Protect your assets with a legally binding financial agreement - drafted carefully, explained clearly, priced fairly.
A binding financial agreement (BFA) - sometimes called a prenuptial agreement or "prenup" - is a legal contract that specifies how assets, liabilities, and financial resources will be divided if a relationship breaks down. BFAs are available to both married couples and de facto partners, and can be made at any point: before, during, or after a relationship.
Under the Family Law Act 1975 (Cth), a BFA removes the Family Court's jurisdiction to make property orders in relation to the matters covered by the agreement. This means that, if validly executed, the agreement governs the financial outcome of a separation - providing certainty and privacy that court proceedings cannot offer.
Unlike consent orders, a BFA does not require court approval. This makes it a faster and more private option for couples who want to document their financial arrangements without involving the courts. However, strict legal requirements must be met for a BFA to be enforceable - and this is where our expertise becomes critical.
BFAs can be entered into at different stages of a relationship. The right type depends on your circumstances.
Entered into before a marriage or de facto relationship begins. These agreements are ideal for individuals with significant assets, business interests, inheritances, or children from a previous relationship who wish to protect their financial position from the outset.
Made while a marriage or de facto relationship is ongoing. Couples may seek a mid-relationship BFA after a change in financial circumstances - such as receiving an inheritance, starting a business, or acquiring significant new assets - or simply to document an agreement reached at any point.
A post-separation BFA (sometimes called a separation agreement) is made after a relationship has ended, to finalise property and financial arrangements without going to court. It is an alternative to consent orders and can provide a quicker, more private resolution when both parties are in agreement.
A BFA that does not meet the strict requirements of the Family Law Act will not be legally binding. The following conditions must be satisfied.
Each party must receive independent legal advice from a separate lawyer - before signing - about the effect of the agreement on their rights and whether it is to their advantage. This is a non-negotiable legal requirement, not merely a formality.
Both lawyers must sign a certificate confirming that independent legal advice was given. These certificates must be attached to the agreement. Without them, the BFA is not a binding financial agreement under the Act.
The BFA must be in writing and signed by both parties. There is no prescribed form, but the document must clearly identify the parties, the relationship, and the financial arrangements being agreed upon.
A court may set aside a BFA if it was obtained by duress, fraud, unconscionable conduct, or undue influence. Both parties must enter the agreement freely and with a genuine understanding of its terms and consequences.
We offer a full suite of services relating to binding financial agreements - whether you are starting from scratch or need advice on an agreement your partner has already had drafted.
We prepare a carefully drafted binding financial agreement tailored to your specific circumstances and asset profile. We take the time to understand what you want to achieve - and we draft to reflect it clearly and precisely.
If your partner's lawyer has drafted a BFA and you need independent legal advice before signing, we can advise you promptly. We will explain the agreement's effect on your rights, identify any concerns, and provide the required certificate of advice.
Circumstances change. If you have an existing BFA and want to understand whether it remains fit for purpose - or whether it may be vulnerable to being set aside - we can review it and advise you on your current position.
An existing BFA can be varied or terminated by a subsequent written agreement, signed by both parties and accompanied by fresh certificates of independent legal advice. We advise on whether variation is appropriate and prepare the necessary documentation.
We draft post-separation BFAs that finalise financial arrangements without court involvement. This is often the most efficient and private way to resolve property matters when both parties have reached agreement on the broad terms.
Essentially, yes. In Australia, a pre-nuptial agreement is a binding financial agreement made before marriage under the Family Law Act. The Act also provides for equivalent agreements for de facto couples. The term "prenup" is used informally - the legally correct term in Australia is "binding financial agreement."
Yes. A court can set aside a BFA in certain circumstances - for example, if it was obtained by fraud, duress, or unconscionable conduct; if there has been a material change in circumstances (particularly relating to the care of children); or if the agreement contains a material defect, such as the absence of proper legal advice certificates. This is why the quality of drafting and the integrity of the advice process are critically important.
Yes - this is a strict legal requirement. Each party must obtain independent legal advice from a separate, independent lawyer before signing. One lawyer cannot act for both parties, and a certificate of advice must be signed by each lawyer and attached to the agreement. Without this, the BFA will not be legally binding.
We charge a fixed fee for BFA services, quoted upfront before we commence any work. The cost varies depending on the complexity of the matter - for example, whether business interests, trusts, or superannuation are involved, and whether we are drafting from scratch or providing independent legal advice on a partner's draft. Contact us for a no-obligation quote.
A straightforward BFA can typically be completed within two to three weeks, depending on the responsiveness of both parties and their lawyers. More complex matters - or those involving negotiation over terms - may take longer. We will give you a realistic timeline estimate at the outset, and we work efficiently to avoid unnecessary delays.