Protect Your Assets with a Legally Binding Financial Agreement
A Binding Financial Agreement in Australia is a private contract under the Family Law Act 1975 that allows couples to determine how property, assets and spousal maintenance will be dealt with if separation occurs.
At Adams United Lawyers, we draft fixed fee Binding Financial Agreements Australia wide for married and de facto couples.
Drafting Fee $2,200 including GST
Independent Legal Advice Review $990 including GST
What Is a Binding Financial Agreement
A Binding Financial Agreement allows couples to contract out of the Court’s discretionary power to divide property.
Agreements can be made:
Before marriage
During marriage
After separation
Before entering a de facto relationship
During a de facto relationship
After de facto separation
Without an agreement, the Family Court applies the four step property settlement process.
How the Court Divides Property Without an Agreement
Step 1 Identify and value the asset pool
All assets, liabilities and superannuation are included.
Step 2 Assess contributions
Financial and non financial contributions are considered.
Step 3 Assess future needs
Income disparity, age, health, care of children.
Step 4 Determine what is just and equitable
This process creates uncertainty and risk.
A Binding Financial Agreement removes that discretion.
Fixed Fee Binding Financial Agreements
Drafting $2,200 including GST
Includes consultation, tailored drafting, revisions, liaison and section 90G certificate.
Independent Legal Advice Review $990 including GST
Includes clause by clause review, written advice and certificate.
We service Queensland, New South Wales, Victoria, Western Australia, South Australia, ACT and Northern Territory.
Are Binding Financial Agreements Enforceable
To be binding:
It must be in writing
Signed by both parties
Each party must receive independent legal advice
Each solicitor must provide a signed certificate
Failure to comply can result in the agreement being set aside.
Speak to a Binding Financial Agreement Lawyer
Protect your position properly before separation becomes expensive litigation.
Book a consultation today.