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A prenuptial agreement is the contract that two people sign before they get married. This is primarily done to ensure that all liabilities and assets and are distributed in a fair manner in case of either divorce or death. A prenup is a very important legal tool as it helps protect assets such as real estate, trust funds, family businesses, stocks, jewelry, bonds and inheritances. Nobody really plans to fail in their personal life. However, no matter which avenue of life you consider, there are always eventualities. No one marries with a view of divorcing the person and that is exactly why a large number or Australians do not think of a prenuptial agreement as something that is critical or even essential. It is possible for couples to plan their future responsibilities and rights via a binding financial agreement. This agreement is a contract that is entered into between two parties either before or post the wedding date. It addresses the issues that are outlined in the 1975 Family Law Act. Australia also recognizes de facto agreements or cohabitation agreements. These confirm the parties' financial and non-financial rights if and when a de facto relationship ends. When it comes to a prenuptial agreement, it is critical that you hire a Melbourne lawyer who will understand your specific requirement. All your assets and business will have to be taken into consideration and all the necessary clauses will have to be added in your agreement document. Most Melbourne lawyers who handle prenuptial agreement jobs are specialized in the family law field. There are stringent legal requirements that have to be adhered to. It is possible to enter into a prenuptial agreement at any stage. Either before, during the course of a relationship or even after it ends. Melbourne lawyers will need the agreement from both the concerned parties. Prenuptial Agreements cover a range of requirements. Spouse maintenance and property division are covered under it. Other factors such as the possibility of children being born or even the length of the marriage has to be taken into account. A Melbourne lawyer will be able to help you with all the nitty-gritty’s of a prenuptial agreement by provisioning for different splits of assets. These will be dependent on things like how long a marriage lasts, the size of the asset pool or the number of children that are born to the couple. All these factors are important and will have to be covered in a comprehensive prenup agreement. Even married couples can enter into a Financial Agreement that will provide for how their assets have to be divided in the event that the marriage breaks down later. De facto couples or even same sex couples in Victoria are governed by the Family Law Act. The Family Court has the power to set aside any Prenuptial Agreements that do not comply completely with the Family Law Act or if there has been some undue influence, fraud or even non-disclosure at the point of time that the Agreement had been made. It is best to have a good lawyer draw out your prenuptial agreement to avoid any undue trouble in the future. Resource box: A Melbourne Lawyer from Coopers Lawyers can help with your prenuptial agreements. Melbourne Lawyers are well versed in family law.
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