What is a Binding Financial Agreement ("BFA")?
A BFA is a written agreement that can be entered into by parties to a marriage or de facto relationship either before,
during or after their relationship. A BFA can set out how the assets of the parties are to be divided in the event
of separation, and whether spousal maintenance will be payable.
To be legally binding, a BFA must comply with certain provisions of the Family Law Act.
One of those provisions requires that both parties receive independent legal advice.
Should I do a BFA?
Some couples prefer to have the certainty of how their assets will be dealt with in the event their relationship ends.
Our family lawyers can advise you whether a BFA is appropriate for you.
Can a BFA be terminated?
A BFA can be terminated if both parties agree.
A BFA can be set aside by a court in certain circumstances. If you need advice about whether a BFA you have entered into could be set aside, our family lawyers can assist.
Speak to a lawyer about preparing a Binding Financial Agreement.
You can get the BFA process started with our online toolView Options
In the event the relationship falls apart, separation of assets can be very stressful. Getting a prenuptial agreement eliminates the long discussions of division of assets and financials. Discuss your concern with an expert family lawyer.Try our online tool and follow the prompts