Can You Draft Your Own Prenuptial Agreement in Australia?
Technically, yes, you can draft your own prenuptial agreement, but doing so is like walking a legal tightrope without a safety net.
Under the Family Law Act, for a prenup to be legally binding and enforceable, it is mandatory for both parties to receive independent legal advice. This legal advice should cover how the agreement impacts each spouse’s rights and outline the advantages and disadvantages. Additionally, each party must obtain a signed statement from their legal advisor confirming that this advice was provided. These statements must then be exchanged with the other party.
While drafting a prenup yourself might save some money initially, you’ll still need to consult separate lawyers for independent advice to ensure its enforceability. Given the risks associated with an improperly drafted prenup, a DIY approach is generally not recommended. Investing in expert legal assistance can save you significant complications in the future.