Binding Financial Agreements are governed by the Family Law Act and are agreements which are generally entered into between two people of a domestic relationship.

They are commonly referred to as “pre-nups”, but can be entered into before, during or after a relationship breakdown, be it a marriage or de-facto relationship. These agreements cover matters such as division of property and other assets, finances, superannuation, spousal maintenance and the like after a relationship breakdown or in the event of a relationship breakdown.

Each party to a Financial Agreement must obtain independent legal advice.

It is important to note however, that as these Agreements are relatively new to the law, there is still a level of uncertainty in relation to their enforceability.

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