Australian Family Law · Plain English Guide
Financial Binding
Agreements.
Everything you need to know about financial agreements in Australia. What they cover, when they apply, and how to make them binding — explained in plain English, without the legal jargon.
Financial Agreements · Pre & Post Separation · Plain English
A Binding Financial Agreement—also called a BFA
What is a Binding Financial Agreement?
A Binding Financial Agreement (BFA) is a legal document that outlines how a couple’s property, finances, and superannuation will be divided if the relationship ends. It can be made before, during, or after a marriage or de facto relationship.
When Can You Make BFA?
You can create a BFA:
Before you move in or get married (like a prenup)
During the relationship
After separation or divorce
Example
David owned a home before meeting Amanda. They signed a BFA before marriage to say he’d keep the home if they separated. Years later, the agreement helped them avoid a legal dispute.
What Can It Cover?
Property division
Who gets what (homes, savings, vehicles)
Spousal maintenance
Superannuation splitting
BFAs do not cover parenting arrangements.
Why Use One?
To protect your existing assets
To avoid future disputes
To give clarity and peace of mind
To save on legal costs after separation
Are BFAs Enforceable?
Yes—if both parties get independent legal advice and the agreement is in writing and properly signed.
Can You Change It Later?
Yes. You can:
Replace it with a new agreement
End it by agreement
Ask the court to set it aside in rare cases (e.g., fraud or major change)
Final Thought
A BFA is a proactive way to protect your financial future. It’s not just for the wealthy—it’s for anyone who wants clear terms if things don’t work out.
