Financial agreements can be classified into three categories:

1. Binding Financial Agreement (commonly referred to as a pre-nuptial agreement (entered into before or during the relationship) – s 90B,

2. Binding Financial Agreement during marriage – s 90C and

3. Binding Financial Agreement after divorce – s 90D.

If you have to an agreement without obtaining independent legal advice, remember that you should find out what your legal entitlements are before you sign anything.

Gaining knowledge on your legal entitlements will help you to make an informed decision before you enter into a binding agreement.

A qualified lawyer can draft the agreement for you. This will ensure that the agreement covers all legal issues, particular those you may not be aware of. A properly drafted agreement will help to ensure the agreement is binding.

Parties are often able to come to an agreement about a property settlement without Court involvement. If you and your partner reach an agreement you can apply to the Court for Consent Orders which is a relatively simple and inexpensive process.

Ensuring the Consent Orders are valid and binding

Full and frank disclosure must be demonstrated when identifying and declaring assets. Otherwise, your Consent Orders may be subject to a review and the Court has the option of favoring the other party due to dishonesty on the part of the non-disclosing party.

Legal representation is essential to ensuring full and proper consideration is given to all matters. When Consent Orders are sought, there should be enough information before the court to enable the court to make its own enquiry as to the justice and equity of the Consent Orders.

The lawyers at Mathews Family Law & Mediation Specialists Melbourne have extensive experience negotiating family law property settlements. We will carefully consider all aspects of your case and advise you on your specific situation. We will then negotiate in an attempt to reach an amicable outcome. We are committed to ensuring a fair settlement is achieved as quickly as possible, we aim to reduce the time taken and therefore the cost to you.

Mathews Family Law is a leading family law firm in Melbourne. Please contact us on 1300 635 529 to speak with a family lawyer from our law firm today. You can also send through your enquiry online now and we will contact you shortly.

Parties are often able to reach an agreement about a property settlement with the help of their lawyers. Where parties reach an agreement they can apply to the Court for Consent Orders which is a relatively simple and inexpensive process. When Consent Orders are made the parties gain the benefit of knowing their agreement is binding and enforceable.

If you cannot reach an agreement with your former partner then an application for property settlement must be filed. There are ongoing opportunities to settle proceedings before a decision is made by the Court. Where a settlement is not reached then the Court will make a decision as to how the property of the couple should be divided after a hearing. If the property is complex then the Family Court will hear the matter.

Your family lawyer will carefully consider all aspects of your case and advise you on your entitlements. Your lawyer will assist you to negotiate with your former partner in an attempt to reach an amicable outcome.

Parties are often able to reach an agreement about a property settlement and they can then apply to the Court for Consent Orders which is a relatively simple and inexpensive process.

If Consent Orders are made then the parties can rely on the knowledge that their agreement is binding and enforceable. An additional advantage is that certain tax benefits may be available to you.

An alternative to Consent Orders is a binding financial agreement which has different considerations and benefits.

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.

What Should Couples Discuss Before Entering a Binding Financial Agreement?

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:

Employment and Financial Contributions

• Who will work during the relationship?
• Will both partners continue working, or will one partner reduce or leave employment?
• How will income, expenses and financial responsibilities be managed?

Children and Family Responsibilities

• Do you intend to have children?
• Are there children from previous relationships?
• How will caring responsibilities be managed?
• How might future parenting responsibilities affect financial arrangements?

Changes in Circumstances

Relationships can change over time. Couples may wish to consider:

• What happens if one partner is unable to work due to illness, injury or disability?
• What happens if a child has additional needs requiring significant care?
• How might unexpected changes affect financial arrangements?

Future Financial Goals

It may also be helpful to discuss:

• retirement goals;
• ownership of property and other assets;
• financial priorities;
• savings and investment plans; and
• expectations about financial independence.

Why These Conversations Matter

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.

What Can a Binding Financial Agreement Cover?

A Binding Financial Agreement may deal with matters including:

• how property and financial resources will be divided following separation;
• responsibility for liabilities and debts;
• ownership of assets;
• financial arrangements during the relationship; and
• spousal maintenance arrangements.

The agreement can be entered into:

• before marriage or a de facto relationship;
• during a relationship; or
• after separation.

What Makes a Binding Financial Agreement Legally Binding?

For a Binding Financial Agreement to be valid and enforceable, certain legal requirements must be satisfied.

These include:

• the agreement must be in writing;
• both parties must sign the agreement;
• each party must receive independent legal advice from a qualified lawyer; and
• the required legal formalities must be followed.

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.

Can a Binding Financial Agreement Be Cancelled or Set Aside?

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.

Binding Financial Agreement Lawyers Melbourne

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:

• preparing Binding Financial Agreements;
• reviewing proposed agreements;
• providing independent legal advice;
• advising about asset protection; and
• resolving complex family law financial matters.

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.

About Vanessa Mathews — Accredited Family Law Specialist

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.