Tag: asset protection australia

Same-sex couples have the same rights and obligations under Australian family law as other couples when it comes to financial agreements, property settlements and relationship breakdown.

A Binding Financial Agreement (BFA) can be entered into by eligible same-sex couples:

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

A BFA allows couples to agree in advance how certain financial matters will be dealt with if their relationship ends.

What Can a Binding Financial Agreement Cover?

A Binding Financial Agreement may address a range of financial issues, including:

• responsibility for household and relationship expenses;
• whether particular assets are treated as individual or joint property;
• how property acquired during the relationship will be treated;
• responsibility for debts and liabilities;
• how assets and financial resources will be divided if separation occurs; and
• spousal maintenance arrangements.

The agreement can be tailored to reflect the individual circumstances, financial arrangements and future intentions of each couple.

Why Might Same-Sex Couples Consider a Binding Financial Agreement?

There are many reasons a same-sex couple may consider entering into a BFA, including:

• protecting assets accumulated before the relationship;
• clarifying financial arrangements where one or both partners have significant assets;
• protecting business interests, trusts or investments;
• providing certainty for blended families;
• addressing differences in wealth, income or financial contributions; and
• reducing uncertainty in the event of separation.

Every relationship is different, and the suitability of a Binding Financial Agreement will depend on each couple’s circumstances and objectives.

Do I Need Legal Advice Before Signing a Binding Financial Agreement?

Yes.

Binding Financial Agreements are complex legal documents and strict requirements apply for an agreement to be legally binding.

If you have reached an agreement with your partner, it is important to obtain independent legal advice before signing any document.

An experienced family lawyer can help you understand:

• your legal rights;
• the effect of the proposed agreement;
• the advantages and disadvantages of entering into the agreement; and
• whether the agreement properly reflects your intentions.

Binding Financial Agreement Lawyers Melbourne

At Mathews Family Law & Mediation Specialists, our Accredited Family Law Specialists assist same-sex couples with:

• preparing Binding Financial Agreements;
• reviewing proposed agreements;
• providing independent legal advice;
• advising about property and financial arrangements; and
• resolving complex financial matters following separation.

Our approach combines specialist family law expertise with practical advice designed to provide certainty and protect your interests.

Contact Mathews Family Law & Mediation Specialists to discuss whether a Binding Financial Agreement is appropriate for your circumstances.

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.

A man met a lady from Russia. He traveled to Russia, married her and brought her back to Australia. The relationship was the only reason for the lady to be in Australia. The parties entered into a Binding Financial Agreement on return to Australia. No copy was given to the wife, the agreement took away many of the entitlements Australian family law would have provided to her. She claimed she signed the agreement when she was under physical, mental and emotional stress from her husband. Despite obtaining independent legal advice prior to the agreement who had correctly told her the agreement was likely to disadvantage her if she signed it, she signed it in any case, the Federal Magistrate concluded the husband’s actions could be recognized as causing duress and were enough to be regarded as unconscionable conduct which allowed for the agreement to be set aside. The Magistrate also noted that the failure to give his wife a copy of the agreement was a breach of the legislation.

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.