Question 1

What is a Binding Financial Agreement (BFA)?

Accepted Answer

A Binding Financial Agreement (BFA) is a legally enforceable contract between two people in a relationship — whether married or de facto — that sets out how assets, property and finances will be divided if the relationship ends. BFAs are governed by the Family Law Act 1975 (Cth). They are sometimes called prenuptial agreements, though they can be entered into before, during or after a relationship.

Question 2

Who needs a BFA in Australia?

Accepted Answer

Anyone who owns property, has savings, runs a business, or has received an inheritance may benefit from a Binding Financial Agreement. BFAs are particularly useful for people entering a new relationship with existing assets, couples where one partner has significantly more wealth, and business owners who want to protect their business interests.

Question 3

Is a BFA the same as a prenup?

Accepted Answer

In practical terms, yes. A Binding Financial Agreement made before marriage is the Australian equivalent of a prenuptial agreement. However, BFAs can also be made during a relationship or after separation. The term 'prenup' is informal; the correct legal term in Australia is Binding Financial Agreement under the Family Law Act 1975.

Question 4

How much does a BFA cost?

Accepted Answer

Legally Ready charges fixed fees for all services, including Binding Financial Agreements. You will receive a clear, fixed quote before any work begins — no hourly rates, no surprise invoices.

Question 5

Do de facto couples need a BFA?

Accepted Answer

Yes. De facto couples in Australia have similar rights and obligations to married couples under the Family Law Act 1975. A Binding Financial Agreement is equally available and equally enforceable for de facto relationships.

Question 6

What happens if I die without a Will in NSW?

Accepted Answer

In NSW, dying without a Will means intestacy rules under the Succession Act 2006 decide who inherits your estate. Your assets may not go to the people you intend. The intestacy rules follow a fixed order of priority — spouse, children, parents, siblings — and do not account for your specific wishes, blended family arrangements, or long-term partners.

Question 7

Does Legally Ready charge hourly rates?

Accepted Answer

No. Legally Ready charges fixed fees for all services. You will know the full cost before any work begins. This applies to Binding Financial Agreements, Wills, Testamentary Trusts, Powers of Attorney and Estate Planning packages.

Question 8

Can I work with Legally Ready if I'm not in Sydney?

Accepted Answer

Yes. Legally Ready is an online practice serving clients across all of Australia. All consultations and document preparation are conducted online. You do not need to be in Sydney or New South Wales to work with us.

Question 9

Do you offer services in Portuguese?

Accepted Answer

Yes. Lavinia Rangel is bilingual in English and Portuguese. Legally Ready can provide legal services and consultations in both languages, making it accessible to Brazilian and Portuguese-speaking clients across Australia.

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