Binding Financial Agreements (BFA) are written agreements that set out how your assets will be divided in the event of separation. It covers both de facto relationships and marriages. They are often referred to as prenuptial agreements.
A BFA can be entered into before, during or after a de-facto relationship or marriage. They may cover:
BFA’s can be a useful tool to:
For financial agreements to be binding:
In some circumstances, BFA’s can be set aside, for example:
Unfortunately, the law in respect to the setting aside BFA’s is unsettled. Therefore, it is important that any BFA is well-drafted by a lawyer experienced in family law, to limit the possibility of it being set aside.
At Meillon & Bright, our family lawyers will work with you to advise on, and draft binding financial agreements to protect your rights and financial situation.
In addition, we can also review and provide advice to clients who have already had a financial agreement drafted and presented to them for consideration by their former spouse or partner.
Contacting an experienced family lawyer is a crucial step in securing your future.
Whether you're only just considering separation or in the early stages of separating from your partner, or whether you're needing assistance with:
our team of experienced lawyers are here to help guide you through the family law system.