A prenuptial agreement, or "prenup," is a legally binding financial contract that enables couples in Western Australia to determine their own terms for dividing shared assets in the event of a relationship breakdown. This agreement allows you to opt out of default property division laws.

To ensure the agreement is legally enforceable, it must meet certain legal requirements, including proper preparation and execution.

Not at all. Even if you don’t consider yourself "wealthy," a prenuptial agreement can still protect your assets and shield you from taking on your partner’s debts. It can also help avoid the financial and emotional strain of dividing assets after a breakup.

While creating a prenup involves legal fees, as both partners need independent legal advice, some professional services, such as Simple Separation, offer fixed-fee options to make the process more affordable.

When discussing a prenup, it’s best to bring it up early—well before marriage or moving in together. Although a postnuptial agreement can be created later, early discussions help clarify financial positions and goals.

• Choose the Right Time: Find a calm, distraction-free moment to start the conversation. Avoid bringing it up during arguments or stressful times.

• Be Honest and Transparent: Share your reasons for wanting the agreement and emphasize your shared financial goals.

• Reassure About Fairness: Explain that both partners will receive independent legal advice to ensure the agreement is fair and understood.

• Seek Professional Help: Mention services like Simple Separation, which offer fixed-price options for prenuptial or postnuptial agreements.

A prenuptial agreement in Western Australia typically covers:

• Debts: Allocation of responsibility for existing and future debts.

• Investments: Division of individually or jointly held investments.

• Inheritances: Protection of any inheritances received before or during the relationship.

• Spousal Maintenance: Agreements regarding financial support after separation.

• Property Division: How assets and property will be divided if the relationship ends.

No. A Financial Agreement (prenup or postnup) can’t contain terms regarding child custody or support matters. These matters need to be handled separately.

What can be included is matters relating to the financial aspects of a relationship, such as investments, debts, inheritances, property division, and spousal maintenance.

Prenups and postnups are essentially the same thing—a Financial Agreement—but they are drawn up at different stages of a relationship. A prenup is created prior to marriage or cohabitation, and a postnup is created after marriage/cohabitation has commenced. As they are both ‘Financial Agreements’, they cover the same territory in terms of what’s included in the agreement, and the same key provisions apply.

Yes. This is called a postnup, and is also a Financial Agreement. The same financial aspects of a relationship are covered in both a prenup and a postnup, those being investments, debts, inheritances, property division, and spousal maintenance.

A prenup can save you the pain of negotiating distribution of your assets at the time of a breakup, when your relationship with your partner may be strained.

Many people also prefer to have a prenup set up, as it creates clarity around assets and finances during the relationship—both partners know where they stand and some of the uncomfortable feelings surrounding finances can be alleviated.

To start with:

Think about what assets you want to protect with a prenup.

Talk to your partner about your desire for a prenup, and see how they feel about it. Discuss your financial circumstances, and how you picture your financial future.

If you both agree to a prenup, there are two avenues you can take. These are:

Find your own lawyers (you each need individual legal advice when creating a Financial Agreement). Remember, legal fees can quickly add up, especially if multiple legal meetings, emails and phone calls take place.

Or

Work with a professional separation service, like Simple Separation, who handle your prenup/postnup for a fixed fee. We will assist you through the process of getting your documentation prepared, and will match each of you with legal assistance from our trusted pool of lawyers.

Once you have defined what assets will and will not be considered in the asset pool when parties separate, the Financial Agreement is then created, and each party must sign the agreement before a witness.

You can create a prenup prior to marriage or entering into a de facto relationship, or after you are already married/de facto (this is termed a postnup, but is essentially the same type of Financial Agreement as a prenup).

A Financial Agreement, or prenup/postnup, protects your assets in the event of a divorce by clearly defining the ownership and division of your property, financial assets, and debts acquired before and during your marriage. It can ensure that both yours and your partner's individual assets remain your own, specifies how joint assets are to be divided, and can outline spousal support arrangements, if you wish those to be included.

By having these terms agreed upon in advance of a separation, a prenup provides clarity and security for both you and your partner, and reduces potential conflicts and legal disputes.

A sunset clause is a clause in your Financial Agreement (prenup or postnup) that stipulates that the agreement is only valid until a certain date. At that point, if you wish to continue the prenup/postnup, you can either present it to your respective lawyers again, with a request to extend the date, or change the prenup so that it continues on an indefinite basis.

Alternatively, you may wish to change terms in your agreement, in which case again, you would revise the existing prenup, with independent legal advice for each partner.