Katherine Stavrou

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221 appearances 1 recordings 1 series first heard Feb 2022 last heard Feb 2022

Katherine Stavrou’s voice in public audio — every appearance, attributed to the second.

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Australian Finance Podcast · Prenups & de facto relationships | Family Law Barrister · 24 Feb 2022 podcast

which is the colloquial term is prenup.

It can be entered into during, which is a nuptial agreement, if you want to call it that, or you can enter into it after, which is a post-nup.

So it falls under, I guess you could say, the umbrella of a binding financial agreement.

But if you're doing it after,

the marriage, particularly if you're married, the binding financial agreement, it's important to know, must be made within 12 months of an order for divorce because there are limitation periods.

So when parties are separated and they say, look, let's enter into a binding financial agreement, but they're already being divorced, they've got that 12-month period in which they need to finalise that agreement.

Oh, look, there are so many out there, but I mean...

Yeah, I'd probably say ensuring that you've understood the document properly is really important and that you understand what the implications are of signing a buying financial agreement because it's very different to, say, a consent order, which is another option of formalising and finalising your separation, which is signed and sealed by the court.

This document is not going through the court process.

It's simply signed by each of you individually, independently with your solicitors.

So it's outside of the court process.

And it's also important to note that if you're doing a prenuptial agreement or any binding financial agreement before,

or even during, it needs to continually be updated.

You can't just forget about it, especially if you've got a 10 or 15 year marriage and you've got two or three children together, situations change.

And if you've entered into agreement early on and then your asset pool has increased, it's hard to say that that has a lot of weight given that it was done early on.

So what we tend to say is that you continue to update them when situations change.

maybe every three every four years okay so if things like having kids that would indicate that maybe you needed to update this agreement especially like i mentioned earlier how the arrangements you know if you separate the children's arrangements are important because it can adjust make an adjustment in one party's favor if they've got more care of the children or the child

Yeah.

So it's good if you've entered into one and you've got yourself a financial backing or you've got your own little asset pool in the background and you've entered into your second or third relationship.

It's really important to do that.

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