Level 5, 170 Queen Street, Melbourne, VIC, 3000
Phone: 03 8602 2000 Email: admin@schetzerconstantinou.com.au
FAQ: Financial & Cohabitation Agreements
- Can we make an agreement on what property we get if we separate?
- What can an agreement before or during a relationship do for us?
- We're separated; can we use one of these agreements?
- Is the agreement binding?
Yes, it is called a "financial agreement". An agreement can be made before, during and after the relationship.
Your Agreement can say:
- How you and your partner want to deal with the financial arrangements in your relationship; and
- What will happen to your finances and assets if the relationship ends. This can include dealing with issues of spousal maintenance.
Yes, an agreement can be used after you have separated or even after you have divorced. If you think you can reach consensus after separation then you can use an agreement to set out what you have agreed.
Before a "financial agreement" becomes binding there are a number of formalities that must be in place. Those formalities include:
- The agreement must be in writing.
- You must both sign the agreement.
- The agreement must say that you have both received your own legal advice and your lawyer must sign a certificate saying that this advice has been given.