>> Understanding Prenuptial Agreement Australia and Binding Financial Agreements
Prenuptial Agreement Australia (otherwise known as Binding Financial Agreements “BFA”’s) can be drawn up prior to, during or after a relationship/marriage. BFA’s set out how all or any assets or liabilities will be divided in the event of a breakdown of your relationship.
This means that the assets and liabilities in the parties’ possession at the time of entering into the agreement can be accounted for and so can any accumulated during the relationship. This also includes Superannuation.
>> Prenuptial Agreement Australia And More Information Relating To Pre Nups & Binding Financial Agreements In Brisbane Can Be Found On Our Blog.
Spousal maintenance may also be considered in a BFA.
If you are contemplating marriage or entering into a de facto relationship it is a good idea to have a competent lawyer advise you on the pros and cons of doing so. It may be in your best interests not to enter into a BFA under certain circumstances.
People enter into BFA’s after a relationship to account for special terms that the Family Court may not make whilst apply for Consent Orders. In this instance BFA’s provide future security and certainty so that you can make special arrangements that the Court may not make for a number of reasons. This may be for reasons as simple as they may feel that such a decision would prevent the matter from returning to the Court to such reasons as the Court not believing such a division is fair.
>> Some Helpful Advice If You Are Considering Entering Into A Binding Financial Agreements.
We will often have clients come and talk to us about BFA’s. Many have done some research on the internet and have formed the view that they are not worth the paper they are written on. If they are done properly they will hold up to any scrutiny and will remain as binding as a Court Order.