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Binding Financial Agreements

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A Binding Financial Agreement or BFA (sometimes referred to as a prenuptial or postnuptial agreement), is a private, legally binding written agreement that sets out how financial matters will be dealt with between married or de facto couples upon separation (including same sex couples).

Binding Financial Agreements can deal with the division of property, assets and maintenance.

Binding Financial Agreements can be entered into:

  • Before a marriage or de facto relationship commences.
  • During a marriage or de facto relationship.
  • After separation.


To be legally binding, each party must obtain independent legal advice before signing the agreement. This advice must be provided by different lawyers, and not by lawyers from the same firm.

Binding Financial Agreements provide certainty on separation and avoid the need for costly and time-consuming Family Court proceedings.

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This section provides more information on binding financial agreements.

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If you already have an existing Binding Financial Agreement, you cannot vary the terms unless you formally terminate the earlier agreement and enter into a new one. As with the original agreement, termination also requires each party to obtain independent legal advice.

The cost of preparing a Binding Financial Agreement depends on your individual circumstances and the complexity of the financial arrangements involved. Some agreements are relatively straightforward, while others are more complex. There is no such thing as a “standard” or simple BFA.

If one party has limited financial resources, you should also consider the cost of both parties obtaining independent legal advice. While Binding Financial Agreements are typically more cost-effective than Family Court litigation, in some cases an application for consent orders may be a more affordable option.

Our Perth family lawyers are experienced in drafting, reviewing, and advising on Binding Financial Agreements. We take the time to understand your objectives and provide clear, detailed advice to help you make informed decisions about your financial future.

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