A Pre-Marriage Agreement is a crucial legal document used in Australia when two individuals plan to enter into marriage and wish to establish clear financial arrangements both during their marriage and in the event of separation. This agreement, governed by the Family Law Act 1975 (Cth), provides a framework for protecting assets, managing financial obligations, and establishing clear guidelines for property division. It requires careful consideration of existing assets, future financial plans, and potential scenarios, along with mandatory independent legal advice for both parties. The agreement must comply with strict legislative requirements to be legally binding and can cover aspects such as property division, financial maintenance, business interests, and inheritance rights. It's particularly relevant for individuals with substantial assets, business interests, expected inheritances, or those entering second marriages.
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1. Parties: Full legal names and details of both parties entering into the agreement
2. Background: Context of the agreement, including the parties' intention to marry and their desire to determine financial matters
3. Definitions: Comprehensive definitions of terms used throughout the agreement
4. Independent Legal Advice: Acknowledgment that both parties have received independent legal advice, as required by the Family Law Act
5. Property Division: Detailed provisions for how existing property will be treated during marriage and in case of separation
6. Financial Obligations: Ongoing financial responsibilities and arrangements during marriage
7. Separation Provisions: Terms and conditions that will apply if the marriage breaks down
8. Maintenance and Support: Provisions regarding spousal maintenance and financial support
9. Dispute Resolution: Process for resolving any disputes arising from the agreement
10. Severability: Clause ensuring that if any part of the agreement is invalid, the rest remains enforceable
11. Governing Law: Specification that the agreement is governed by Australian law
12. Execution: Formal execution provisions including signing requirements and witness details
1. Business Interests: Provisions dealing with existing or future business interests and their treatment
2. Inheritance and Gifts: Treatment of inherited assets or significant gifts received before or during marriage
3. International Assets: Specific provisions for assets held overseas or international financial arrangements
4. Children's Provisions: Financial arrangements regarding existing or future children (note: care arrangements cannot be included)
5. Superannuation: Specific arrangements regarding superannuation interests
6. Life Insurance: Requirements for life insurance policies and beneficiary arrangements
7. Intellectual Property: Provisions regarding existing or future intellectual property rights
8. Family Loans: Treatment of existing or future loans from family members
9. Cultural or Religious Requirements: Specific provisions related to cultural or religious obligations
10. Review Mechanism: Provisions for periodic review or update of the agreement
1. Schedule A - Assets Schedule: Detailed list of all assets owned by each party at the time of the agreement
2. Schedule B - Liabilities Schedule: Detailed list of all liabilities of each party at the time of the agreement
3. Schedule C - Business Assets: Detailed information about business interests and their agreed values
4. Schedule D - Certificates of Independent Legal Advice: Signed certificates from each party's legal representative
5. Schedule E - Financial Disclosures: Detailed financial statements and documentation from both parties
6. Appendix 1 - Valuation Reports: Professional valuations of significant assets
7. Appendix 2 - Supporting Documents: Copies of relevant titles, account statements, and other supporting documentation
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