Considering separating from a partner is never easy—and dividing assets and property can be one of the most complex and emotionally charged parts of the process. Whether you’ve already agreed on how to divide your finances or you’re still working through the details, it’s crucial to legally finalise your property arrangements or settlement to avoid future disputes. Understanding the differences between Financial Agreement vs Consent Orders is essential to making informed decisions and ensuring long-term peace of mind.
At James Noble Law, we guide individuals and couples through this critical step with clarity and confidence. Two common legal avenues are available: Financial Agreements and Consent Orders. But which is the right option for your circumstances? Below, we break down how each works, what the differences are, and the pros and cons of both pathways.
Table of Contents
Option 1: Financial Agreements
What is it?
A Financial Agreement (also known as a Binding Financial Agreement or BFA) is a legally binding contract between you and your former partner that outlines how your property and finances will be divided.
When can it be used?
- During a relationship
- After separation or divorce
Pros:
- Privacy – Avoids public court records and proceedings.
- Flexibility – You can tailor the agreement to your specific needs and preferences.
- Control – No court involvement means you both maintain decision-making power.
Cons:
- Strict legal requirements – Each party must receive independent legal advice.
- Greater risk of being challenged – May be set aside if not drafted properly or if full disclosure isn’t made.
- No court oversight – There’s no automatic review for fairness.
Option 2: Consent Orders
What is it?
Consent Orders are written agreements that are formally approved by the Family Court and made into enforceable court orders without needing to go to a hearing.
When can it be used?
After separation or divorce, when both parties agree on how to divide their property.
Pros:
- Court-backed – Provides a higher level of legal enforceability.
- Fairness test – The court reviews and approves the agreement to ensure it’s just and equitable.
- More robust – Harder to overturn than Financial Agreements.
- No court appearance required – Everything is handled in writing.
Cons:
- Less private – Filed with the court, though still not a public hearing.
- Less flexible – The court may not approve arrangements it deems unfair, even with mutual agreement.
Which Option Should You Choose?
Choosing between a Financial Agreement and Consent Orders depends on your specific situation, including the complexity of your assets, your relationship with your former partner, and your long-term priorities.
If privacy and flexibility are most important to you—and both parties are on the same page—a Financial Agreement might be right.
If you prefer court endorsement and stronger legal protection, Consent Orders offer more security and are often the preferred method.
Finalising your property settlement is an essential step in moving forward with certainty after separation. Whether you opt for a Financial Agreement or Consent Orders, having the right legal advice can make all the difference.
At James Noble Law, our experienced family lawyers will help you navigate the process with care and precision. We’ll ensure your agreement meets legal requirements, protects your interests, and brings you peace of mind.
Need Help with Financial Agreement vs Consent Orders ?
For more information about Property Settlement, contact the Brisbane family lawyers team at James Noble Law today. We offer a FREE, no-obligation 20-minute consultation to help you understand your options and make informed decisions.
Schedule an appointment with one of our qualified and experienced family lawyers in Brisbane and take the first step toward securing your financial future.
📞 Call us on 07 2112 3947 or visit jamesnoblelaw.com.au to book your consultation today.
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