What do I need to know about creating enforceable agreements?

What do I need to know about creating enforceable agreements?

Section 90G of the Family Law Act 1975 (Cth) (the Act) outlines the circumstances when financial agreements are binding. The requirements are strict, and all parties must have been provided with independent legal advice about the effects of the agreement on the rights of the party, and the advantages and disadvantages of making the agreement. Additionally, the parties must be provided with a signed statement that independent legal advice had been sought, and that the agreement has not been terminated. After both parties have signed the agreement, both parties will be provided with either the original document, or a copy.

The Act provides the court a wide range of powers to make orders that the court deems necessary to enforce any agreements.