Cohabitation Agreements for De Facto Relationships
The Family Law act 1975 now determines the property & maintenance obligations of de facto partners after 1 March 2009.
Couple can enter into a Binding Financial Agreement before or during a relationship or after a relationship has ended.
A financial agreement survives the death of a party to the agreement and becomes binding upon the party’s legal personal representative. Thus an agreement can protect assets for the benefit of a party’s children and heirs upon their death .
Before signing an agreement each party must be provided with independent advice from a legal practitioner who must sign a certificate to that effect.
Generally, one party’s solicitor prepares the agreement and provides a certificate of advice then the other party gets advice and a certificate from another solicitor.