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Protect Your Assets with Binding Financial Agreements
Expert BFA drafting, review, and negotiation for peace of mind
A binding financial agreement (BFA) is a legally enforceable agreement between parties that determines how property, assets, and financial resources will be divided if a relationship ends. Under the Family Law Act 1975 (Cth), financial agreements are recognized and enforced by Australian courts, providing certainty and finality about financial outcomes for both parties.
Financial agreements can be entered into before a relationship begins (section 90B agreements—commonly known as prenuptial agreements), during a relationship (section 90C agreements), at the time of separation (section 90CMA agreements), or after divorce (section 90D agreements). They offer numerous advantages over relying on property settlement through the court system, including privacy, control over outcomes, cost savings, and certainty about financial arrangements.
At Surf Coast Family Law, we specialize in drafting, reviewing, negotiating, and advising on binding financial agreements. Whether you're planning ahead, addressing financial matters in a current relationship, managing separation, or finalizing arrangements after divorce, we ensure your agreement is legally sound, fair, and enforceable.
Different agreements apply depending on your relationship stage and circumstances.
Prenuptial or de facto agreements signed before a relationship begins. These protect assets brought into the relationship and clarify financial intentions from the outset.
Learn More →Signed while a relationship is ongoing. These clarify property ownership, asset division, and financial arrangements if the relationship ends in future.
Learn More →Financial agreements signed when parties separate. These settle property division and financial matters at the time of separation, providing closure and finality.
Learn More →Signed after divorce is finalized. These address property division and other financial matters that may not have been fully settled in the original divorce proceedings.
Learn More →Financial agreements offer significant advantages for protecting your interests and clarifying financial arrangements.
Clearly define which assets belong to which party, protecting assets you bring into a relationship or accumulate separately from being divided in separation.
Avoid uncertainty about property division in separation. Both parties know exactly how assets will be divided, providing peace of mind and reducing future disputes.
Keep your financial matters completely private. Unlike court proceedings, financial agreements don't become public record, protecting your privacy and family dignity.
Avoid expensive and lengthy court proceedings. Financial agreements are negotiated and finalized much faster and at substantially lower legal and personal cost.
Essential for blended families. Protect children's inheritance, clarify asset ownership, and address complex family structures with clear financial arrangements.
If you own a business or significant income-generating assets, protect them from division in separation with clear financial agreements defining business ownership.
For a binding financial agreement to be enforceable, certain requirements must be met. Here are the key legal requirements.
Both parties must have received independent legal advice from a separate lawyer before signing. This protects the agreement's validity and ensures both parties understand their rights and obligations.
Both parties must fully disclose all assets, liabilities, income, and property. Non-disclosure or misrepresentation can result in the agreement being set aside by courts.
The agreement must be signed by both parties, usually in the presence of independent lawyers. Signatures must be witnessed and the agreement executed according to legal requirements.
The agreement must be entered into freely, without pressure, threats, or manipulation. Both parties must willingly agree to the terms without duress or undue influence.
Both parties must genuinely understand what they're agreeing to, including the implications for their property, financial interests, and relationship. Misunderstanding can invalidate the agreement.
While courts give weight to agreements parties have negotiated, extremely unfair or unjust terms may be challenged. The agreement should reflect a reasonable balance of interests.
Understanding how agreements can be invalidated helps protect your interests.
If either party didn't receive independent legal advice, or received advice from the same lawyer, courts may set aside the agreement regardless of other factors.
If a party failed to disclose significant assets, income, or liabilities, or deliberately misrepresented their financial position, the agreement can be set aside.
If either party can prove they were pressured, threatened, or manipulated into signing, courts will invalidate the agreement as it wasn't freely entered.
Improper execution, missing signatures, witnesses, or failure to follow legal formalities can render an agreement unenforceable despite its substantive terms.
If one party took unconscionable advantage of the other (extreme vulnerability, unsophistication, or desperation), courts may set aside the agreement even if properly executed.
While less common, if circumstances have changed dramatically since the agreement was signed (major illness, business failure, significant income loss), courts may consider modification.
A prenup is a type of binding financial agreement entered into before marriage or a de facto relationship begins. All prenups are financial agreements, but not all financial agreements are prenups. Financial agreements can be signed at any stage of a relationship or after separation.
Yes, with mutual consent. Both parties can agree to amend or terminate a financial agreement at any time. Without mutual agreement, changing an executed agreement requires court approval, which is rarely granted.
De facto relationships have similar property rights to marriages under Australian law. A financial agreement is just as important for de facto couples as married couples. It clarifies property ownership and division in case the relationship ends.
Financial agreements typically address property and asset division. Parenting arrangements and child support are separate matters governed by different sections of the Family Law Act and generally cannot be finalised by agreement alone without court involvement.
Costs vary depending on complexity, asset disclosure requirements, and negotiation time. Simple agreements might cost $2,000-$4,000 per party. Complex matters with significant assets could cost $5,000-$10,000+. We provide detailed cost estimates upfront.
Let's discuss whether a financial agreement is right for your situation. Book a free consultation with our experienced BFA lawyers to explore your options and understand your rights.
Or call us:
Financial agreements often relate to other family law matters. Explore our other specialised services.
Expert guidance on asset division through court-approved settlements or negotiated agreements.
View Service →Complete legal support through the divorce and separation process including all financial matters.
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