Tag: independent legal advice

Binding Financial Agreements (BFAs) in Australia, commonly referred to as prenuptial or postnuptial agreements, are legal documents that detail the division of assets, liabilities, and other financial matters in the event of a relationship breakdown or divorce. While BFAs are designed to provide clarity and certainty, ensuring that financial arrangements are enforceable in court, they come at a significant cost when done properly. There are several factors that contribute to the high expenses of preparing a Binding Financial Agreement in...

Binding Child Support Agreement or Limited Child Support Agreement? When parents reach an agreement in relation to child support, there are two options available to formalise that agreement.  Those two options are: A Binding Child Support Agreement; and A Limited Child Support Agreement.  What is the Binding Child Support Agreement? A Binding Child Support Agreement is a contract between the parents which sets out the terms of the agreement they have reached in relation to the amount of child support...

Are binding financial agreements help to improve Relations between two Parties in Australia? The answer is yes! Well if they are done properly anyway.  It is a common misconception that Binding Financial Agreements  / Prenuptial Agreements are simple contracts between two people that must be followed when the agreement comes into effect. It is widely believed that all that is required for a written agreement to binding two parties to a relationship is that a lawyer witness the parties signature...