The Prenup Simple is a fundamental legal document designed for couples planning to marry in Australia who wish to establish clear financial arrangements before their marriage. It operates under the Family Law Act 1975 (Cth) as a Binding Financial Agreement, providing a framework for protecting individual assets and defining financial obligations. This document is particularly suitable for couples with straightforward financial circumstances who want basic protection of their pre-existing assets, future earnings, and inherited wealth. It includes essential elements such as asset division protocols, spousal maintenance provisions, and financial disclosure requirements, while maintaining compliance with Australian legal standards including the requirement for independent legal advice for both parties.
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1. Parties: Identification of both parties entering into the agreement, including full legal names, addresses, and occupations
2. Background: Context of the agreement, including the intended marriage, purpose of the agreement, and acknowledgment of entering into it freely
3. Definitions: Definitions of key terms used throughout the agreement, including property, financial resources, and other relevant terms
4. Independent Legal Advice: Declarations that both parties have received independent legal advice about the effect of the agreement on their rights
5. Separate Property: Details of assets and liabilities that each party will retain as their separate property
6. Division of Property: Agreement on how property will be divided in the event of separation or divorce
7. Spousal Maintenance: Terms regarding any ongoing financial support between parties post-separation
8. Disclosure Obligations: Acknowledgment of full financial disclosure by both parties
9. Termination: Circumstances under which the agreement can be terminated or will automatically terminate
10. Governing Law: Specification that the agreement is governed by Australian law and the Family Law Act 1975
11. Execution: Formal execution requirements including signatures and witness details
1. Future Property: Provisions for dealing with property acquired after marriage - include when parties expect significant future acquisitions
2. Business Interests: Specific provisions for existing or future business interests - include when either party owns or may establish a business
3. Inheritance: Treatment of expected inheritances - include when significant inheritances are anticipated
4. Children: Provisions regarding financial arrangements for existing or future children - include when relevant to financial planning
5. International Assets: Provisions for overseas property or investments - include when parties have international assets
6. Superannuation: Specific arrangements for superannuation interests - include when substantial super benefits exist
7. Debt Management: Provisions for handling existing or future debts - include when significant debts exist
8. Family Gifts: Treatment of gifts from family members - include when significant family wealth is involved
1. Schedule A - Financial Disclosure (Party 1): Detailed list of Party 1's assets, liabilities, income, and financial resources at time of agreement
2. Schedule B - Financial Disclosure (Party 2): Detailed list of Party 2's assets, liabilities, income, and financial resources at time of agreement
3. Schedule C - Specified Property List: Detailed inventory of specific items of property addressed in the agreement
4. Schedule D - Certificate of Independent Legal Advice (Party 1): Signed certificate from Party 1's lawyer confirming independent legal advice
5. Schedule E - Certificate of Independent Legal Advice (Party 2): Signed certificate from Party 2's lawyer confirming independent legal advice
6. Schedule F - Valuation Reports: Professional valuations of significant assets (if applicable)
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