Binding Financial Agreements - Prenuptial Agreements
A binding financial agreement (also known as a prenuptial agreement or prenup) is an important contract. It can help both parties protect their assets after a breakup. Saving time, stress and money. The parties can enter into a binding financial agreement before, during or after a marriage or de-facto relationship. It’s also important that you consult an experienced family lawyer. Please contact us to find out how we can help.
Frequently Asked Questions about Binding Financial Agreements or Prenuptial Agreements (prenups)
A binding financial agreement (BFA) is a contract. You and your partner can make a BFA at any stage of your relationship:
• Before getting married (also known as a prenuptial agreement or a prenup)
• During your de facto relationship
• During your marriage (also known as a post-nuptial agreement)
• After separating or divorcing
You’re not legally required to have a binding financial agreement. But it can be very helpful.
Advantages of getting a binding financial agreement can include:
- Bypass the family court. This can save a lot of time, money and stress. Essentially, a BFA allows the parties to decide how they want their assets divided, not the family court.
- Both parties can make their own decisions, rather than relying on a judge.
- Both parties can reduce conflict and hopefully maintain a positive relationship. In the future, you’ll probably need to make important decisions together. So it helps if you’re on good terms.
Breaching a BFA is a breach of contract.
If there is a breach, we suggest you ask the party to comply. If that fails, please contact us for advice.
Most binding financial agreements cost about $3000 to $5000.
If you’re experiencing financial difficulty, please contact us to discuss our fee options.