A Binding Financial Agreement (BFA) is a written agreement between a married or de facto couple. A Binding Financial Agreement is a legally binding document that outlines how property and financial assets will be divided if the parties were to separate.
A BFA can be made at any time before (commonly referred to as a pre-nuptial agreement), during, or at the end of the relationship.
Our family law team at Conditsis Lawyers can help guide you through the process based on your individual circumstances. A fair, well thought out and drafted agreement can result in an orderly financial settlement, saving tens of thousands of dollars in legal costs and the emotional cost of a legal dispute.
A Binding Financial Agreement considers a range of issues relating to the finances of both parties. This may include:
- Distribution of property.
- Debts and other finance matters; and
- Spousal maintenance.
Did you know that a Binding Financial Agreement is just one of several ways that you can formalise a property settlement. You may also formalise a property settlement with an Application for Consent Orders.
How can we help?
Our Family Law Team have extensive experience in negotiating and drafting Binding Financial Agreements, tailored for the individual needs of our clients. It is imperative that you receive legal advice before entering into a Binding Financial Agreement and our team of family law lawyers are more than happy to assist.
Call our Newcastle office on 02 4058 5844 or email us to arrange a private and confidential consultation with one of our family lawyers today.