Protect your assets and avoid costly legal battles with a Binding Financial Agreement. Bennett Carroll Solicitors offers expert legal advice across Australia.
Binding Financial Agreements (BFAs) are a powerful tool to protect your assets and plan for financial security—both during a relationship and in the event of a separation. Also known as prenups or cohabitation agreements, BFAs clearly outline how assets, property, and financial obligations will be divided.
In Australia, many couples use BFAs to avoid costly disputes through the Family Court. Whether you’re entering a relationship, already living together, or separating, a BFA can give you clarity, control, and peace of mind.
In this article, we explain what Binding Financial Agreements are, how they work, their key benefits, and the common pitfalls to avoid.
What is a Binding Financial Agreement?
A Binding Financial Agreement (BFA) in Australia (commonly referred to as a prenup, cohabitation agreement, or separation financial agreement) is a legal contract that sets out how a couple’s assets, liabilities, and financial resources will be divided in the event of a separation, divorce, or relationship breakdown.
Under the Family Law Act 1975 (Cth), BFAs are legally enforceable provided they meet strict legal requirements. They are available to:
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Married couples (before, during, or after marriage)
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De facto partners (including same-sex couples)
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Couples planning to live together
BFAs help protect wealth, prevent disputes, and provide peace of mind—whether you’re entering a new relationship or separating from a partner.
Why You Should Consider a Binding Financial Agreement
Top Benefits of a BFA:
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Asset Protection: Safeguard your business, investments, property, or inheritance.
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Certainty and Clarity: Avoid future misunderstandings and costly litigation.
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Tailored Agreements: Customise your financial arrangements to suit your personal circumstances.
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Cost-Effective: Avoid the lengthy and expensive process of the Federal Circuit and Family Court.
Our 3-Step Process for a Secure BFA
- Initial Strategy Call: Meet with our head of family law, Samantha to identify your specific risks and assets.
- Custom Drafting: We build a tailored agreement that actually holds up in the Australian courts.
- Independent Advice & Signing: We guide you through the mandatory legal requirements for a “watertight” finish.
How to Create a Binding Financial Agreement in Australia
To be legally binding and enforceable in Australia, certain conditions must be met when creating a BFA:
- Voluntary Agreement: Both parties must enter the agreement voluntarily without any coercion or duress.
- Independent Legal Advice: Each party must seek independent legal advice from their own lawyer before signing the agreement. This ensures that both individuals fully comprehend the terms and implications of the contract.
- Full and Frank Disclosure: Both parties are required to disclose their financial circumstances honestly and completely. Concealing assets or providing inaccurate information may render the agreement void.
- Written Form: The agreement must be in writing, signed by both parties, and dated.
Failing to follow these steps can result in your BFA being overturned by the court—so it’s critical to engage experienced legal professionals.
Benefits of Binding Financial Agreements
- Asset Protection: One of the primary reasons for creating a BFA is to safeguard individual assets, investments, and inheritances in case of a relationship breakdown. This can be particularly important for individuals who have substantial wealth or unique family heirlooms they wish to protect.
- Clarity and Certainty: BFAs provide clarity regarding financial arrangements and can help avoid misunderstandings or disagreements down the road. This certainty can reduce stress and potential conflict during an already emotionally challenging time.
- Financial Autonomy: By establishing financial expectations in advance, both partners can retain a degree of financial autonomy while respecting each other’s rights and responsibilities.
- Time and Cost Savings: In the event of a separation or divorce, having a comprehensive BFA can streamline the legal process, potentially reducing the time and costs associated with resolving financial disputes.
Who Needs a BFA in Brisbane, Sydney, Melbourne, or Anywhere in Australia?
- One party owns significantly more assets than the other.
- Protecting family wealth, business interests, or an inheritance.
- Blended families or second marriages where children from previous relationships are involved.
- Partners wanting financial clarity during a relationship.
- Avoiding Family Court involvement after separation.
Do any of these situations sound like you? Our lawyers can help you draft a BFA that specifically covers your unique assets. [Enquire Now]
Free Resource: The 2026 BFA Readiness Pack
Don’t start your agreement without our expert checklist. Our free guide includes:
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The “Golden Rule” Checklist: Everything you must disclose to stay legal.
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The AI Warning: Why DIY templates often fail in court.
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The 3-Step Process: Exactly how we secure your assets remotely.
👉 Download Your Free Readiness Pack Here
BFA Services Australia-Wide – No Office Visit Required
You don’t need to live near one of our offices to get a “watertight” Binding Financial Agreement. Because BFAs for married and de facto couples (outside of Western Australia) are governed by the Federal Family Law Act 1975, the legal requirements are the same whether you are in Brisbane, Sydney, Melbourne, or Darwin.
We make the process 100% digital and remote-friendly:
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Consultations via Phone or Video: Meet with Samantha and our family law team from the comfort of your home or office.
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Digital Drafting & Reviews: We handle all document preparation and exchanges via secure email and digital portals.
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Remote Independent Advice: The mandatory legal advice required to make your BFA binding can be delivered via video link, ensuring you meet all “Face-to-Face” requirements without the travel.
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Sign From Anywhere: We guide you through the signing and witnessing process remotely, so you never have to step foot in a law firm.
Why “Minus WA”? While we can assist married couples in Western Australia, de facto BFAs in WA fall under state-specific legislation (Family Court Act 1997). For de facto couples in every other state and territory, our experts can act for you today.
Living interstate or in a regional area? Contact us today.
Tailored for the FIFO Lifestyle
We understand that for FIFO workers and their partners, time is your most valuable asset. Coordinating legal appointments shouldn’t have to happen during your precious time off.
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Work-Life Alignment: We offer flexible consultation times that fit around your swing, whether you’re on-site or back home.
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No Travel Required: Since we operate 100% digitally, there’s no need to spend your R&R driving to a law office.
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Protecting High Earnings: FIFO roles often involve significant remuneration and complex superannuation. A BFA ensures your hard-earned wealth is protected from the start.
Read our Comprehensive Guide for FIFO Workers navigating Divorce and Separation here.
Considerations and Legal Pitfalls
⚠️ Even a minor drafting mistake—like referencing the wrong section of the Family Law Act—can render a BFA invalid. That’s why choosing a qualified family lawyer is essential.
While BFAs are powerful tools, they are not without risk. Common pitfalls include:
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Inadequate or dishonest financial disclosure
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Poor drafting or referencing errors (e.g. incorrect legal clauses)
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Pressure or coercion to sign the agreement
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Lack of legal advice
Don’t let your agreement be overturned. Read our guide on the [5 Common Pitfalls of BFAs] here.
Secure Your Future with Expert Guidance
Binding Financial Agreements are a proactive, cost-effective way to ensure transparency and peace of mind in your relationship. By clearly defining your financial future now, you retain control over your assets and avoid the emotional and financial toll of the Family Court later.
Meet Samantha – Your BFA Specialist
Navigating the complexities of the Family Law Act requires more than just a template; it requires an expert who understands your unique circumstances.
Samantha, our Associate and Head of Family Law, specialises in drafting “watertight” BFAs tailored to protect your long-term wealth. Whether you are safeguarding a business, property, or family inheritance, Samantha provides the clear, compassionate, and expert advice needed to make the process seamless.
What Our Clients Say
⭐⭐⭐⭐⭐ From Johnny J- Absolutely blown away by the level of professionalism shown throughout the business. I had the pleasure of working alongside a wonderful lady named Samantha. She was very helpful and very informative. Would recommend over and over again. Thank you for making it so much less stressful Sam 🙏
Download our Free BFA Readiness Pack today:
Take the First Step Today
Don’t leave your assets to chance. Contact our experienced family law team to discuss how a BFA can work for you. We serve clients across Australia.
Phone us on 1300 334 566 or leave your details below and we will get back to you.
Secure Your Future with a Legally Sound Financial Agreement
At Bennett Carroll Solicitors, we’ve helped hundreds of Australian’s create strong, effective Binding Financial Agreements.
Our family law team offers:
- Fast turnaround times
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Legal advice tailored to your circumstances
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Ongoing support during or after a relationship
📞 Call us on 1300 334 566 or 📧 email info@bcglaw.com.au to get started.
Why Choose Bennett Carroll for Your BFA?
✅ Nationally recognised family law experts.
✅ Decades of experience in Binding Financial Agreements
✅ Transparent pricing with no hidden fees
📞 Call 1300 334 566 | 📧 info@bcglaw.com.au – Your Legal Problem Solvers – Bennett Carroll Solicitors
