Understanding pre-nuptial & binding financial agreements
Pre-nuptial agreements, known in Australia as binding financial agreements (BFAs), can be entered into before marriage, during a marriage, or after a divorce. These agreements allow couples to outline how their assets and financial resources will be distributed in the event of separation or divorce, providing a measure of security and clarity for the future.
BFAs can cover a wide range of financial matters, including:
- Division of property and financial assets
- Superannuation entitlements
- Financial support (spousal maintenance) for either party during or after the relationship
- The Importance of binding financial agreements
- Creating a BFA requires careful consideration and a comprehensive understanding of both parties' financial landscapes. These agreements not only protect assets and reduce the potential for future conflict but also ensure that both parties have a clear understanding of their financial rights and obligations within the relationship.
How we can help
At Parker Coles Curtis, our approach to pre-nuptial and binding financial agreements includes:
- Tailored advice: providing personalised advice that reflects your unique situation and objectives.
- Drafting and review: expertly drafting your agreement to ensure it is comprehensive and compliant with current Australian laws. We also offer thorough review services if you have been presented with an agreement by your partner.
- Negotiation: assisting in negotiations to reach an agreement that is fair and equitable for both parties.
- Formalisation: ensuring that your BFA is correctly formalized and legally binding, to protect against future disputes.
Planning for the future
Whether you are considering marriage, already married, or contemplating separation, a binding financial agreement can offer significant protection and peace of mind. Contact Parker Coles Curtis to discuss how we can assist in securing your financial future through a carefully crafted pre-nuptial or binding financial agreement.