Binding Financial Agreements

Level 5, 11 Eastern Road,
South Melbourne, VIC 3205

A binding financial agreement is an agreement under the Family Law Act which sets out how assets and property are divided after separation.

A binding financial agreement can be entered into before (often called a “prenup”) or during (sometimes called a “midnup”) a marriage or de facto relationship or after separation.

These agreements offer clients flexibility to plan ahead for a potential separation and when negotiated after separation offer discretion and the capacity to enter terms of settlement that fit their unique needs.

Learn More

Our Focus Areas

Binding Financial Agreements require a high level of expertise and attention to detail, they are documents that are an investment. Our team work together to draft and negotiate agreements of the highest quality for client piece of mind.

Binding Financial Agreements require collaboration between the parties’ lawyers. We work to ensure open effective disclosure and negotiation of terms that address the needs of clients. Working in this way is an essential element of such agreements.

A well drafted agreement is an investment in certainty and resolution of all issues in dispute. These agreements take time and consideration drawing on the very best skills of the lawyers involved.

Drafting high quality agreements often means drawing on expert input from barristers who excel in this area of practice. We regularly engage counsel to work with us and our clients to finalise and advise on complex agreements.

The ultimate goal is a binding outcome so that clients move on with certainty. We always consider alternate means of formalising agreements and how we can deliver the best outcome possible for clients.

Our Difference

We understand the correct use and application for Binding Financial Agreements, knowing one’s limitations is a true measure of mastery in any arena. With this approach and confidence our clients can rely on our advice and work.

Family Law specialists

Whether it is a prenup, midnup or post separation Binding Financial Agreement working with accredited specialists in family law means that clients can be confident they are working with the best possible people towards their desired goals.

Understanding limitations

Navigating complex areas of family law requires an understanding of when and how Binding Financial Agreements can and should be used. We understand the limitations of these agreements and where they can be applied with confidence.

Network partnerships

We know to achieve the best results for clients we need to draw on our network partnerships with others who excel in their respective fields. When drafting Binding Financial Agreements we work with accountants, financial planners, Wills and Estate Lawyers and barristers to ensure any agreement covers the necessary bases for our clients.

Holistic advice

Our staff know that a holistic approach where all parts of an equation must be explained only in reference to the whole gives our clients the best possible representation.

Frequently asked questions

A prenup is a Binding Financial Agreement that sets out how assets and superannuation will be divided between spouse in the event of their future separation. Such an agreement can be entered before you start living with someone, before marriage, at any stage whilst living together or being married – essentially any stage before separation.

To be binding an agreement must comply with various aspects of the Family Law Act. This is a complex area of law and requires your lawyer to take particular care and attention to ensure agreements are binding and to advise clients about the circumstances under which an agreement may not be binding. Binding Financial Agreements are often found to not be binding by the Family Court and for this reason working with experienced lawyers in this area is essential. These agreements do have limitations and knowing those boundaries is the mark of an exceptional lawyer.

Binding Financial Agreements are investments, they are detailed and considered documents. For this reason such agreements require skilled lawyers taking the necessary time to draft and review all aspects. Costs for these agreements can start at around $10,000 and increase from there depending on the size of the asset pool and the complexity of the proposed terms of settlement. As with most things in life you get what you pay for, there are lawyers offering Binding Financial Agreements for a few thousand dollars, it is a matter for clients to consider the risks associated with these agreements and the investment they wish to make.

No. We do not sign off on Binding Financial Agreements that we have not drafted or where we have not been involved in the disclosure, negotiation and review of the document. A lawyer signing a Binding Financial Agreement is attesting to providing advice on the document, the risks associated with providing advice on a document that was not drafted by that lawyer, or in the negotiation with another lawyer who practices in family law and specifically binding financial agreements is too great and would only do the client a mis service.

Speak directly with one of our lawyers

Do you have questions about our legal services or how we can assist with your case? Schedule an initial consultation with our team.

Call Us

Practice Areas

Our Focus Areas

Binding Financial Agreements require a high level of expertise and attention to detail, they are documents that are an investment. Our team work together to draft and negotiate agreements of the highest quality for client piece of mind.

Our Difference