Binding
Financial
Agreements.
Define the terms before you need them.
What is a Binding Financial Agreement?
A Binding Financial Agreement (BFA) sets out how property and financial resources will be divided if a relationship ends — before, during, or after a marriage or de facto relationship. It does not predict the end of the relationship. It defines the terms if it happens.
A properly drafted and independently witnessed BFA can remove property division from the Family Court's discretion. Legally Ready drafts, reviews and negotiates BFAs for individuals entering marriage, de facto relationships, and blended families.
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.
Free BFA conversation guide
How to Start the BFA Conversation
(Without Making It Weird).
A practical guide for opening the conversation with care, clarity and mutual protection — including three ways to begin, what to do if it lands badly, and common mistakes to avoid.
- Three practical conversation openers
- A calm response when your partner gets defensive
- The next step once the conversation is open
Who it's for
- People entering a new relationship with existing property, savings or a business
- Couples where one partner has significantly more wealth or debt
- Business owners who want to protect their business interests
- Anyone who has received, or expects to receive, an inheritance
- De facto couples who want legal clarity about their assets
- * De facto financial agreements are available under the Family Law Act in all states and territories except Western Australia, where different rules apply to de facto property matters.
What's included
- Initial consultation to understand your situation
- Fixed-fee quote before any work begins
- Drafting of the Binding Financial Agreement
- Independent legal advice for you, with a signed statement of advice (required by law — your partner will need their own independent lawyer)
- Execution of the agreement and exchange of the signed statements of legal advice
Common questions
Is a BFA legally binding?
Yes — if it meets the strict requirements of the Family Law Act 1975. The agreement must be in writing and signed by both parties, and before signing, each party must receive independent legal advice from their own lawyer about the effect of the agreement and its advantages and disadvantages. Each lawyer must provide a signed statement confirming that advice was given, and the statements must be exchanged. If these requirements aren't met, the agreement generally won't be binding. Getting the process right from the start is what gives a BFA its strength.
Can a BFA be challenged?
Yes, but only on specific grounds set out in the Family Law Act. A court can set aside a BFA where one party engaged in fraud (including failing to disclose a significant asset), the agreement was signed under duress or undue influence, the agreement was entered into to defeat a creditor, it has become impracticable to carry out, or circumstances relating to the care of a child have materially changed and enforcing the agreement would cause hardship. A BFA cannot be set aside simply because one party later feels the deal is unfair. The real risks lie in the process — rushed timing, pressure, incomplete disclosure, or advice treated as a formality. Our approach is designed to eliminate those risks.
Do we both need our own lawyer?
Yes. The law requires each party to receive advice from their own independent lawyer — one lawyer cannot advise both of you. We act for you, and your partner will need to engage and pay for their own lawyer. We can recommend practitioners who are experienced with BFAs and can turn the advice around promptly.
How long does a BFA take?
The timeline depends on the complexity of your situation and how quickly both parties can obtain independent legal advice. A straightforward BFA can typically be completed within two to four weeks. If you're planning to sign before a wedding or moving in together, start early — agreements signed under time pressure are the ones most vulnerable to challenge.
This page provides general information about Australian law. It isn't legal advice for your situation — book a consultation to discuss what applies to you.
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what matters?
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