Financial Agreements are binding and enforceable if they are made in strict accordance with the procedures laid down in the Family Law Act. Financial Agreements can be made in a number of different situations as follows:

  1. Before a de facto relationship (Section 90UB Agreement);
  2. During a de facto relationship (Section 90UC Agreement);
  3. After a de facto relationship (Section 90UD Agreement);
  4. Before a marriage (Section 90B Agreement);
  5. During a marriage, regardless of whether separation has occurred or not (Section 90C Agreement);
  6. After a divorce (Section 90D Agreement).

Financial agreements stipulate how property and financial resources are to be divided upon separation. They also deal with the maintenance of either party. They must be in writing and signed by the parties. Each party must have independent legal advice prior to signing. Financial agreements can be terminated by written consent or set aside by a Court.