Binding Financial Agreements
A Binding Financial Agreement (BFA), is more commonly known as a prenuptial agreement or ‘pre-nup’. A BFA can determine before or during your marriage or de facto relationship, how your assets will be allocated should your marriage or de facto relationship break down. The intention is to prevent a financial dispute between you and your spouse from ending up in Court.
BFA or Prenuptial agreements are determined by the Family Law Act 1975 (Cth).
If you wish to make a prenuptial agreement we can ensure that it is binding and legal in accordance with the law. However, there are many issues that need to be discussed before an agreement is drawn up in order to ensure that it meets your requirements and to ensure that it is binding.
Binding financial agreements can also be made at the breakdown of a marriage or de fact relationship. However, in our experience, it is best to avoid BFA’s or termination agreements in this case and to prepare consent orders approved by the Court instead.
If you have been in a previous unsuccessful relationship and you have children from that relationship and you have significant individual wealth a BFA or prenuptial agreement can be very useful in protecting your assets for your family.
At Court Legal we can help you with prenuptial agreements.
Call 1300 885 289 to Make a First Free Consultation with Rossana at a Time and Location Convenient to You.