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19 Torrens St Braddon
ACT 1612 || GPO Box 1989
Canberra ACT 2601
Telephone +61 2 6246 3788
Facsimilie +61 2 6248 0639
MR 2909
13 October 2009
Couples Urged to Ensure Pre-Nups are
Legally Binding
The Law Council has cautioned couples to ensure any financial
agreements they enter into before, during or after marriage are legally
binding.
Law Council President John Corcoran said, “DIY kits,
currently being
promoted, may initially appear cost-effective but could come
at a great
cost down the track, because you must have legal advice for an
agreement to be enforceable.”
“People should not be fooled into thinking that agreements they have
drafted themselves can be legally enforced if they have been entered
into without the appropriate legal advice.
They are very important
documents and the need to obtain independent legal advice is there for
very good reasons.”
Mr Corcoran said, by
entering into a financial agreement, couples
give
up their rights to have a court determine disputes about the
financial
matters covered in the agreement. A binding agreement can only be set
aside in very limited circumstances.
“When financial agreements or pre-nuptial agreements operate
smoothly, they are an effective means of allowing couples to avoid or
settle a dispute without having to enter the courtroom. This is beneficial
to both the individuals involved and the court system,” Mr Corcoran said.
“Independent legal advice is critical so that each person understands the
commitments they are making, the consequences of the agreement, and
the effect of the agreement on their legal rights,” he said.
“People should always seek legal advice before entering into an
agreement which will ultimately take away their right to access the court
system for working out financial disputes if their
relationship breaks
down,” Mr Corcoran concluded.
Media Contact:
Elenore Eriksson, Director Public Affairs
P. 02 6246 3716 || M. 0419 269 855
The Law Council of Australia exists to represent the legal
profession at the national level, to speak on behalf of its constituent
bodies on national issues, and to promote the
administration of
justice, access to justice and general improvement of the
law.
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