Financial Agreement Lawyers in New Zealand
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Understanding Financial Agreement and when to get legal help
The Family practice area in New Zealand focuses on legal matters related to family relationships. One important part of this area is the Financial Agreement specialisation. This involves creating agreements about money and property when families are going through changes, such as separation or divorce.
What is a Financial Agreement?
A Financial Agreement is a legal document that outlines how a couple will divide their assets and responsibilities. This can include things like:
- Money in bank accounts
- Property, such as houses or cars
- Debts, like loans or credit cards
Why are Financial Agreements Important?
Financial Agreements are important because they help to avoid disputes later on. For example, if a couple decides to separate, having a clear agreement can make the process smoother and less stressful. It can also save time and money by reducing the need for court involvement.
How Does it Work?
In New Zealand, a Financial Agreement can be made before or during a relationship, or even after a separation. Here’s how it typically works:
- Consultation: Both parties meet with a lawyer to discuss their financial situation and what they want to include in the agreement.
- Drafting the Agreement: The lawyer will help draft the agreement, ensuring it meets legal requirements.
- Review: Each party should have their own lawyer to review the agreement to ensure it is fair and understood.
- Signing: Once both parties are happy, they sign the agreement, making it legally binding.
Examples of Financial Agreements
Here are a couple of examples to illustrate how Financial Agreements work:
- Before Marriage: A couple may decide to create a Financial Agreement before getting married to protect their individual assets.
- After Separation: After a couple separates, they might create an agreement to decide who keeps the family home and how to share any savings.
How to choose the right Financial Agreement lawyer
- Look for a lawyer with experience in family law and financial agreements.
- Check client reviews and testimonials for insights on their service.
- Ensure they offer a clear fee structure to avoid surprises.
- Schedule a consultation to discuss your specific needs.
Verified Family Law firms
These law firms are experienced in helping Kiwis navigate Financial Agreement in Family matters.
Common questions about Financial Agreement:
What is a financial agreement?
A financial agreement is a legal document outlining how assets and liabilities will be managed, often used in relationships or separations.
When do I need a financial agreement?
You may need a financial agreement when entering a relationship, during a separation, or to clarify financial responsibilities.
How can a lawyer help with a financial agreement?
A lawyer can help draft, review, and negotiate the terms of your financial agreement to ensure it meets legal standards.
What happens if a financial agreement is not followed?
If a financial agreement is breached, you may need to seek legal action to enforce the terms or resolve disputes.
Can financial agreements be changed?
Yes, financial agreements can be amended if both parties agree and the changes are documented legally.