Leave the Family Court out of your financial separation.
You’ve separated from your partner; you’ve reached an agreement, whether by email, text or over a cup of coffee and now you need to make sure it’s watertight.
If your agreement won’t be seen by the Court as fair, it may be best to draw it up as a Binding Financial Agreement (BFA).
Getting it drawn up legally is important because creates certainty and security as to your financial relationship.
You may make a BFA before or during a relationship or after separation. We only act in matters with BFAs made after separation.
The advantages of a BFA are:
- Certainty and security: a BFA is a legally binding agreement.
- Tax savings: transfer duty exemptions may apply for real estate transfers.
- Privacy: by having a private agreement, you will keep your financial affairs away from the Court.
- Control: by entering into an agreement, you and your partner decide how your assets will be divided. You effectively remove the Family Court’s power to make that decision. This also means you can formalise a financial separation that is outside the Court’s requirement for a “just and equitable” division of property.
our services
How we can help you
Formalise a financial agreement with your partner quickly and accurately.
Binding Financial Agreement
$3850
We’ll give you advice and answer your questions about your proposed agreement. Then we’ll prepare a draft agreement to make sure it’s watertight.
Get started with a consultation ($385). We will credit the consultation fee toward the cost of a binding financial agreement.
We only act in matters with BFAs made after separation.
Our fixed fee includes the advice required under the relevant laws.
Our fixed fee excludes:
- agreements involving large asset pools, complex transactions, complex financial affairs or superannuation splitting;
- making enquiries to verify the assets, liabilities or resources of either party or the values thereof;
- negotiations or making substantial changes to the draft BFA;
- disbursements such as property title searches (charged at cost).
We can give you a quote for any of these additional services.
Review of draft Binding Financial Agreement
$2950
If your partner has prepared a draft BFA, we’ll review the agreement with you and give you the advice required under the relevant laws.
We only act in matters with BFAs made after separation.
Our fixed fee excludes:
- advising on agreements involving large asset pools, complex transactions, complex financial affairs or superannuation splitting;
- making enquiries to verify the assets, liabilities or resources of either party or the values thereof; or
- negotiations or making any changes to the BFA.
We can give you a quote for any of these additional services.
Why choose us
With our practical advice and solutions you can minimise the misery and expense of separation.
01.
We focus on resolution
Our services are tailor-made to help you resolve matters with your partner and stay out of Court.
02.
We make it easy for you
We offer practical guidance at every step. We’ll help you navigate an amicable separation and protect your interests.
03.
Friendly and efficient service
We’ll anticipate your needs and exceed your expectations. Read what our clients say.
What is the process?
Meet our team
We’re a tight-knit, multi-disciplinary team of lawyers, legal executives, accountants and software developers. We’re also passionate community leaders, sportspeople, podcasters, musicians, parents… and proud that these interests inform our professional lives.
Legal Practitioner Director
Legal Practitioner Director
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FAQs
You can enter into a BFA at any time – before or during a relationship or after separation, whether you are married or in a de facto relationship. The agreement itself only takes effect if you and your partner separate – you may well never use it!
We only act in matters with BFAs made after separation.
If your agreement won’t be seen by the Court as fair, it may be best to draw it up as a Binding Financial Agreement.
Read more about the advantages and disadvantages of BFAs here.
This depends on when you enter into the BFA.
BFA’s signed before or during a relationship typically specify how assets and liabilities will be divided if you and your partner separate.
BFA’s signed after separation tend to be quite specific and set out a series of agreed transactions that lead to financial separation.
Each party must declare their assets and liabilities to each other before the BFA is made. We recommend that the BFA include a comprehensive list of the current assets, liabilities and financial resources (whether in your name, your partner’s name, a family trust name, or a company or business name) of both parties.
The agreement cannot cover parenting matters.
Your partner must obtain independent legal advice before signing the BFA for the BFA to be binding. We can recommend lawyers who can assist.
Our advertised fees are for straightforward BFAs.
They do not include agreements involving large asset pools, complex transactions, complex financial affairs or superannuation splitting.
If your agreement is complex we will give you a quote for our services. For full terms see our Product Disclosure Statement.
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