Binding Financial Agreement

A Binding Financial Agreement (“BFA”) outlines the division of assets, liabilities and financial resources of the parties in the event of a relationship breakdown.

A BFA may be made:

• before entering into a de facto relationship or marriage (otherwise known as a pre-nup);
• during a de facto relationship or marriage;
• on the breakdown of a relationship.

There are certain requirements which must be established to ensure that a BFA is binding, including:

• the BFA must be in writing and signed by the parties;
• each party must obtain independent legal advice prior to signing;
• there is no allegation that a party was coerced or signed the BFA under duress.

Our team at The Small Business Lawyer can assist you by drafting a Binding Financial Agreement for you or provide you with advice.