A Binding Financial Agreement (BFA) is one of the strongest ways couples in Australia can protect their assets, income, businesses, superannuation, inheritances, and future financial security.
But one question causes more confusion than any other.
“Do I need a lawyer for a Binding Financial Agreement?”
The short answer:
Yes. A BFA is not legally binding without independent legal advice for both parties.
Below is a complete breakdown of why, what the law requires, and how to safeguard your agreement from being overturned.
What the Law Says About Legal Advice for BFAs
Binding Financial Agreements are governed by the Family Law Act 1975 (Cth).
For the agreement to be valid, binding, and enforceable, each party must receive:
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- Independent legal advice,
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- From separate lawyers,
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- On their advantages,
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- Their disadvantages, and
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- The effect the agreement will have on their legal rights.
Both lawyers must then sign a Certificate of Advice, which forms part of the final BFA.
Without the certificates, the agreement will almost certainly fail if challenged.
Why BFAs Get Overturned Without Proper Legal Advice
Courts regularly overturn BFAs where:
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- One lawyer acted for both parties
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- Legal advice was superficial or rushed
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- Advice was not documented properly
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- One party felt pressured or didn’t understand the terms
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- The template used was recycled, foreign, or downloaded
BFAs are incredibly precise documents — and mistakes can cost hundreds of thousands of dollars.
This is why the safest option is to use a lawyer who drafts BFAs regularly, not someone who does one or two a year.
What Happens During a BFA Legal Advice Appointment?
At Adams United Lawyers, our process is simple and transparent:
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- Initial consultation(free)
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- Fixed-fee quote
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- You provide documents and background
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- We draft the agreement (or review the other side’s draft)
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- You receive full written advice
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- We sign your Independent Legal Advice Certificate
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- Your agreement becomes legally binding
Our fixed fees mean no hidden costs, no hourly rates, no surprises.
How Much Does a Lawyer Cost for a BFA?
Most firms charge:
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- $3,000–$8,000 for drafting
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- $2,000–$4,000 for reviewing
At Adams United Lawyers, we offer:
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- $2,200 fixed fee – full drafting, revisions, negotiation + Certificate
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- $990 fixed fee – review + Certificate
We service clients nationwide, including all states and territories.
T: 1800 407 792
📧 kadams@adamsunited.com.au
Can a Lawyer Help Prevent the BFA From Being Thrown Out?
Yes — and this is one of the biggest reasons to use an experienced BFA lawyer.
We ensure:
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- All legislative requirements are followed
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- Valuations, contributions, and future considerations are documented
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- Proper disclosure is exchanged
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- Certificates of independent legal advice are executed correctly
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- The agreement is structured to withstand future challenges
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- Pressure, duress, undue influence, or rushed signing is avoided
A well-drafted BFA gives you certainty, clarity, and future financial protection.
Who We Act For
We draft and review BFAs for:
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- Married couples
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- De facto couples
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- FIFO workers
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- High-asset individuals
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- Property investors
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- Business owners
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- Couples are separating but still living together
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- Couples wanting to protect future inheritances
If you want certainty and protection, we can help
Frequently Asked Questions
Do both parties need their own lawyer?
Yes. The agreement is invalid unless both parties receive independent legal advice.
What happens if one person refuses to get a lawyer?
The agreement cannot become binding.
Legal advice is compulsory.
Can a template or online kit replace a lawyer?
No.
Courts regularly invalidate DIY, US-based, or template agreements.
How long does a BFA take?
Drafting typically takes 72 hours, and reviews take 24 hours with our firm.
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