Example Of A Binding Financial / Separation Agreement Sample

What Is A Binding Financial Agreement?

A Binding Financial Agreement (generally known as a Separation Agreement) is a legally binding agreement made between two former couples. The primary purpose is to put in writing the agreed financial arrangements once the parties’ relationship has broken down. Sections 90B-90KA of the Family Law Act apply to financial agreements for marriages. Sections 90UA-90UN apply to financial agreements for de facto couples (though it won’t apply to de facto couples residing in WA).

It is a quicker, less expensive and less stressful option than a court-imposed order. Especially if you understand the secret to a property settlement agreement in Australia

Sections In Our Binding Financial Agreement

At Brampton Keats, we create Binding Financial / Separation Agreement templates for couples to fill out before seeing lawyers. This saves a lot of hours actually seeing lawyers during the initial stages, and thus saves couples $1000s in unnecessary legal fees.

To give you an example of what is in our Binding Financial Agreements, here is a brief outline of the sections we include:

• 1. Details & General Terms
• 2. Definitions
• 3. Separation Declaration
• 4. Marital status and children
• 5. Property and financial resources
• 6. Sale of Property
• 7. Superannuation entitlements
• 8. Other property
• 9. Spousal maintenance
• 10. Representations
• 11. General provisions
• 12. Signing page
• Schedule 1 – Assets and liabilities of the First Partner
• Schedule 2 – Assets and liabilities of the Second Partner
• Schedule 3 – Assets and liabilities held jointly by the First Partner and the Second Partner
• Annexure A – Separation Declaration
• Annexure B – Certificate of Independent Legal Advice

Download A Binding Financial Agreement Sample

If you want to view a more detailed example of our Binding Financial Agreement, please click the button below.

For more information about how to effectively implement a Binding Financial / Separation Agreement (including viewing a completed agreement), please visit our main page