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Pre-nuptial Agreement

Peter Magee

In November last year, the government introduced the Family Law Amendment (Financial Agreements and other measures) Bill 2015 which intends to amend the Family Law Act.

Some of the consequences of the bill relate to Financial Agreements (which, thanks to American television, are colloquially known as "prenuptial agreements"). In actual fact, Financial Agreements can be entered into prior to a … Read more

The Pre-Nup that can end a happy marriage

by Michelle McDermott on October 21, 2014

Michelle McDermott

An article recently appeared in the BBC News Magazine which picqued my curiosity with the title "The pre-nuptial agreement that can end a happy marriage".  Now, in my experience in both Australian and in the UK, the drafting of a Financial Agreement prior to commencing either a de facto relationship or entering into marriage can certainly be a confronting exercise for the parties as they … 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