Binding Financial Agreement
Part of any good plan is a contingency and and exit strategy. Unfortunately not every relationship lasts as long as we might like, and if you have shared assets things can get messy.
A Binding Financial Agreement (BFA), or pre-nuptial agreement, is a document or series of documents that govern your property interests in the event of a separation during a marriage or a de facto relationship. The Family Law Act 1975 (Cth) allows parties in a marriage or de facto relationship to enter into a BFA to manage their finances during the course of their relationship, and to resolve disputes in the case of a relationship breakdown. A BFA can be entered into before, during or after a relationship. If made after marriage, the document must be made within twelve months of an order of divorce.