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IMPORTANT! Financial Agreements only become Legally Binding when each party has received Certified Independent Legal Advice - Click Here for More Information


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Looking for free printable legal separation forms?

You can find anything on the internet these days right?

And if you're separating from your marital or defacto partner you might think that downloading a free printable legal separation form will save you a load of money in legal fees and solve your property settlement problems.

Sadly, if you live in Australia, that is not going to work because it won't be legally binding and has the potential to cause you more problems down the track.

Family Law Legislation in Australia is robust and mandates procedures that need to be followed when a couple wish to divide their financial assets and liabilities due to separation.

There are four ways you can achieve a property settlement - three of these are legally binding.

  1. private agreement (written or verbal);
  2. consent orders;
  3. court orders; and
  4. binding financial agreement.

If you make a private agreement - either verbal or written (using that free printable legal separation form you found online) then it will not be legally binding or enforceable, which means that either party has the right, at some future date, to apply to the court so that a judge will decide what the property settlement should be. This type of agreement will not give you the certainty or peace of mind that you seek.

Applying for consent orders or court orders both involve outside parties who will decide your property settlement arrangement. These two options are usually expensive, time consuming and stressful.

The last option is to make a binding financial agreement.

This is a private agreement made between the parties that complies with the Family Law Act, where the parties have received the required legal advice before they sign the agreement. This type of private agreement is legally binding and enforceable. When it is created properly, by abiding to the Family Law Act, it is very robust and difficult to overturn.

You don't have to spend a fortune in legal fees to obtain financial certainty after a break up, we can show you how to make a binding financial agreement for under $2000 (in most cases) for both parties.

Just a note on terminology. You may see financial agreements referred to with or without the "binding" prefix. This basically refers to whether or not the parties have executed the document. Once the agreement has been executed in accordance with the Act it becomes binding and is referred to as Binding Financial agreements.

Click here to see what a financial agreement should look like in Australia

 


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