BFA BEFORE MARRIAGE

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At a Glance

Binding Financial Agreement Before Marriage

This precedent is designed for couples planning to marry, entering into an agreement under Section 90B of the Family Law Act 1975 (Cth). It allows the parties to specify how their property and financial resources will be handled in the event their marriage breaks down.

What This Agreement Covers

• Separate property and joint property schedules.
• Provisions for division of property after marriage.
• Obligations for spousal maintenance.
• Independent legal advice statements for each party.
• Notice and governing law clauses.
• Further assurance and execution provisions.

Why Use This Template?

• Enables couples and their advisers to set out clear financial arrangements before marriage.
• Helps manage expectations around property, financial resources and maintenance.
• Includes the formal structure required by Section 90B.
• Fully editable so it can be tailored to specific circumstances by legal practitioners.

Suitable For

This precedent is suitable for:
• Couples who are about to marry and want clarity over their financial arrangements.
• Family lawyers and solicitors drafting a Section 90B agreement.
• Parties who have significant property, inheritance or prior financial commitments and wish to protect their positions.

INCLUDES

 

  • Separate Property – Defines assets owned individually before marriage.
  • Joint Property – Outlines assets acquired together and how they are managed.
  • During the De Facto Relationship – Establishes financial obligations and responsibilities.
  • Separation – Covers procedures and conditions in case of a relationship breakdown.
  • Division of Property Upon Separation – Specifies how assets will be divided after separation.
  • Independent Legal Advice – Ensures both parties receive separate legal counsel before signing.
  • Taxes – Details tax implications related to asset division and financial obligations.
  • Claims Against the Estate – Addresses potential claims for provision out of a deceased party’s estate.
  • Notices – Specifies formal notification requirements under the agreement.
  • Governing Law & Jurisdiction – Defines the applicable legal framework governing the agreement.
  • Further Assurance – Ensures both parties will take necessary steps to uphold the agreement.
  • Execution Page – Provides designated space for signatures and legal acknowledgment.
  • Annexures (A, B, C) – Additional documentation supporting the agreement.
  • Statement Under Section 90G of the Family Law Act 1975 – Confirms compliance with legal requirements.
  • Separation Declaration Pursuant to Section 90D of the Family Law Act 1975 – Required declaration upon separation.

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).

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