Family Law & Financial Agreements
Clear, discreet advice on Binding Financial Agreements and relationship matters — from a family lawyer who has supported hundreds of clients.
Our approach to family law
At Saxby & Munns we believe that most family law disputes can be resolved by the parties themselves, when they both feel educated and are able to address these issues in a safe environment. Having a background in facilitation and mediation, we pride ourselves on being able to resolve complex issues around financial settlement, custody disputes, child support and property matters without the need for expensive, time-consuming and emotionally draining litigation.
We can support couples in achieving their objectives without spending tens of thousands of dollars engaging lawyers whose agendas are win/lose outcomes. By creating a safe environment supported by experienced mediators, we enable couples to stay in control of their destinies and maintain a respectful dialogue to produce a win/win outcome — whilst preserving the relationship, particularly when there are kids involved and an ongoing relationship to be maintained.
Having achieved that outcome, we can prepare the documentation to create legally binding agreements, such as Child Support Agreements and Binding Financial Agreements.
We can support couples in achieving their objectives without spending tens of thousands of dollars engaging lawyers whose agendas are win/lose outcomes. By creating a safe environment supported by experienced mediators, we enable couples to stay in control of their destinies and maintain a respectful dialogue to produce a win/win outcome — whilst preserving the relationship, particularly when there are kids involved and an ongoing relationship to be maintained.
Having achieved that outcome, we can prepare the documentation to create legally binding agreements, such as Child Support Agreements and Binding Financial Agreements.
What is a Binding Financial Agreement?
A Binding Financial Agreement (BFA) is an agreement between two parties — either in anticipation of a new relationship, an existing relationship or one that has come to an end — recording how they would like to arrange the splitting of financial assets in the event of a relationship breakdown.
A BFA may include provisions relating to spousal maintenance, the splitting of superannuation, and other assets the parties may own either in their own right or in joint names. A BFA is not intended to address issues relating to the support and/or custody of children. These can be addresses separately, by way of Child Support Agreement, .Paranting Agreements, or consent orders via the courts
A BFA may include provisions relating to spousal maintenance, the splitting of superannuation, and other assets the parties may own either in their own right or in joint names. A BFA is not intended to address issues relating to the support and/or custody of children. These can be addresses separately, by way of Child Support Agreement, .Paranting Agreements, or consent orders via the courts
When can I use a BFA?
A BFA may be used by any party who is in, coming out of, or contemplating entering into either a de facto relationship or marriage with another person. It can be used by same-sex or opposite-sex relationships, and can be created prior to, during, or at the completion of a relationship.
Do I need a BFA?
The decision to enter into a BFA is a matter of choice, but it can provide significant advantages in terms of certainty, legal protection and cost savings. While there is a cost in creating and completing a BFA, this is generally far lower than the benefits it provides — which can include avoiding stamp duty on the transfer of a jointly held asset, or the cost of a conflictual separation of assets.
Formalities for a valid, binding agreement
For a BFA to be legally binding, both parties must receive independent legal advice and a certificate confirming they understand the advantages and disadvantages of entering the proposed BFA. This ensures both parties fully understand their rights and obligations under the BFA, and the rights they may be waiving by entering into it rather than relying on other remedies available under family law legislation.
Can a BFA be challenged in court?
Like any agreement, a BFA may be challenged in court by a party who feels the agreement, or provisions within it, should be overturned. Circumstances where a court upholds such a challenge are greatly reduced where the agreement is professionally prepared with the support of appropriately qualified legal practitioners, and where both parties make full and complete disclosure of assets and liabilities and enter the agreement of their own free will.
Our family lawyer has acted for parties on BFAs for over 15 years, supporting hundreds of clients toward a smooth, equitable agreement during what is often an extremely stressful period of their lives.
Should you have any initial questions, please contact us direct for a no-obligation consultation.
Our family lawyer has acted for parties on BFAs for over 15 years, supporting hundreds of clients toward a smooth, equitable agreement during what is often an extremely stressful period of their lives.
Should you have any initial questions, please contact us direct for a no-obligation consultation.