Do You Need a Binding Financial Agreement?
A Binding Financial Agreement (BFA) gives couples a way to agree on how assets and financial responsibilities will be handled if or when the relationship ends.
BFAs are recognised under the Family Law Act 1975 and are available to married couples, de facto partners, and even those planning to enter into a relationship.
Why a Binding Financial Agreement?
There are several reasons why a couple might want to put a BFA in place:
- To protect assets brought into the relationship, such as property or a business
- To safeguard inheritances or future family wealth
- To reduce conflict in the event of separation
- To avoid court proceedings, which can be time-consuming and expensive
For example, someone entering a second marriage might want to ensure their children from a previous relationship are protected financially.
Get in touch with us today
Call us now and one of our friendly team will help you book an initial consultation with one of our expert family lawyers.
Financial peace of mind starts with the right agreement. Safeguard your future—get expert advice and a binding financial agreement you can rely on.
Hayley Cunningham – Accredited Specialist (Family Law)
When Can You Make a BFA?
A BFA can be created at different stages of a relationship:
Before the relationship starts – often called a “prenup” or “prenuptial agreement”
During the relationship – to record ongoing financial arrangements
After separation or divorce – to settle the division of assets without going to court
Each version can be just as enforceable, provided all legal requirements are met.
A Binding Financial Agreement isn’t just for the wealthy. It can be useful for any couple wanting to plan ahead and avoid future disputes. When done properly, it offers clarity, security, and peace of mind.
Initial Consultation
Your first step is a confidential meeting with a family lawyer to understand your rights, obligations, and options. We assess your situation and outline the best path forward for your financial agreement.
Negotiating
Whether you’re already largely in agreement or still working out the details, our experienced family lawyers help you negotiate the terms of your agreement—whether before, during, or after a relationship—ensuring your financial interests are protected.
Drafting
We carefully draft your Binding Financial Agreement in line with legal requirements, making sure it reflects your intentions and is clear, thorough, and enforceable under Australian family law.
Finalising
Each party must receive independent legal advice before signing. We ensure all legal formalities are met so the agreement is legally binding and provides long-term certainty and protection.
Reach out to us to schedule your initial consultation.
Contact UsFrequently Asked Questions about Binding Financial Agreements
What is a Binding Financial Agreement (BFA)?
A Binding Financial Agreement is a legal contract between two people in a relationship that sets out how their assets, debts, and financial matters will be handled if the relationship ends. It can also deal with ongoing financial responsibilities during the relationship.
Why can enter into a BFA?
BFAs are available to:
- Couples planning to marry or live together (often called “prenups”)
- Couples already in a de facto or married relationship
- Couples who have separated or divorced and want to sort out their finances without going to court
What can a BFA cover?
A BFA can deal with:
- Division of property and superannuation
- Responsibility for debts
- Spousal maintenance
- Protection of inheritances or family wealth
It can be tailored to suit your specific situation.
Do both people need a lawyer?
Yes. For the agreement to be legally binding:
- Both parties must receive independent legal advice
- Each lawyer must provide a signed statement confirming they gave this advice
- The agreement must be in writing and signed by both people
Without this, the agreement may not be enforceable.
Can a BFA be challenged in court?
In some cases, yes. A court may set aside a BFA if:
- It was signed under pressure or unfair circumstances
- One person didn’t fully disclose their financial situation
- Major changes occurred after the agreement (e.g. the birth of a child) that make the agreement unreasonable
That’s why it’s important to have the agreement carefully prepared with professional advice.
Is a BFA the same as a Consent Order?
No. A BFA is a private agreement between two people. A Consent Order is approved by the Family Court. Both can be used to settle financial matters, but they have different legal processes and requirements.
We can help you decide which option is better for your situation.
Why would someone want a BFA?
Some common reasons include:
- Wanting to protect assets brought into the relationship
- Avoiding future disputes or court proceedings
- Securing family-owned property or businesses
- Providing certainty in case of separation
It’s not just for high-wealth individuals—BFAs can be useful for many couples.
Still have more questions about binding financial agreements?
What You Can Expect from Us as Your Family Lawyers in Brisbane
We understand that this can be a stressful time, especially as you seek to protect property that you feel is rightfully yours. Whether you need to make arrangements to divide property or you need help untangling the additional complexities inherent in a financial settlement after separation, our team is here to provide you with access to many years of combined experience and a focus on an acceptable outcome.
Using our services, you can expect:
Clear, honest insights and advice from the moment you choose to engage our services. We waste no time in aiding our clients by laying out the facts and the various options you have for proceeding.
Robust representation before the courts when necessary. Though putting settlements in the hands of the court will tend to make orders within a predictable range of outcomes, having solicitors that understand the procedures and know how to argue in your favour is essential.
An advocate in your corner. During a divorce or separation, it can feel as though you’re in this alone. We work to ensure that you know you’re not; we are here to advocate for your best interests.
Let Our Team of Expert Family Lawyers Help with Your Matter
If you are involved in a family law dispute and concerned about your rights and entitlements, we can help.
See What our Clients Have to Say About Our Family Law Services
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