Best practice guidelines
- It is important that the BFA complies with the Family Law Act.
- You must provide a full and frank disclosure of your financial protection: 'to protect it you must disclose it'
- The Agreement needs to be carefully drafted in consultation with both parties and their legal representatives. It should be a negotiation.
- There needs to be fairness and equity in the provisions, including:
- The occupation of the former matrimonial home;
- Cash settlements (the longer the relationship the higher the payout); and
- If maintenance is provided, a reasonable amount or not to deal with maintenance at all to allow a claim in the event of a separation.
- Neither party should engage in any overbearing conduct placing unreasonable pressure, influence or demands on the other party.
- Consult a Family law specialist
- Do not download a pre-nup from the internet and think it will stick.
- Allow sufficient time for the adequate preparation of the BFA before signing;
- Ensure that each party has quality independent legal representation to make an informed and voluntary decision about the terms of the BFA.
- DO what the BFA says.
- Keep proper records.
- Maintain a clear separation of your 'Separate Property' do not merge or mix your assets!
- DO re-visit the BFA every 5 years or so
- Tell your accountant about the BFA so he/she can advise you properly about your financial affairs.
- Ensure your BFA is consistent with your Estate Planning.
Get in touch today for a fixed fee quote
Don't hesitate and regret it later! Remember your Binding Financial Agreement or pre nuptial agreement is a document that is negotiated and agreed between you and partner before you both sign it. That way both parties have a say about the content of the Agreement and the end result, and there are no hidden surprises.
It is a fair way to protect the assets and wealth you both bring to the relationship and to document what happens if ever you break up in the future.
Fidan is a family lawyer with a difference
Family Law Accredited Specialist
Specialist accreditation is held by less than 6% of the profession in NSW
Fidan went on national television to talk about her own Financial Agreement and genuine belief that all things are not equal in family law. Fidan is a genuine divorce lawyer who is not shy to say what she really thinks about the importance of pre nups in a relationship. Based in Sydney NSW, Fidan can help you negotiate and draft a Financial Agreement of exceptional quality. What more can you ask for?
Fidan is a family lawyer with a difference
Family Law Accredited Specialist
Specialist accreditation is held by less than 6% of the profession in NSW
Fidan went on national television to talk about her own Financial Agreement and genuine belief that all things are not equal in family law. Fidan is a genuine divorce lawyer who is not shy to say what she really thinks about the importance of pre nups in a relationship. Based in Sydney NSW, Fidan can help you negotiate and draft a Financial Agreement of exceptional quality. What more can you ask for?