What’s mine is yours
Have you and another person (male or female) been living together in a marriage or de facto relationship?
You might want to think about entering into a Binding Financial Agreement (BFA).
A BFA helps you secure your future by agreeing with your partner to settle any property or maintenance issues privately without the assistance of the family court.
A BFA offers great peace of mind by clearly outlining:
- Aspects of property ownership
- Entitlements to financial resources
- Division of superannuation (for married couples)
- The future of your estate and child entitlements
- Spousal maintenance
To create a binding BFA agreement, you need:
- The agreement signed by both you and your partner
- A statement proving you have both sought independent legal advice from a legal practitioner
- A certificate signed by the person providing the independent legal advice
While a BFA comes with some advantages, this is an important decision to get right. Once the BFA is signed, it is legally binding and you can’t change your mind, depart from the terms or set it aside to court.
The friendly team at CMS Legal is here to walk you through your rights and work out whether a BFA is right for you. We’ve armed our team of highly experienced professionals with the freedom and flexibility to spend more one-on-one time with you.
Contact us today for a free 1 hour in-office consultation on 08 9207 1866
