Secure Your Financial Future with a Binding Financial Agreement for De Facto Couples
Ensure financial security and clarity during your de facto relationship with a professionally drafted Binding Financial Agreement (BFA). This essential legal document helps couples, legal practitioners, and financial advisors establish clear terms for asset division, financial responsibilities, and future security
Why Legal Practitioners, Couples, and Financial Advisors Need a Binding Financial Agreement for De Facto Couples
A Binding Financial Agreement for De Facto Couples (also known as a separation agreement) is essential for couples who wish to define their financial arrangements during de facto relationship. Unlike general contracts, BFAs are legally enforceable documents that protect individual assets and outline financial responsibilities in the event of separation.
With our professionally drafted Binding Financial Agreement for Married but Separated Couples, legal practitioners can confidently assist their clients, while couples can:
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Ensure compliance with the Family Law Act 1975 and legal requirements for BFAs
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Clearly define asset ownership and financial contributions before marriage
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Establish financial obligations, including property, debt management, and partner support
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Minimise disputes over property division in case of separation
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Provide financial security and peace of mind for both parties
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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What’s included in your Binding Financial Agreement
Defacto 90UC
A Binding Financial Agreement Defacto (sometimes known as a “pr=e-nup”) is a private agreement that couples are able to enter into to deal with financial and property matters.
The Family Law Act 1975 provides for parties to a marriage or defacto relationship to enter into a binding legal agreement about the financial arrangements should their marriage or defacto relationship break down. … You can make a financial agreement before, during or after a marriage or defacto relationship. the event of a relationship breakdown.
A Binding Financial Agreement (BFA) in the context of a de facto relationship is a legal document that outlines the financial arrangements between two people who are or were in a de facto relationship. A de facto relationship is one where two people live together on a genuine domestic basis, but are not legally married to each other. BFAs can be made before, during, or after a de facto relationship and are governed by the Family Law Act 1975 in Australia
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Table of Contents – A structured outline of the agreement for easy navigation.
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Separate Property – Defines assets owned individually before and during the de facto relationship.
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Joint Property – Outlines assets acquired together and their management.
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During the De Facto Relationship – Establishes financial obligations and responsibilities.
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Separation – Covers procedures and conditions in case of a relationship breakdown.
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Division of Property – Specifies how assets and liabilities will be divided post-separation.
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Independent Legal Advice – Ensures both parties receive separate legal counsel before signing.
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Tax Considerations – Details tax implications related to asset division.
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Claims Against Estate – Addresses provisions for claims made against a deceased party’s estate.
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Notices – Defines communication procedures between parties regarding the agreement.
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Governing Law & Jurisdiction – Specifies the applicable legal framework governing the agreement.
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Further Assurance – Ensures both parties take necessary steps to uphold the agreement.
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Execution Page – Contains designated spaces for official signatures and legal acknowledgment.
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Annexure A – Assets and Liabilities – Supplementary documentation detailing financial disclosures.
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Annexure B – Additional supporting documentation as required.
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Annexure C – Further relevant annexures related to the agreement.
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Statement Under Section 90G of the Family Law Act 1975 – Confirms compliance with legal requirements.
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Separation Declaration Pursuant to Section 90DA of the Family Law Act 1975 – Required declaration upon separation.
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