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A financial agreement provides the couple with the knowledge that if they separate, the division of their property has already been arranged. The best advantage is obtained from a well drafted financial agreement which has been prepared after proper consideration on the part of the parties to the agreement
A Binding Financial Agreement (BFA) is a legal agreement that allows parties to a marriage or de facto relationship to decide how their financial matters will be dealt with if their relationship breaks down.
Although often referred to as a “prenuptial agreement” or “prenup”, a Binding Financial Agreement can be entered into:
A BFA can provide certainty and assist couples in managing financial issues by setting out how assets, liabilities, financial resources and other matters will be dealt with in the event of separation.
There are many reasons why a person may consider entering into a Binding Financial Agreement.
Common circumstances include:
A person who has accumulated significant assets before entering a relationship may wish to clarify how those assets will be treated in the event of separation.
This may include:
Business owners and professionals may consider a BFA to help manage the potential impact of relationship breakdown on:
Some people wish to preserve family wealth, anticipated inheritances or assets intended to benefit children from a previous relationship.
Where a person has children from a previous relationship, a Binding Financial Agreement may form part of a broader financial planning strategy to provide clarity and certainty.
A BFA may be appropriate where there is a significant difference between partners in relation to:
Relationship breakdown can be emotionally and financially challenging.
A carefully prepared Binding Financial Agreement may help reduce uncertainty and avoid disputes about financial arrangements in the future.
A BFA may also be considered by people who:
No.
Binding Financial Agreements are technical legal documents and strict requirements must be satisfied for an agreement to be binding.
Both parties must obtain independent legal advice about:
Because of the significant legal consequences, it is important that a BFA is prepared carefully and reflects the circumstances and intentions of both parties.
At Mathews Family Law & Mediation Specialists, our Accredited Family Law Specialists provide advice about Binding Financial Agreements for couples before, during and after relationships.
We assist clients with:
Our approach combines specialist family law expertise with practical advice designed to provide clarity and certainty.
Contact Mathews Family Law & Mediation Specialists to discuss whether a Binding Financial Agreement is appropriate for your circumstances.
This page was prepared and reviewed by Vanessa Mathews, Principal of Mathews Family Law & Mediation Specialists. Vanessa is an Accredited Family Law Specialist, Accredited Family Dispute Resolution Practitioner (FDRP) and Mediator who practises exclusively in family law. She assists clients throughout Australia with separation, divorce, parenting disputes, property settlements, financial agreements and other complex family law matters.
Helping families resolve conflict through specialist legal expertise and constructive dispute resolution.
Last reviewed: 24 July 2026
Disclaimer: This page provides general information only and does not constitute legal advice. Every family law matter is different and you should obtain advice tailored to
Financial Agreements can regulate financial arrangements between married couples, de facto couples and same sex couples.
Many people refer to a Binding Financial Agreement (BFA) as a “prenup” or prenuptial agreement.
In Australia, a prenuptial agreement can be legally binding, but only if it is prepared and entered into in accordance with the requirements of the Family Law Act 1975.
A Binding Financial Agreement is a legal agreement that allows couples to set out how their financial matters will be dealt with if their relationship breaks down.
A Binding Financial Agreement (BFA) is not only a legal document — it is also an opportunity for couples to have open and practical discussions about their financial expectations and future plans.
Before entering into a Binding Financial Agreement, couples should consider discussing important issues such as:
Relationships can change over time. Couples may wish to consider:
It may also be helpful to discuss:
A well-prepared Binding Financial Agreement should reflect the circumstances, intentions and priorities of both parties.
Taking the time to discuss these issues openly can help couples make informed decisions and reduce uncertainty about the future.
At Mathews Family Law & Mediation Specialists, our Accredited Family Law Specialists assist clients with Binding Financial Agreements before, during and after relationships. We provide practical advice to help ensure agreements are properly prepared and tailored to each client’s circumstances.
A Binding Financial Agreement may deal with matters including:
The agreement can be entered into:
For a Binding Financial Agreement to be valid and enforceable, certain legal requirements must be satisfied.
These include:
The purpose of obtaining independent legal advice is to ensure each person understands the effect of the agreement and the advantages and disadvantages of entering into it.
Yes.
A Binding Financial Agreement may be terminated by written agreement between the parties.
In some circumstances, a Court may also set aside a Binding Financial Agreement, including where legal requirements have not been met or where other circumstances justify setting aside the agreement.
Because of the potential financial consequences, it is important that a Binding Financial Agreement is carefully prepared and reviewed by an experienced family lawyer.
At Mathews Family Law & Mediation Specialists, our Accredited Family Law Specialists advise clients about Binding Financial Agreements before, during and after relationships.
We assist with:
Our specialist family law expertise allows us to provide practical advice tailored to your circumstances.
Contact Mathews Family Law & Mediation Specialists to discuss whether a Binding Financial Agreement is appropriate for you.
This page was prepared and reviewed by Vanessa Mathews, Principal of Mathews Family Law & Mediation Specialists. Vanessa is an Accredited Family Law Specialist, Accredited Family Dispute Resolution Practitioner (FDRP) and Mediator who practises exclusively in family law. She assists clients throughout Australia with separation, divorce, parenting disputes, property settlements, financial agreements and other complex family law matters.
Helping families resolve conflict through specialist legal expertise and constructive dispute resolution.
Last reviewed: 24 July 2026
Disclaimer: This page provides general information only and does not constitute legal advice. Every family law matter is different and you should obtain advice tailored to your circumstances.
Both you and your ex-partner are entitled to live in your home after separation regardless of whose name is on the title. You cannot be forced to leave just because the property is not in your name. The only way you can be forced to leave is if the Court orders it.
If you do have to move out, it will not affect your property entitlement. Your rights continue even if you leave. If you fear violence, you should seek advice immediately.
Sometimes one party may seek a sole occupancy order which requires the other party to leave. This allows the remaining spouse to live in the house until the property is divided. This order will usually only be made in exceptional situations where there is domestic violence, threats are being made or if the house has been adjusted because somebody has a disability.
The Family Law Act provides for binding financial agreements to be made between parties to a marriage, a de facto relationship, or a same-sex couple. These agreements can be made before, during or after the end of the marriage or relationship. Parties entering into a relationship agree on what will happen in the event that they separate. Parties entering into a second relationship or with substantial assets often like the protection of a financial agreement.
Step 1 – identifying and valuing the assets, liabilities and financial resources of the parties.
Step 2 – assessment of the contributions made by the parties during their relationship.
Step 3 – assessing the future needs of each of the parties.
Step 4 – decide if the proposed division of property fair to both parties.
Spousal, de facto or same sex couple periodic maintenance may be paid when one party has the financial capacity to pay and when the other party is unable to financially support himself or herself adequately.
In determining whether or not periodic maintenance is paid, each party’s financial income and commitments are assessed.
There is a competing obligation upon the courts to ensure that, as far as practicable, any orders made finally determine the financial relationships between the parties. As a result, there is a tendency for periodic maintenance orders to be for a shorter duration.
In addition to the assets and liabilities of the relationship, financial and non-financial contributions, other considerations such as future needs, income earning capacity as well as maintenance concerns will be taken into account when determining a property settlement.
Carol and her school-aged daughter Emily moved to Australia from the United States. Emily settled into school and Carol started in a new job which was a major promotion and pay rise. Meanwhile, unbeknown to Carol, Emily’s father sought and was granted custody of Emily through a Court in the USA. The Court ordered Emily to return to live in the USA. To her surprise, Carol was also told that if she accompanied Emily to the USA it was highly likely she would be arrested and imprisoned. Emily was very upset and confided in her teacher that she was very happy in Australia and wanted to stay with her mother. A timely application to the Australian Family Court enabled Emily to stay with her mother in Australia.
[Case: Emily avoids being returned to the USA]
Peter and Claudia were a fantastic father and daughter team, they spent many hours discussing their favourite sports. Peter was deeply involved with Claudia’s home schooling. He lived with Claudia and her mother. One night, though, Peter returned home from shopping to discover both Claudia and her mother were gone. An urgent application was made to the Family Court of Australia and the Australian Federal Police found Claudia safe in West Australia and a few days later she was home safe and sound with her dad. Peter and Claudia continue to spend many happy hours together today.
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AFFILIATES
Vanessa Mathews is the founder and managing director of Mathews Family Law & Mediation Specialists, and has the rare combination of social work qualifications and experience, combined with nearly 20 years’ experience as a lawyer and mediator; it makes her approach to resolving legal relationship issues both sensible and sensitive.
She is a fully accredited family law specialist, mediator, family dispute resolution practitioner and parenting coordinator with a commerce degree – adding a financially astute aspect to her practice.
Vanessa has extensive experience in complex issues that arise from relationship breakdown, and works in partnership with her clients,
who regularly describe her as empathetic
Vanessa is an active member of the family law profession and
a member of the:
Vanessa and Mathews Family Law & Mediation Specialists
are regularly recognised as a ‘Leading Victorian Family
Lawyer’, ‘Recommended Family Law Mediator’ and a
‘Leading Victorian Family Law Firm’ by Doyle’s Guide to
the Australian Legal Profession.
Get Started With Vanessa
Vanessa Mathews is the founder and managing director of Mathews Family Law & Mediation Specialists, and has the rare combination of social work qualifications and experience, combined with nearly 20 years’ experience as a lawyer and mediator; it makes her approach to resolving legal relationship issues both sensible and sensitive.
She is a fully accredited family law specialist, mediator, family dispute resolution practitioner and parenting coordinator with a commerce degree – adding a financially astute aspect to her practice.
Vanessa has extensive experience in complex issues that arise from relationship breakdown, and works in partnership with her clients,
who regularly describe her as empathetic
Vanessa is an active member of the family law profession and
a member of the:
Vanessa and Mathews Family Law & Mediation Specialists
are regularly recognised as a ‘Leading Victorian Family
Lawyer’, ‘Recommended Family Law Mediator’ and a
‘Leading Victorian Family Law Firm’ by Doyle’s Guide to
the Australian Legal Profession.
Get Started With Vanessa
