Binding Financial Agreements (you might have heard them described as pre-nuptial agreements) can be a powerful and effective tool in protecting assets as well as avoiding the time, cost and uncertainty of a Family Law Court dispute.
An Agreement (a BFA) can be entered into by the parties before their relationship starts, during the relationship and even after the relationship ends.
A BFA can dictate which of your assets are protected from any claim as well as assets that might be shared and the proportions in which the parties share them.
BFA's are used by many couples particularly when they meet later in life and have children from previous relationships. In these circumstances, both people are likely to enter the relationship with their own assets and have a very reasonable desire to avoid arguments, look after one another and look after their children.
Coupled with Wills drafted for both parties, a BFA can be a comprehensive answer to a range of events that might occur to parties in the future.
Once signed, an effective BFA will mean that the parties can rest easy knowing that they've put a plan in place for whatever the future might hold.
If you'd like to know more about a BFA and how it might apply to you please call us on 0474 112 316.
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