and reduces stress. About 11 days before their wedding, Mr. Kennedy told Ms. Thorne that they would see lawyers on signing an agreement.

He told her that if she did not sign, the marriage would not take place. An independent lawyer informed Ms. Thorne that the agreement had been reached solely to protect Mr. Kennedy`s interests and that she should not sign it, saying it was the worst deal he had ever seen! But she relied on Mr. Kennedy for everything, believing that she had no choice but to sign the agreement. In this short introductory video, we look at the circumstances under which you should consider a binding financial agreement. Ms. Thorne filed a lawsuit in the Federal Court of Justice to quash the agreement and request a transaction. Mr. Kennedy died during the proceedings, which was then pursued by two of his children who were the executors of his estate. Paragraphs 90B-90KA of the Family Act (Married Couples) and Section 90UA – 90UN of the Family Law (Defacto) allow the parties to enter into a binding legal agreement for their financial agreements.