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Rachel Weatherly, December 17 2018

What is a binding financial agreement?

Binding Financial Agreements (“referred to as a BFA”) are commonly known as “pre-nuptial agreements”, “post-nuptial agreements”, “cohabitation agreements” or “separation agreements”.

For de facto couples a BFA can be entered into:

For married couples a BFA can be entered into:

By entering into the agreement you are contracting out of the provisions of the Family Law Act 1975 that would otherwise determine the division of your asset pool in the event of the breakdown of your relationship. This covers property (including superannuation) and your entitlements to spousal maintenance.

What is covered in a BFA?

A BFA can only be binding if:

When can a BFA be set aside?

The Family Court is able to set aside a BFA in certain circumstances. These include if:

The above grounds are detailed in sections 90K and 90UM of the Family Law Act.

Written by

Rachel Weatherly

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