Prenup Definition: What Is Prenuptial Law And What Is Spousal Maintenance or Support
What is a prenup, and what is spousal support? The answer is at once simple and complex. The central prenuptial agreement meaning is “the establishment of the future rights and responsibilities of two people who are either planning to get married or who have just recently married.” It is a binding financial agreement made in accordance with the Family Law Act 1975. As such, it defines the amount of spousal maintenance or support. Australia residents are entitled to upon divorce. This support often takes the form of ongoing maintenance payments.
How Can My Lawyers Help?
Few people get married expecting to divorce, so working through matters of prenuptial law is often an uncomfortable process. The prenup should not, however, be feared: People and lives change, so having a solid prenuptial agreement should be part for the course when you get married. For just a modest prenuptial agreement fee, you can save yourself from having to pay unfair lifelong spousal maintenance or support in the event of a divorce. Conversely, you can set up spousal support should you prefer your spouse be entitled to a certain portion of your assets upon separation or divorce.
The family law experts at My Lawyers can protect you from additional stress should you require a separation or divorce at some point in the future. We can prepare a Binding Financial Agreement or define prenuptial agreement terms, provide prenup forms and work with you to create a fair, balanced prenuptial agreement that works for both you and your partner. In the event that you do divorce or separate, a fair Binding Financial Agreement or prenup agreement will help you and your partner to reduce hostility not waste your money in court and stay on good terms.
Don’t Leave Spousal Maintenance In Australia to Chance
Divorces can happen extremely rapidly. If it is revealed that a partner has been committing infidelity for an extended period of time, for instance, a marriage that appeared secure may end virtually overnight. If you have not adequately prepared for this possibility, you may find yourself beholden to your ex-partner for a large sum of money. Conversely, if you are the lower-earning partner, you may miss out on crucial support for yourself and your family. Additionally, assets (such as the family home) may be lost during the division process unless they are safeguarded and clear terms are agreed between you and your partner.
My Lawyers Have Extensive Prenuptial Law Experience
What is spousal maintenance? We’ll help you decide. When you work with the experienced family lawyers at My Lawyers, you can create the terms and conditions in a Binding Financial Agreement that’s right for you. We can advise you on all areas of marriage, property settlements and divorce law, such as:
- How to protect the family business should you divorce;
- How to protect future inheritances;
- How to protect assets you own from a previous marriage as you enter a new one;
- How to handle property issues, e.g. if one party is moving into the other party’s property or if the ratio of property ownership is imbalanced (one party owns far more property than the other) when the marriage begins;
- Your Furniture and other assets.
...And much more.
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