The construction industry is booming in Gold Coast and Tweed Heads with both residential and commercial properties emerging at an increasing rate. However, this rapid expansion often leads to various construction disputes. These disputes arise when there is a failure to comply with contractual agreements, such as defects in construction work or project delays. It is crucial to address these issues effectively to ensure minimal disruption and allow you to return to work promptly.
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What is a Financial Agreement? A Financial Agreement is a legally binding document made under the Family Law Act 1975 that sets out how a couple’s property, finances, and spousal maintenance will be dealt with in the event of a relationship breakdown. Types of Financial Agreements: Under the Act, different sections apply depending on the stage of the relationship: Before marriage - Section 90B - A pre-nuptial agreement made before a couple marries. During marriage - Section 90C - Made during the marriage (often updated or made after a 90B agreement). Before de facto relationship - Section 90UB – Made before a de facto relationship begins. During de facto relationship - Section 90UC - Made during a de facto relationship. What Can a Financial Agreement Cover? Division of assets and liabilities Superannuation splitting Spousal maintenance Future financial arrangements Ownership of property and debts Why Have a Financial Agreement? Clarity & Certainty - Protect your assets and agree on financial terms upfront to avoid disputes later. Avoid Litigation - A valid agreement can exclude the Family Court from intervening in financial matters after separation. Flexibility - Tailor the agreement to suit your specific needs and circumstances. Peace of Mind - Plan for the future with confidence, knowing that your financial affairs are sorted. Key Requirements: Both parties must receive independent legal advice Agreement must be in writing and signed by both parties Complies with strict legal requirements under the Family Law Act 1975 Financial Agreements are complex documents. It’s essential to seek advice from a qualified family lawyer to ensure your agreement is valid and enforceable. Fixed fee service available. For more information, please contact us through 1300 245 299 or via email at info@cjmlawyers.com.au . Disclaimer: This article is for general understanding and should not be used as a substitute for professional legal advice. Any reliance on the information is strictly at the user's risk, and there is no intention to create a lawyer-client relationship from this general communication.
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