12. Pre-Nuptial Agreements

Q. Can I enter into a Pre-Nuptial Agreement?

A. It is now possible for people in Australia to enter into a Pre-Nuptial Agreement. A Pre-Nuptial Agreement is a type of Binding Financial Agreement (see Part 11). A Pre-nuptial Agreement is a legally binding Agreement between two people who are contemplating marriage to each other. It is only binding in the event that the marriage occurs.

Q. What does a Pre-Nuptial Agreement involve?

A. A Pre-nuptial Agreement is an Agreement that deals with all or any of the property of two people who are contemplating marriage. Pre-Nuptial Agreements can be beneficial, in that they allow people to define their financial rights and responsibilities in the event that they separate, which can help avoid confusion, provide security and minimise legal costs.

As Pre-Nuptial Agreements are legally binding, it is important for people who are contemplating entering into such an Agreement to obtain sound, independent legal advice from an experienced practitioner.