This document creates a binding financial agreement for parties who are contemplating entering into a de facto relationship.
Note: This document assumes that both parties are ordinarily resident in WA.
The agreement will be created under section 205ZN of the Family Court Act 1997 (WA).
A financial agreement pursuant to section 205ZN of the Family Court Act 1997 (WA) is a binding financial agreement:
1️⃣ By two parties who are contemplating entering into a de facto relationship; and
2️⃣ Providing how, in the event of the breakdown of the de facto relationship, all or any of the property or financial resources of either or both of parties at the time when the agreement is made, or at any later time before the breakdown of the de facto relationship, is to be dealt with.
The parties must enter into a de facto relationship within the meaning of section 13A of the Interpretation Act 1984 (WA).
Important: Independent Legal Advice for both parties from their own lawyer [before they sign] is required for the prenup to be valid!
It's a critical element for the validity of a binding financial agreement that both parties are provided with independent legal advice from their own respective Australian legal practitioners.
This must happen before the parties sign the binding financial agreement.
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