Binding Financial Agreements

At Kara Legal, we help clients navigate the complexities of Binding Financial Agreements (BFAs) with clear, practical, and legally sound advice. Whether you're entering a new relationship, getting married, or separating from a partner, a professionally drafted BFA can offer certainty and peace of mind. 

A Binding Financial Agreement is a private contract between couples that outlines how property, assets, liabilities, and financial resources will be divided in the event of separation or divorce. BFAs are available to: 

• Couples entering a de facto relationship.
• People intending to marry. 
• Married or de facto couples during the relationship.
• Couples who are separating or have already separated.

Entering a new relationship is exciting, but it’s also the right time to consider how your financial future will be managed. A binding financial agreement can help safeguard personal or family assets, investments, superannuation, and business interests.

• Drafting BFAs tailored to your personal and financial circumstances. 
• Reviewing agreements prepared by your partner’s lawyer.
• Advising on enforceability and risks.
• Ensuring the agreement meets the strict requirements of the Family Law Act.
• Providing independent legal advice and certification.
   

When a relationship breaks down, financial uncertainty can make the process even more stressful. A Binding Financial Agreement after separation allows couples to avoid lengthy litigation by clearly setting out how assets and debts will be divided.