Prenuptial & Binding Financial Agreements Perth

Your Assets. Safely Secured.

Premium Perth Lawyers Prepared To Defend Your Legacy

Safeguard your assets with experienced lawyers

Our experienced team of family lawyers specialise in crafting Binding Financial Agreements (BFAs), including prenuptial financial agreements, that protect your assets if a relationship breaks down. Whether you’re looking to safeguard your assets within a relationship or seeking security for the future, our dedicated team will guide you through every step, providing clear and thorough advice tailored to your situation, so you can move forward with confidence and peace of mind.

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Protect your property assets with confidence

When a relationship ends, it’s important to ensure your contributions and needs are recognised as you rebuild your future. A fair division of assets and property helps both parties move forward with financial security. Our experienced legal team guides you through the property settlement process, protecting your interests and helping you achieve a favourable and balanced outcome. Seeking the right legal advice can make all the difference. Property & Finance

What is a Binding Financial Agreement?

Binding Financial Agreements, known as a BFA, are vital for couples, married or de facto, when one has significantly more assets or expects a large windfall from investments or an inheritance for example. They also help couples reach a mutual agreement on asset divisions without having to go to Family Court. Whether you’re securing assets at the start of a relationship or navigating through a separation, BFAs offer a mutually agreed solution based on what you both determine as acceptable. At Loukas Law, our expert team provides tailored guidance through the entire process, ensuring your financial future is secure and protected. Book a Consultation

 

The types of Binding Financial Agreements

There are several different forms of BFAs in Australia, each designed for the different stages of a relationship are are often determined by timing. These include:

• Before: Prenuptial Financial Agreements

Commonly known as a ‘prenup’, these financial agreements are made before a couple enters a marriage of a defacto relationship to outline how assets are to be divided should the relationship end.

• During: Financial Agreements during the relationship 

These agreements are entered into during a couple’s relationship and set out how both assets and liabilities will be divided in the event of a separation.

• After: Postnuptial Financial Agreements

These agreements are entered into after a couple is either married or in a de facto relationship, to set out how both assets and liabilities will be divided in the event of a separation.

Each type of BFA helps you avoid costly court proceedings by mutually agreeing on a financial agreement tailored to your exact situation.

How Binding Financial Agreements can protect your future

A BFA offers several key benefits that can not only protect your assets but also provide you with secure peace of mind during or after a relationship. These include:

• Fairness and clarity: A BFA ensures both parties have clear, agreed-upon terms for property division.
• Privacy protection: It helps keep your financial matters confidential by avoiding public court proceedings.
• Strengthens relationship security: Setting clear terms can enhance trust and transparency in your relationship.
• Flexibility in terms: A BFA offers the freedom to create terms that reflect your current and future financial situation.

Important factors of a BFA for marriage and de facto couples

When considering a BFA before marriage or entering a de facto relationship, four key areas require careful reflection:

• Your financial future together: Predetermining how your assets are divided can influence how you and your partner approach financial decisions across the relationship.
• Emotional and psychological impact: Suggesting a prenuptial agreement can be a sensitive topic, and it is important to consider your partner’s emotional response about formalising your financial terms.
• Impact on your children: A BFA can affect your children’s financial security and overall quality of life.
• Legal implications: Understanding the legal aspects of a BFA is vital since it can reduce the risk of future litigations but not complete protection.

Whilst a BFA can safeguard your assets and reduce court involvement, it is crucial to remember that it is not a guarantee. If one partner hides assets or receives an unexpected inheritance, it can lead to legal challenges. This method applies to financial agreements, but it cannot set out other terms, such as parenting agreements.

Our team is here to guide you through every step, ensuring your agreement is as secure as possible.

Secure your assets with Loukas Law

Creating a BFA involves outlining assets, assessing contributions, and considering future needs to ensure a fair outcome for both parties. For those in Perth, prenuptial financial agreements, or any other form of a BFA, can offer peace of mind and protection for your financial future.

If you’re uncertain about whether a prenuptial financial agreement is right for you, Loukas Law offers a complementary 30-minute consultation to help guide your decision. Contact us today to speak with one of our expert family lawyers in Perth.

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How We Can Help With Your BFAs

Property & Financial

Achieve a fair division of assets for you and your family through a negotiated property settlement.

Property and Finance

Mediation

Ensuring lines of communication stay open between parties and helping them come to their own solutions.

Mediation

The Children

Experience, advice and counsel make a difference when negotiating to secure your child’s future.

The Children

Counselling

Our trusted partners offer strategies to support your emotional wellbeing and decision-making.

Counselling

 

Frequently asked questions

 

Are BFAs legally binding in Australia?

Yes, BFAs are legally binding in Australia under the Family Law Act 1975. However, there is a detailed legal process requiring each party must meet certain conditions, including obtaining independent legal advice, for the agreement to be enforceable.

Can a BFA be challenged or overturned?

Yes, a BFA can be challenged in court under certain circumstances, such as if there was fraud, duress, or failure to disclose all assets. The court can set aside the agreement, or part of it, if it deems it unfair or if there are significant changes, like the birth of children.

When should I consider getting a BFA?

You should consider a BFA if you want to clarify financial arrangements with your partner, protect your assets, or avoid lengthy legal disputes in case of separation. BFAs can be made before entering into a relationship or marriage, or at any stage during it

Can a BFA cover future inheritances or investment windfall?

Yes, a BFA can include provisions to protect future inheritances from being divided in the event of separation. This is particularly useful if one partner is expecting a significant inheritance, expects a windfall on investments, or wishes to protect their extended family assets.

Is a BFA enforceable if we reconcile after separation?

A BFA remains valid even if you reconcile after separation unless you explicitly decide to terminate or amend the agreement in accordance with the terms therein. It’s important to review the BFA with a lawyer if you get back together to ensure it still reflects your intentions.

What if we enter a BFA during or at the end of a relationship?

If entering into a BFA during or at the end of a relationship, both parties must have legal representation and the agreement must be properly drafted to ensure it is not set aside as a result of a future challenge.