Financial Agreements

The Family Law Act  allows married and de facto couples to enter into private Financial Agreements that do not need the review of the Court. Financial Agreements can deal with how couples intend to divide their property and superannuation in the event of separation or after separation has occurred.

Financial agreements can be entered into:

  • Before marriage (also known as pre-nuptial agreements) or before living together;
  • During marriage or during the de facto relationship;
  • After separation; or
  • After divorce.

Financial Agreements are very technical documents and can only be completed with solicitor involvement. We can provide you with advice at any stage of the agreement process; whether you are contemplating having an agreement prepared, your spouse has given you one to consider or you have entered an agreement and have now separated.

Financial Agreements can also reflect any agreement reached regarding spouse maintenance. Importantly, spouses can use these Agreements to agree that neither will make an application to the Court for maintenance in the future. The executed Agreement prevents a party who has signed an Agreement from bringing an application to the Court in relation to spouse maintenance.

Please note our Firm does not prepare pre-nuptial agreements.

Financial Agreements FAQs

Q. Can a Financial Agreement be set aside, terminated or cease to be binding?

A. Yes it can, but it is important to remember that once a Financial Agreement is entered into correctly, it will be considered binding and the setting aside of the Financial Agreement (without the other party’s consent) is a difficult and usually expensive process. The circumstances in which the Agreement can be set aside include:

  • Fraud (dishonesty)
  • The logistics of the agreement are impractical to implement,
  • There has been a major change concerning the care and welfare of children, or
  • One party to the agreement acted in an unconscionable (unethical) way.

Once entered into, Financial Agreements can only be changed by entering a subsequent Financial Agreement which entirely replaces the earlier agreement or by making a written agreement (known as a Termination Agreement), which terminates the earlier agreement.

A Financial Agreement made between de facto partners will cease to be binding if, after making the Agreement, the parties to the Agreement marry each other.

You should not enter into an Agreement hoping that later on you may be able to have it set aside or terminated. You should not rush into entering a Financial Agreement and you should carefully prepare your Agreement with your solicitor.

Q. What terms can be included in your Financial Agreement?

A. Deciding on the terms to be included in your Agreement is largely up to you and the other party. Terms that need to be included to ensure the Agreement is binding include a complete schedule of all the assets, liabilities and superannuation of the parties.

You will need to consider a range of issues and your family law solicitor can assist you with negotiating appropriate and thorough terms to include.

Q. Can people enter a Financial Agreement even if they don’t live together?

A. Yes, a Financial Agreement can be entered into before a couple live together to provide for the circumstances of their separation and how they would divide their property following separation.

Q. What are the advantages associated with entering a Financial Agreement?

A. The Agreement offers certainty of the finalisation of property settlement matters and you will avoid the considerable time, costs and risk in litigating the matter in Court.

There is no requirement that the settlement reached with your spouse is just and equitable.

The Agreement will, as far as the law permits, protect you from future financial claims by your spouse against property that you will retain according to the terms of the Agreement, or other property which you will acquire in the future.

Q. What are the disadvantages of entering into a Financial Agreement?

A. You are contracting out of your right to have the Court determine your entitlement to property settlement.

The Agreement can only be set aside in very limited circumstances pursuant to the provisions of the Act.

There is no scrutiny of the Agreement by the Court (i.e. to ensure it is just and equitable).

There is no process for registering the Agreement with the Court. If you need to enforce the Agreement you must first apply to the Court for a declaration that the Agreement is valid and enforceable; and

The Agreement has the potential to be set aside if either of you were to challenge it and the Court would then have the power to decide your property settlement and spouse maintenance claim.

We hope this information is helpful. Contact us for your own advice by phoning (07) 3221 4300 for a fixed-cost ($330 inc. GST) no obligation 1 hour appointment with a family law expert. We can meet with you in person, by phone or on SKYPE.

Call us Today on

(07) 3221 4300

or send us your question and we’ll get
back to you as soon as possible.

Yes, I'd like to subscribe to the Michael Lynch Newsletter.

In submitting this information I confirm that I agree
with Michael Lynch Family Lawyers privacy policy.

Client Testimonials

Helen’s communication with me was exceptional, I knew exactly what was happening
AA, Eatons Hill
The professionalism and reliability delivered by Amy Honan was fantastic. I had an urgent matter around my property sale and Amy offered to provide assistance over a weekend if I required it – that’s above and beyond!
E.F. Nundah
So pleased to have had a good, sound and knowledgeable firm
CW, Brookfield
I really liked the personable service by Michael, the simple plain language he adopts and his patience
AO, North Brisbane
Elizabeth was very helpful
FP, Kangaroo Point
Amy, thanks very much to you and your team. Throughout my dealings with MLFL I have been continually impressed with your level of professionalism and in particular your understanding of circumstances and the articulate way you conduct yourself. I was completely satisfied with today’s outcome and without your experience and expertise in family law I doubt that the result would have been achieved.
MR, West End
I always felt that the service provided by Michael Lynch Family Lawyers was of a high standard. Each time, after appointments I came away feeling secure. Keep doing what you are and maintain the ‘family feel’ that permeates your services.
CW, Brookfield
Amy’s work was extremely professional but above all she has a manner and wisdom in dealing with people under stress. I will be recommending your firm to anyone that requires assistance.
KH, Augustine Heights
Michael Lynch Family Lawyers always gave me competent and knowledgeable advice. I was always given the best advice and I was consistently kept up to date. The meetings and phone calls were kept business-like, yet caring and thoughtful of my emotional state at the time. Thank you.
J.S. Holland Park
Your newsletters are great, I appreciate them
KB, Carina
I liked my solicitor keeping things as simple as possible
SM, Clayfield
Clare acted with professionalism in all her dealings with me and with the lawyer on the other side. I was always kept in the loop. I liked Clare’s approach. Thanks.
D.S. Coorparoo
Michael Lynch Family Lawyers have really listened to me. I felt confident my case was handled well. The law has changed recently and I did not feel that a previous law practice I spoke to was suitably up-to-date.
PB, Carindale
Michael is a good listener. My documentation maintained the high moral ground.
SS, Hamilton
Thank you for providing me with a professional yet empathetic approach to gain the best outcome for me. My solicitor was excellent in explaining the processes and in representing me in Court. You have great customer service!
T.V. Everton Park
I appreciate you being upfront with fee estimates. You also have a fantastic website and the seminars REALLY helped to get me focussed.
T.C. Tarragindi
You guys provide extraordinary service
AO, North Brisbane
I was impressed by my solicitor’s attention to detail and her concern for me and that the process was explained to me and that I understood it at all times.
BW, Chapel Hill
The staff at Michael Lynch Family Lawyers were great. Helen was fantastic, professional, understanding, caring, she always communicated with me. I knew I was in good hands.
AA, Eatons Hill
I appreciate Elizabeth’s professional approach and her being on top of my situation
NS, Mt Gravatt
Hi Amy,Thank you. You have been diligent, accurate and pro-active for the entire duration of my matter I appreciate it.
RP, Cleveland
Michael knew what he was talking about.
RM, Warwick
I really appreciated the happiness of your secretarial staff
GC, Clayfield
Thank you, you placed my needs first, you were aware of the need to reach a final result and not get caught up in the personal issues of the other party
SL, Moranbah
I like your friendly service and the ability to speak to my solicitor directly
RG, Wishart
Helen was professional, warm, friendly and real
NR, Crows Nest
I like Helen’s personable nature. I was also always confident that I was getting the very best advice
TS, Flinders
May I take this opportunity to express my gratitude to you and your staff for the excellent professional services I received and a special thanks to Helen for the confidence and trust she engendered throughout the entire legal process, in a word, priceless.
DH , Hendra
Michael Lynch Family Lawyers are easy to deal with and their systems are good.
DT, Ferny Grove
I was very impressed with the first initial interview. Everything was well explained and the advice was honest about what I should expect.
CM, Morningside
Amelia is knowledgeable, professional and very calm.
A.C. Helensvale
Helen was very helpful in assisting me to combat a very ugly situation without stooping to the low levels that the other solicitor attempted to take us
MJ, Manly
If I need a family lawyer in the future I’ll be heading to Michael Lynch Family Lawyers again.
CW, Brookfield
I’m very glad Michael is my lawyer and not the other side’s solicitor.
SS, Hamilton
Thank you Helen, you kept me sane in a difficult situation and gave me the encouragement and the confidence to keep going. You made me feel extremely comfortable.
A.M. Chambers Flat
At Michael Lynch Family Lawyers I got professional and no nonsense advice, costs were within quoted amounts and my matter was resolved quickly – well done!
LR, Ascot
Many thanks for your assistance – life is now great – I’m moving on
J.K, Mansfield
My solicitor provided a personalised service, prompt and quick responses and cost information prior to my commitment
GC, Southport
I like that my lawyer treated me like a friend and kept jargon to a minimum. She was easy to contact and kept me informed.
LR, Samford
Hi Clare, Thank you for your ongoing conciliatory approach in this matter and as always I appreciate your level headed advice. I certainly feel that I ended up with the right Solicitor.
SC, Nundah.
Helen provided a personalised and professional service. Information has been clear and provided timely to assist my decision making
SS, Hamilton
Elizabeth is lovely to deal with and provides a balanced view in what are very difficult circumstances
AC, Morningside
Kirstie, thank you for the outstanding legal advice you have provided and professionalism in which you conduct yourself. I am truly thankful that it was you who represented me
MT, Stafford.
Michael is very personable and very good at covering the material and explaining the strategy
JO, Hawthorne
Michael was the most knowledgeable of all lawyers I spoke to when looking for a lawyer. He showed professionalism.
RR, Brighton
Thank you Amelia for being very personable, professional and always providing me with the most appropriate advice in my times of difficulty. The other party’s lawyers were extremely aggressive while Michael Lynch Family Lawyers remained calm and professional.
S.D. Parkinson
Hi Amy, Thank you for all that you have done during this matter. You impressed me with your professionalism from our initial meeting, and you have proven beyond doubt, to have had the skills and knowledge required. You are a credit to the company, and I would highly recommend you to anyone in a similar situation.
RP, Cleveland
Thank you for the great newsletter. Your article on “Coping with Christmas” is brilliant – clear, caring and helpful. Thanks again
CT, Bribie Island.
I have appreciated the way that you and the staff at your firm have handled my situation. I would especially like to mention the professional and caring way Kirstie conducted my case, I am deeply grateful and extremely happy with the results. I will be referring others to your service
JH, Wellington Point.
Helen, Thank you for helping me throgh this difficult time. You have been caring, compassionate and efficient. Some of my divorcing friends have not been so fortunate. In my mind you are the best family lawyer in Brisbane. If anyone I know needs a good family lawyer, I will tell them to speak to you. Thanks again.
B.T. Clayfield
I was guided through a really difficult time with Elizabeth’s expertise. I am more than happy with the outcome of mediation
JH, Windaroo
Michael, thank you again for your presence here yesterday. We really appreciated the clarity and accessibility of your presentation. It is a rare thing to find somebody who not only has expertise, but also has a skill in communicating it.
JS, UQ, Brisbane