Prenuptial Agreements

What is a Prenuptial Agreement?

In Australia, these are legally known as “Binding Financial Agreements” and can be made:

  • Before marriage (prenuptial)
  • During marriage (postnuptial)
  • After separation or divorce

Do You Need One?

This is a personal decision. Consider a prenuptial agreement if you:

  • Have substantial assets
  • Own a business
  • Expect a future inheritance
  • Have children from previous relationships
  • Want clarity about financial matters
  • Have family trusts or complex financial arrangements

Note: We cannot advise whether you need one - this is a personal legal decision.

For a binding financial agreement to be valid:

  • Both parties must get independent legal advice
  • Both lawyers must sign certificates of advice
  • Agreement must be signed by both parties
  • Must be properly drafted by a legal professional
  • Full financial disclosure is required
  • Cannot be made under duress

What Can Be Included

A prenuptial agreement typically covers:

  • Division of property
  • Financial support arrangements
  • Asset protection
  • Business interests
  • Inheritance matters
  • Superannuation
  • Future earnings
  • Debt responsibilities

Timing

  • Should be discussed well before marriage
  • Must be finalised before wedding day
  • Allows time for proper legal advice
  • Prevents last-minute pressure
  • Enables thorough consideration

Getting a Prenuptial Agreement

  • Consult a family lawyer
  • Understand your rights
  • Get professional guidance
  • Discuss your specific situation

Step 2: Full Disclosure

  • List all assets and debts
  • Provide financial documentation
  • Be honest and thorough
  • Include future expectations

Step 3: Negotiation

  • Discuss terms with your partner
  • Consider both parties’ needs
  • Be fair and reasonable
  • Allow time for consideration
  • Both parties need separate lawyers
  • Must get certificates of advice
  • Understand all implications
  • Ask questions if unsure

Cost Considerations

  • Legal fees for both parties
  • Document preparation costs
  • Independent advice fees
  • Possible registration fees
  • Future review costs

Important Notes

  • Cannot be arranged through our office
  • Requires specialist legal advice
  • Must be completed before marriage
  • Can be challenged if improperly prepared
  • Should be reviewed periodically

Contact:

  • Law Society of Tasmania
  • Family law specialists
  • Legal Aid Tasmania
  • Community legal centres

Common Questions

Q: Can we write our own agreement?

A: No, it must be prepared by a legal professional to be binding.

Q: Do both parties need lawyers?

A: Yes, independent legal advice is mandatory.

Q: Can it be changed later?

A: Yes, but both parties must agree and get legal advice again.

Our Role

The Tasmanian Marriage Office:

  • Cannot provide legal advice
  • Doesn’t arrange prenuptial agreements
  • Can refer you to legal professionals
  • Focuses on marriage services only

Note: This information is general in nature and not legal advice. For specific advice about prenuptial agreements, please consult a qualified legal professional.

Further Resources

  • Family Court of Australia
  • Federal Circuit Court
  • Legal Aid Tasmania
  • Law Society of Tasmania