Post Nuptial Agreements are utilized in Australia when married couples wish to formally document their financial arrangements and asset distribution during their marriage or in the event of separation. These agreements must comply with the Family Law Act 1975 and subsequent amendments, particularly the Financial Agreements provisions in Part VIIIA. A Post Nuptial Agreement can be created at any time after marriage and typically includes comprehensive details about existing assets, liabilities, financial resources, and future property division. The agreement requires both parties to receive independent legal advice, make full financial disclosure, and follow strict execution requirements to be legally binding. It's particularly relevant for couples who have acquired significant assets during marriage, received inheritances, started businesses, or experienced substantial changes in their financial circumstances after marriage.
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1. Parties: Identification and details of both parties to the agreement
2. Background: Recitals including marriage date, reason for agreement, and acknowledgment of intention
3. Definitions: Definitions of key terms used throughout the agreement
4. Independent Legal Advice: Declarations regarding receipt of independent legal advice by both parties
5. Financial Disclosure: Acknowledgment of full and frank financial disclosure between parties
6. Existing Property Rights: Current ownership of assets and liabilities of both parties
7. Future Property Division: Agreement on how future acquired property will be treated
8. Separation of Property: Terms for maintaining separate ownership of specified assets
9. Superannuation Interests: Treatment of existing and future superannuation entitlements
10. Mutual Release: Release of financial claims against each other except as provided in the agreement
11. Termination Events: Circumstances under which the agreement may be terminated
12. Governing Law: Specification that Australian law governs the agreement
13. Severability: Provision for survival of remaining clauses if any clause is found invalid
14. Execution Requirements: Formal requirements for signing and witnessing the agreement
1. International Assets: Include when either party has significant assets outside Australia
2. Business Interests: Include when either party owns business interests requiring special treatment
3. Inheritance Provisions: Include when protecting future inherited assets is a consideration
4. Children's Provisions: Include when there are specific financial arrangements for existing children
5. Spousal Maintenance: Include when ongoing financial support arrangements are agreed
6. Family Trust Interests: Include when either party has interests in family trusts
7. Intellectual Property Rights: Include when either party has significant IP assets
8. Foreign Law Compliance: Include when agreement needs to be enforceable in other jurisdictions
1. Schedule A - Wife's Assets and Liabilities: Detailed list of all assets and liabilities brought to the marriage by the wife
2. Schedule B - Husband's Assets and Liabilities: Detailed list of all assets and liabilities brought to the marriage by the husband
3. Schedule C - Joint Assets and Liabilities: Detailed list of all jointly owned assets and liabilities
4. Schedule D - Business Valuations: Professional valuations of any business interests
5. Schedule E - Superannuation Interests: Details of both parties' superannuation interests
6. Appendix 1 - Certificates of Independent Legal Advice: Signed certificates from each party's legal representative
7. Appendix 2 - Financial Disclosure Statements: Detailed financial disclosure statements from both parties
8. Appendix 3 - Supporting Documentation: Copies of relevant documents such as property valuations, bank statements, etc.
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