Agreements Enforceable in the Family Court

It is often the case where separated parties would avoid engaging lawyers from the get go as they believe that it is an unnecessary step in deciding who keeps what; particularly when the asset pool is relatively conservative or who and when a party gets to spend time with the children.

Informal Agreement

Whilst parties may have reached an agreement, it is important to understand that an informal agreement is not legally binding on either party. A lawyer may be required to formalise the agreement.

Binding Financial Agreement (BFA)

A financial agreement is a written document that states how both parties’ properties are to be divided. It can be made before, during or at the end of your relationship. People often recognised BFA as an agreement that was made only for partners who are separated or intending to separate and file a divorce. That is not entirely accurate. In fact, it is encouraged that a BFA is put in place before partners enter into a marriage or a de facto relationship. When both parties are still happy and content with the relationship, it is likely to result in an agreement that is fair to both of them and it will ultimately save them some time and money should their relationship break down.

BFA does not have to be approved by a court, but there are strict rules about financial agreement that has to be complied with to prevent it from being set aside by court. Thus, both parties should obtain legal advice if they want to make a BFA.

Consent orders

A consent order is a written agreement that is approved by the court. When a consent order is made, it has the same effect as a court order made after a hearing.

Before approving the agreement, the court will consider whether the agreement is fair and just for all parties.

Applications for consent orders must be filed in the Family Court of Australia, or if you are in Western Australia, the Family Court of Western Australia.

If you would like to have a Binding Financial Agreement or a Consent Order drafted or find out more about your rights and options, Straits Lawyers are now offering online services at https://straits-lawyers.square.site/product/family-law-binding-financial-agreement-consultation-bfa-/5?cs=true.

Alternatively, you could simply send us an email at info@straitslawyers.com or give us a call on 8410 9069 to arrange an appointment for an online interview.

Please note that this article does not constitute legal advice and Straits Lawyers will not be legally responsible for any actions you take based on this article.