Protect Your Assets with a Binding Financial Agreement for Married Couples
Ensure financial security and clarity before entering into marriage with a professionally drafted Binding Financial Agreement (BFA) for Married Couples. This essential legal document helps couples, legal practitioners, and financial advisors establish clear terms for asset division and financial responsibilities.
Why Legal Practitioners, Couples, and Financial Advisors Need a Binding Financial Agreement for Married Couples
A Binding Financial Agreement for Married Couples (also known as a postnuptial agreement) is essential for couples who wish to define their financial arrangements during marriage. 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 Couples, legal practitioners can confidently assist their clients, while couples can:
Ensure compliance with the Family Law Act 1975 and legal requirements for BFAs
Clearly define asset ownership and financial contributions before marriage
Establish financial obligations, including property, debt management, and spousal support
Minimise disputes over property division in case of separation
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 BFA for Married Couples
In marriage, a Binding Financial Agreement (BFA) can serve as a strategic tool to outline financial arrangements, protect individual assets, and prevent disputes.
A Binding Financial Agreement (BFA) for married couples is a legal document that outlines the financial arrangements between two individuals who are legally married or planning to get married. BFAs can be made before, during, or after the marriage and are governed by the Family Law Act 1975 in Australia. The primary purpose of a BFA is to provide clarity and certainty regarding the division of assets, liabilities, and financial resources in the event of a separation or divorce.
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Separate Property – Defines assets owned individually before and during the marriage.
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Joint Property – Outlines assets acquired together and their management.
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During the Marriage – Establishes financial obligations and responsibilities.
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Separation – Covers procedures and conditions in case of marital 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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Taxes – Details tax implications related to asset division and financial obligations.
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Provision Out of the Estate – Addresses potential claims against a deceased party’s estate.
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Notices – Specifies formal notification requirements under the agreement.
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Governing Law & Jurisdiction – Defines the 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 – Provides designated space for signatures and legal acknowledgment.
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Annexures (A, B, C) – Additional supporting documentation.
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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.
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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