Protect Your Assets with a Binding Financial Agreement for Divorce
Going through a divorce can be emotionally and financially challenging. A Binding Financial Agreement (BFA) for Divorce helps couples reach a legally binding agreement regarding the division of assets, liabilities, and financial responsibilities, ensuring a smooth and clear separation. This document is crucial for legal practitioners, couples, and financial advisors who need to establish financial security, prevent disputes, and outline clear post-divorce financial arrangements.
Why Legal Practitioners, Couples, and Financial Advisors Need a Binding Financial Agreement Divorce
Divorce involves complex financial considerations, making it essential to have a clear and legally binding agreement. A Binding Financial Agreement (BFA) for Divorce provides legal certainty by outlining asset division, financial obligations, and post-separation arrangements. This legally binding agreement ensures legal practitioners, couples, and financial advisors have a clear framework for financial separation, helping to prevent disputes and ensure a fair resolution for both parties
COMPREHENSIVE COVERAGE
Ensuring you have everything you need in one place.
FREE WITH EVERY PURCHASE
Our legal drafting booklet to guide you through the necessary steps in editing your documents.
EASY CUSTOMISATION
Each document is designed to be easily editable, allowing you to tailor the agreements to your specific needs without hassle.
LEGALLY SOUND
All our documents are crafted by legal professionals and adhere to Australian legal standards, giving you confidence in their validity.
SUITABILITY
AUSTRALIA
What’s included in your BFA for Divorced Couples
BFA 90D
An Agreement after Divorce is intended to avoid the need for Court proceedings. It is a versatile document as it can be entered into after divorce in order to record an agreement as to the division of assets between the parties.
A Binding Financial Agreement (BFA) in the context of a divorce is a legal document that outlines the financial arrangements between two individuals who are divorcing.
This agreement specifies how assets, liabilities, and financial resources will be divided after the divorce is finalised. BFAs are governed by the Family Law Act 1975 in Australia and are designed to provide clarity, certainty, and finality to financial matters, avoiding the need for court intervention.
This agreement includes:
A Binding Financial Agreement (BFA) is a legally enforceable document that requires careful drafting to ensure compliance with Australian family law. To be legally binding, both parties must receive independent legal advice from a solicitor before signing, as required by the Family Law Act 1975 (Cth).
A Binding Financial Agreement for Divorce is for couples who are legally ending their marriage and wish to establish financial security and legal clarity regarding the division of assets, liabilities, and ongoing financial responsibilities.
- Assets and Liabilities – Full disclosure of owned and shared assets, debts, and financial responsibilities.
- Payment Obligations – Specifies financial contributions and any agreed payments between parties.
- Transfer of Real Property – Details conditions for property transfers between spouses.
- Sale of Real Property – Outlines the process for selling jointly owned properties.
- Moveable Possessions – Covers division of personal assets, including vehicles, jewelry, and household items.
- Superannuation – Defines how retirement funds and superannuation entitlements are treated.
- General Provisions – Includes overarching terms governing the agreement.
- Post-Separation Support & Maintenance – Determines ongoing financial support (if applicable).
- Independent Legal Advice – Ensures both parties obtain separate legal counsel before signing.
- Tax Considerations – Details any tax obligations arising from asset division.
- Claims Against Estate – Addresses provisions for claims made against a deceased party’s estate.
- Notices – Defines communication procedures between parties regarding the agreement.
- Governing Law & Jurisdiction – Specifies applicable legal frameworks governing the agreement.
- Further Assurance – Ensures both parties fulfill the agreed terms and obligations.
- Execution Page – Contains designated spaces for official signatures and legal acknowledgment.
- Annexure A – Assets and Liabilities – Supplementary documentation detailing financial disclosures.
- Statement Under Section 90G of the Family Law Act 1975 – Confirms compliance with legal requirements.
- Separation Declaration Pursuant to Section 90DA of the Family Law Act 1975 – Required declaration upon separation. Statement Under Section 90G of the Family Law Act 1975 – Confirms compliance with legal requirements.
- Separation Declaration Pursuant to Section 90DA of the Family Law Act 1975 – Required declaration upon separation.
Download the Template
Gain instant access to our professionally crafted template.
Fill in the Details
Complete your legal template with your specific details.
Review and Customise
Easily enter your details into the template, save your progress, and make edits whenever needed to ensure it perfectly fits your situation.
PREVIEW SAMPLE
ABOUT US
Established since 2015, Precedents Online leads the industry with a diverse collection of over 300 legal templates. Our legal documents, meticulously crafted by practicing Solicitors and renowned legal authors, provide you with the precise solutions you seek. Step into a world where legal paperwork is made easy .
Precedents Online, helping you draft like a pro! Receive a free handbook with any purchase of our customisable legal document templates. Start drafting with confidence using our expertly crafted precedents with our bonus guidebook.
CHOOSE YOUR TEMPLATE
Download Now!
- Legal Template
- Legal Drafting Handbook
Document Review
- Click here for a quote from our independent law firm to discuss your requirements after template purchase.