Financial Agreements
At R+M Law we have extensive experience with Binding Financial Agreements. We can assist you with all types of Binding Financial Agreements, whether it is before marriage (often referred to as a pre-nuptial agreement or ‘prenup’), during marriage, as part of a de facto relationship, or as part of a separation or divorce.
A Binding Financial Agreement can set out how you and your partner’s assets will be divided when you separate. Binding Financial Agreements can also formalise on-going spousal maintenance payments.
Binding Financial Agreements are an increasingly commonly used way to avoid the costs and stress of Court proceedings if you and your partner separate. ‘Prenup’ Binding Financial Agreements can set out clearly what happens if you and your partner separate, avoiding any complex, costly and difficult negotiations in the event that a separation does occur.
The law regarding Binding Financial Agreements is complex. For this reason, it is a requirement for parties to obtain independent legal advice before entering into a Binding Financial Agreement. Our highly skilled lawyers have assisted many clients in the Canberra and surrounding region to understand proposed Agreements and to provide them with expert advice as to whether it is in their interests to enter into one or not.
We can also assist with the drafting and advising on Binding Child Support Agreements and Limited Child Support Agreements.
We understand that every matter is different. We will use our expertise and experience to create a Binding Financial Agreement that can protect your financial interests in the event of separation, or ensure that you get the best outcome as part of your larger property settlement.
Are you already a party to a ‘Prenup’ Binding Financial Agreement and your relationship has broken down? Our lawyers have extensive experience with advising on the validity and implementation of Binding Financial Agreements.
At R+M Law, we understand that every situation is different. Our team of experienced lawyers can advise you on what is most suitable for your individual circumstances. We will use our expertise and experience to help guide you to attempt to achieve the best possible outcome in the shortest possible time frame.
If you are unsure of your rights, entitlements or obligations in relation to Binding Financial Agreements (or property and financial settlements) please contact us to make an initial appointment with one of our experienced lawyers.
Financial Agreements
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A Binding Financial Agreement (BFA) is a legally enforceable contract under the Family Law Act 1975 that allows couples to set out in advance how their assets, liabilities, and financial resources will be divided if their relationship ends. BFAs are available to couples before marriage, during marriage, during a de facto relationship, or as part of a separation or divorce. Both parties must receive independent legal advice before signing — without it, the agreement is not binding.
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A BFA that is not properly prepared can be set aside by a court — leaving you with no protection at all. Requirements are strict: both parties must have received independent legal advice about the effect of the agreement and the rights they would have before a court; lawyers for both parties must sign certificates confirming that advice was given; and the agreement must be in writing. R+M Law has extensive experience drafting and advising on BFAs that are legally sound and protect our clients' genuine interests.
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In Australia, a 'prenup' is formally known as a Binding Financial Agreement made before marriage under the Family Law Act 1975. It is enforceable provided both parties received independent legal advice from a qualified solicitor before signing. A BFA before marriage sets out clearly what happens to assets and financial resources if the parties later separate — providing certainty and reducing the risk of expensive court proceedings. R+M Law advises both parties on whether signing a proposed BFA is in their interests.
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A court can set aside a BFA if: a party did not receive genuine independent legal advice; one party failed to fully disclose their financial situation; the agreement was entered into under fraud, undue influence, or unconscionable conduct; the agreement is impractical to carry out due to a significant change in circumstances; or a party with caring responsibilities for a child of the relationship would suffer hardship. This is why proper legal drafting and advice at the time of signing is essential.
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Yes. De facto couples — including same-sex couples — can enter into BFAs before, during, or after their de facto relationship. The requirements are the same as for married couples, including independent legal advice for both parties. R+M Law regularly assists de facto couples in Canberra, Queanbeyan, and Yass with drafting, reviewing, and advising on BFAs.
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Both are legally enforceable ways to record a property settlement. Consent orders are filed with the Federal Circuit and Family Court of Australia and approved by a registrar — the court's involvement provides an additional layer of scrutiny. A BFA is a private contract between the parties (with lawyers), not reviewed by the court, and relies entirely on the validity of the process and the legal advice given. Each has advantages in different circumstances; R+M Family Law can advise on which is most appropriate for you.
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Yes. A BFA can include agreed terms for ongoing spousal maintenance — financial support from one party to the other following separation. It can specify the amount, frequency, duration, and conditions for payment. Including spousal maintenance in a BFA gives both parties certainty and can avoid future court applications. R+M Family Law drafts BFAs that comprehensively address all financial aspects of a relationship, including spousal maintenance where relevant.
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A Binding Child Support Agreement is a separate enforceable agreement between parents setting out child support payments — which may differ from the Services Australia formula assessment. Both parents must obtain independent legal advice before signing. R+M Law also assists with Limited Child Support Agreements, which have lower formality requirements. Both types of agreements offer flexibility beyond the administrative system and provide certainty for both parents and children.
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Contact R+M Law on (02) 6225 7040 or by email at info@rmfamilylaw.com.au to arrange a consultation with one of our experienced family law solicitors. We serve clients in Canberra, Queanbeyan, Yass, and surrounding areas. Whether you need a BFA drafted before marriage, during your relationship, or as part of a separation, we provide clear advice tailored to your specific circumstances.