Binding Financial Agreement
A Binding Financial Agreement (BFA), or prenup, lets couples define financial arrangements if they separate. At MCB Lawyers, our prenups and financial agreements lawyers in the Northern Beaches, Wollongong & Parramatta provide legal guidance to help individuals safeguard their financial interests.
Need a watertight financial agreement?
Clear advice, robust drafting and fast execution—serving the Northern Beaches, Parramatta & Wollongong.
What is a Prenup or Financial Agreement?
A Binding Financial Agreement is a legal document that determines how assets and liabilities are shared if a relationship ends. These agreements apply to:
- Married couples – Prenuptial and postnuptial agreements.
- De facto couples – Agreements before, during, or after a relationship.
- Same-sex relationships – Ensuring financial protection under family law.
For legal requirements, visit Federal Circuit and Family Court of Australia.
Not sure whether you need a BFA or Consent Orders? The Federal Circuit and Family Court of Australia (FCFCOA) explains both pathways for resolving property matters.
Our Legal Services
Drafting & Strategy
Identify risks, ring-fence assets, and align the agreement with your commercial and family goals.
Independent Legal Advice
Compliant advice and signed statements for each party, delivered promptly.
Review & Negotiation
Stress-test terms, fix issues that could invalidate the agreement, and negotiate fair adjustments.
Superannuation & Maintenance
Structure super splits and (if needed) spousal maintenance terms correctly.
Businesses, Trusts & Loans
Address control, valuation, loans and tax issues for robust enforceability.
Risk & Enforceability
Manage risks of pressure, non-disclosure and unfairness to avoid later challenges.
How a Binding Financial Agreement is Completed
Strategy & draft → review & negotiate → independent legal advice → execution & file notes (plus trustee notifications for super).
Strategy & Draft
Clarify objectives, identify risks, and prepare a draft aligned with Part VIIIA/Part VIIIAB requirements.
Review & Negotiate
Resolve disclosure, valuation, scope and fairness issues to reduce set-aside risk.
Independent Legal Advice
Each party receives advice on the effect, advantages & disadvantages; lawyer statements are prepared.
Execute & Finalise
Signatures, exchange of advice statements, file notes; notify **super trustees** where applicable.
Have a draft “prenup” you want us to review?
We’ll stress-test enforceability and fix issues before you sign.
Frequently Asked Questions
What is a prenuptial agreement, and why might I need one?
A prenuptial agreement, or prenup, is a legal document that outlines how a couple’s assets and finances will be managed in the event of a separation. It’s important because it provides clarity and protection, helping to prevent misunderstandings and ensuring a harmonious relationship.
Can a prenuptial agreement cover more than just property division?
Yes, a prenuptial agreement can address a variety of financial topics, including asset protection, spousal support, and debt responsibility. It allows couples to set clear terms upfront, creating a solid financial foundation for their future together.
How does creating a prenuptial agreement encourage open communication?
Drafting a prenuptial agreement involves discussing financial expectations and goals with your partner, fostering open and honest communication. This process helps ensure that both parties are on the same page and can build their lives together with clarity and confidence.
Are prenuptial agreements only for those getting married?
No, prenuptial agreements can also be beneficial for couples entering into a de facto relationship or considering a financial agreement later on. These agreements provide a framework for managing finances, regardless of the stage of your relationship.
How does MCB Lawyers assist with prenuptial and financial agreements?
Our friendly team is here to guide you through the process with care, ensuring that the agreement reflects your unique circumstances and shared goals. We provide expert advice and support, helping you navigate the ins and outs of financial agreements with compassion and expertise.
Is a prenuptial agreement legally binding in Australia?
Yes, prenuptial agreements are legally binding in Australia, provided they meet certain legal requirements. Our team ensures that your agreement is drafted correctly, giving you peace of mind and legal protection.
What happens if we need to change our prenuptial agreement later on?
Life circumstances can change, and so can your agreement. We can assist you in updating your prenuptial or financial agreement to reflect your current situation, ensuring it continues to meet your needs and goals.
How do I start the process of creating a prenuptial agreement?
The first step is to have an open conversation with your partner about your financial expectations and goals. Then, contact us at MCB , and we’ll guide you through the legal process, providing the support and expertise you need.
What if my partner and I can't agree on the terms of the prenup?
Our team can facilitate discussions and negotiations to help both parties reach a mutually agreeable solution. We aim to ensure that the agreement is fair and empowering for both parties.
Why choose MCB for your prenuptial and financial agreements?
Serving Manly and the Northern Beaches, we are committed to helping you secure your future with compassion and expertise. Our personalised approach ensures that your agreement is tailored to your unique circumstances, allowing you to focus on building a life filled with love and trust.
Ready to protect assets and reduce future disputes?
We’ll structure a Financial Agreement that stands up—and gets signed on time.