Reviewing a Binding Financial Agreeement

December 21, 2022

The following case study is an example of one of the many kinds of Family Law matters we deal with at Nardi Lawyers.

Our client engaged us as he had agreed to a Binding Financial Agreement with his ex-wife and wanted to have it reviewed and certified by a lawyer.

At our first meeting, our client provided us with a copy of the Binding Financial Agreement and asked us to certify it, as he agreed to everything contained within it.

Upon review of the Binding Financial Agreement, there were many clauses and parts missing from the Agreement which were critical for the client’s protection, and to ensure that they received what they had agreed to. It was our advice that our client should not enter into the Agreement in its current form.

At first, our client was reluctant to make any amendments to the Agreement, as they wanted to have everything completed and executed as soon as possible. This is completely understandable.

We advised our client of the risks of entering into an Agreement, which was not drafted to the standard we deem appropriate, and we advised on how this could impact our client.

Our client agreed to seek amendments to the Agreement, and as such, we began correspondence with the other party’s solicitor to negotiate the amendment of the Agreement to include additional clauses.

We successfully negotiated the terms of the Agreement so that our client was better protected.

The Agreement was then signed, certified and executed without any issues.

It is very common that individuals approach us with an already agreed Binding Financial Agreement which they want “signed off by a lawyer”. Quite often in these circumstances, we review these Agreements, and they require some amendment.

Ultimately, the final decision to enter into an Agreement, for better or worse, is the client’s. We will always give accurate and honest advice on whether the Agreement is suitable for you.

If you find yourself in a similar situation, we highly recommend you call Nardi Lawyers, so we can review your matter and give you the honest advice that you deserve.