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Is a Binding Financial Agreement right for me?

A Binding Financial Agreement QLD (sometimes called a pre-nuptial agreement or BFA) can be entered into prior to or during a relationship. They can also be used after a relationship has ended to share your property and assets, and also deal with your debts, as an alternative to an Application for Consent Orders.  Pre- Nuptial […]

Is a Binding Financial Agreement right for me?

Is a Binding Financial Agreement right for me?

A Binding Financial Agreement QLD (sometimes called a pre-nuptial agreement or BFA) can be entered into prior to or during a relationship. They can also be used after a relationship has ended to share your property and assets, and also deal with your debts, as an alternative to an Application for Consent Orders

Pre- Nuptial Binding Financial Agreements can be used to avoid property proceedings in Court in the event that a relationship subsequently breaks down. It is therefore imperative that the agreement complies with the strict requirements as set out in the Family Law Act to ensure that the agreement is binding as intended. 

A Binding Financial Agreement can only be prepared if each party agrees to enter the agreement. A fundamental requirement for a BFA to be binding is that each party is required to obtain independent legal advice from a solicitor prior to signing the agreement. 

The various formal requirements for a Binding Financial Agreement to be effective and binding need to be strictly complied with. Any failure to comply with the requirements can very easily lead to a BFA being set aside. It is of critical importance to ensure that the Binding Financial Agreement is properly prepared, and the necessary advice is provided. There can be no shortcuts, and appointing an experienced family law solicitor is essential to prepare a BFA.

If you are considering whether a Binding Financial Agreement Qld may be right for you or if you have any questions about family law matters, call one of our Family Law team on 1800 217 217

Prenuptial Or Binding Financial Agreements