Posts tagged as:

Binding Financial Agreement

How to Quarantine an Inheritance from Divorce

by Peter Magee on September 19, 2016

Zoe Durand

In an article published on 22 May 2016 by Noah Whittaker the question of “how to quarantine an inheritance from divorce” is explored.

Whittaker reports that: “now divorce is common, many couples do not get around to getting married, and often those who do divorce and remarry have children from both relationships. To complicate matters, there may well be more … Read more

Kerry White

Repartnering at any age can be exciting and fraught with concerns. High amongst the concerns are doubts as to what will happen financially in the event the relationship flounders and the parties separate. This can be an even more potent source of worry for those repartnering in their 50’s and 60’s.

This is because at this stage of life most … Read more

Peter Magee

How far ahead of a wedding should couples enter into a Financial Agreement in order for it to be binding? The recent Federal Circuit Court of Australia case of Parkes & Parkes [2014] FCCA 102 is right on point to answer this question.

In Parkes, the wife argued that the Financial Agreement she signed three days before her wedding day … Read more

Peter Magee

Recently a significant amount of publicity has surrounded the James Packer and Erica Baxter separation.

Several newspapers have covered the separation, including The Brisbane Times in their article called “For Richer, Not Poorer: Erica Baxter Debuts on BRW Young Rich List”. In the article published on 18 September 2013, Daisy Dumas and Andrew Heathcote that Ms Baxter’s “six year Read more

Peter Magee

A father of two from Sydney has recently been awarded $800,000 in damages after he sued his former family lawyers for negligence, claiming a “pre-nup” they created was useless in shielding his assets from the subsequent divorce.

So how do you make sure that your ‘pre-nup’ (or binding financial agreement, also known as a “BFA”) is worth the paper it’s … Read more

Peter Magee

On 31 December 2012 news broke that Grant Hackett was suing his lawyer as a result of a faulty Binding Financial Agreement. This Agreement was entered into prior to his marriage to Candice Alley. This sort of Agreement is known in America as a “Pre-nup”. Although the Agreement entered into by Grant Hackett was one prior to marriage, Binding Financial … Read more

Peter Magee

In an article dated 16 October 2012 Rick Morton discusses the fact that Russell Crowe and Danielle Spencer now recently separated, signed a Pre-nuptial Agreement in 2003. The article was published in the Australian and is called: “Russell Crowe, Danielle Spencer signed a Pre-nuptial Agreement in 2003”.

The article reports that Russell Crowe and Danielle Spencer have now separated and … Read more

Peter Magee

The husband tried to argue that he was “emotionally or psychologically dependent” on the younger lady when they discussed marriage. He claimed he was manipulated into agreeing to give her $3.25 million in a pre-nuptial agreement.

In particular, he argued that the quality and quantity of their sexual relationship declined following marriage and that he came to believe that she … Read more

Time to consider a prenup?

by Peter Magee on May 8, 2012

Peter Magee

Many people have heard prenups talked about on American legal television shows. Binding Financial Agreements (which many know as prenups) are commonly used in family law matters in Australia to deal with a number of situation. People choose to use Binding Financial Agreements if:
• They are planning to enter a de facto relationship or to get married;
• They … Read more