Binding Financial Agreement Sutherland Shire
A Binding Financial Agreement (BFA) is a private contract between separating couples that sets out how their finances and property will be divided. At Wallen Family Law, we prepare and review BFAs for clients across the Sutherland Shire.
What is a Binding Financial Agreement?
A Binding Financial Agreement can be made:
Before a marriage or de facto relationship (“pre-nup”),
During a relationship,
After separation.
It covers how property, superannuation, and spousal maintenance will be managed.
Keeps matters private (not filed in Court),
Provides flexibility for couples who agree on their own terms,
Can prevent lengthy disputes if prepared correctly.
Benefits of a Binding Financial Agreement
Risks of a Binding Financial Agreement
Because Binding Financial Agreements are not Court-approved, they must strictly follow the provisions of the Family Law Act.
Each party must obtain independent legal advice, and even then, poorly drafted agreements may be challenged or set aside.
When to use a Binding Financial Agreement
A Binding Financial Agreement may suit couples who:
Want to resolve financial matters without Court involvement,
Seek privacy,
Want to clearly set out spousal maintenance obligations.
Wallen Family Law offers fixed-fee Binding Financial Agreements for Sutherland Shire clients. Contact us today for advice.
You may also find these links helpful:
Binding Financial Agreements (BFAs) can help couples protect assets and avoid disputes about Property Settlements, Spousal Maintenance, or Superannuation Splitting.
We offer Fixed Fee Financial Agreements and assist eligible clients under Legal Aid.
You may also find our guide helpful — How to Protect Your Assets During Divorce in NSW