East Coast Law is a trusted family law firm, providing comprehensive legal services to individuals and families in Newcastle, Toukley, Maitland, Edgeworth & Port Macquarie. Our specialists are experienced in all aspects of family law, including the negotiation and ratification of binding financial agreements including Prenuptial Agreements, Postnuptial Agreements, and Financial Separation Agreements.
Binding Financial Agreements (BFAs) can refer to a variety of different financial agreements referred to in the Family Law Act, 1975. Common titles such as prenups, postnups, cohabitation, divorce and separation agreements are all examples of BFAs.
In order for a binding financial agreement to be legally binding under Australian Family Law a number of strict criteria must be met:
As a legally binding document, it is very important that the BFA is carefully and properly drafted and only signed under the guidance of an experienced and trustworthy family lawyer.
A prenuptial agreement, commonly known as a prenup, is a binding financial agreement that is entered into by a couple before they are legally married.
Common reasons a court might set aside a prenuptial agreement include:
A postnuptial agreement, commonly known as a postnup, is a binding financial agreement that is entered into by a couple after they are legally married.
Financial separation agreements can be created through an informal “roundtable” between both parties and their solicitors, or more formal Family Mediation sessions, with the aim of settling property and asset issues without the expense, stress and uncertainty of having the courts decide.
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