Binding Financial Agreements

A Binding Financial Agreement can be made prior to marriage, during the marriage, or after the marriage has broken down. It is available to married couples as well as couples in a de factor relationship and same-sex relationships. 

The process of making a Binding Financial Agreement involves both parties disclosing information about ALL relevant assets, including oversea assets. It also involves any cryptocurrencies that either party holds. Failure to disclose all relevant assets may result in a void Binding Financial Agreement. 

Further, you would need to disclose all debt and financial resources, such as your superannuation.

But what if the other party intentionally conceals information about his/her assets? For example, what if he/she never mentions mentioning his/her crypto asset accounts? How can you obtain information about his/her concealed assets? In situations like this, we would recommend that you hire a lawyer, who can help you discover the other party’s assets when you are uncertain. 

To read more about Binding Financial Agreements, we have prepared an article here.