Divorce & Family Lawyers Serving St Kilda & Elsternwick

If you are planning on getting married or are already married, you can enter into a binding financial agreement (BFA). This agreement can be entered into before marriage, after marriage and after divorce.

BFAs exclude the jurisdiction of the Family Court of Australia. They are contracts that set out the division of property and your superannuation interests. They can also provide for spousal maintenance. It is essential that at whatever stage you wish to make a BFA that you make full and frank disclosure of your assets and liabilities to avoid a subsequent challenge to the BFA on the grounds of non-disclosure.

As you are contracting out of the provisions of the Family Law Act 1975 when entering into a BFA, we have to take special care that you are well-advised as to how the BFA varies from what would otherwise be your statutory rights. It is a requirement of the Family Law Act 1975 that each party to the BFA have independent legal advice and that a legal practitioner provides a certificate confirming that you have received that advice independently and has had explained the advantages and disadvantages of the BFA to them.