Binding Financial Agreements

Binding Financial Agreements (BFA) can commonly be known as a pre-nuptial agreement. This is a legal contract made according to the law. It is between two people in a relationship which formalises each individuals’ division of assets and liabilities in the event of a divorce or separation. A Binding Financial agreement can be created at anytime during the relationship. Once a binding financial agreement is in place, the binding parties cannot change their mind.

Why would I get a Binding Financial Agreement?

A BFA legally secures your assets, that overrides martial laws regarding division of property, savings and superannuation. A BFA is a useful tool to provide yourself with extra financial security. It is important to consider a Binding Financial Agreement if you have:

  • more money, property or assets than your partner in the beginning of the relationship

  • are entitled to an inheritance 

  • operate a business

  • you have children that need to be financially protected

How do I get a Binding Financial Agreement?

To get started on creating a BFA contact our expert legal team at CG Legal Group.

If you are getting married, we suggest preparing your Binding Financial Agreement several months in advance. This is so we have enough time to draft, revise and finalise the agreement.

What do I have to disclose in a Binding Financial Agreement?

When creating a BFA, you are required to disclose the following:

  • Any property worth more than $5,000 including cars, jewellery and art

  • Real Estate

  • Cash

  • Funds in Bank Accounts

  • Shares

  • Mortgages

  • Personal Loans

  • Credit Card Debt

  • University/HECS Debt

Our professional solicitors at CG Legal Group can create a Binding Financial Agreement to ensure your assets are protected.