FAQ Group: Property

Spouse maintenance is the responsibility a party might have to financially support (maintain) the other person after separation or divorce. It is different to child maintenance and child support. Generally, a party will only have to pay maintenance if the other party cannot support themselves and the first party has the capacity to contribute to … Continued

Superannuation forms part of the property pool. The law allows for superannuation to be divided or “split” between parties. Splitting superannuation between parties does not convert it to a cash asset and the usual rules relating to the release of superannuation apply (such as reaching preservation age or satisfying requirements for early release such as … Continued

You do not have to wait until you are divorced to ask the Court for orders about your property or spouse maintenance. However, once you are divorced you have 12 months from the date your divorce order becomes final to file an application for property settlement or spouse maintenance.This timeframe can be waived by the … Continued

Yes. Each party has an obligation to make full and frank disclosure of their financial position to the Court and the other party. It is an ongoing obligation.

If you cannot come to an agreement with your ex-partner, the Family Court or Federal Circuit Court has the power to make orders for property and financial settlements.  After filing an Application for property or financial Orders the Court will ordinarily refer the parties to Conciliation in an attempt to resolve their dispute. If no … Continued

Yes. It is important to note that a Court may set aside an Agreement if there has been fraud (such as non-disclosure of a material matter); an intention to defeat or reckless regard of the interest of a creditor; any duress; undue influence or unconscionable conduct (taking advantage of any weakness of a party); or … Continued

Yes. A BFA can deal with only some of the assets and financial resources of a marriage or de facto relationship. Parties often wish to quarantine a particular asset or resource (such as premarital property, business interests or family heirlooms) or deal with it in a particular way.  This is particularly common for parties entering … Continued

A prenuptial agreement or “prenup” is a Binding Financial Agreement between couples made before parties marry or enter into a de facto relationship. It generally covers financial matters but may include other issues as well (such as spousal maintenance). In Australia’s family law system, the term prenup is not normally used. These Agreements address how … Continued

BFAs must comply with strict legal guidelines as outlined in the Family Law Act (1975). They must be in writing. Each person must have received independent legal advice before signing the BFA about the advantages and disadvantages of entering into the Agreement and the effect of the Agreement on their rights. Each person must have signed … Continued

A Binding Financial Agreement (BFA) sometimes just referred to as a Financial Agreement  is a written agreement dealing with any of the property financial resources and/or maintenance of the parties to a marriage or de facto relationship. Approval from the Family Court is not required for Binding Financial Agreements to be binding. However, very specific … Continued