Financial Agreements

Binding Financial Agreements – Expert Legal Advice in Victoria

At Chinka (HEP) Steel, we understand the importance of protecting your financial future. Whether you are entering a relationship, already in one, or going through a separation, a Financial Agreement can provide clarity and security for both parties.

A Financial Agreement is a written document which sets out what you and your partner have agreed to do with respect to financial matters (including property settlement, maintenance and Superannuation splitting) in the event of a breakdown of the relationship. A Financial Agreement does not have to be approved by a court- in fact, it is used in order to ensure that a Court cannot interfere with private arrangements made between two consenting individuals.

Our experienced family law solicitors offer expert advice to ensure your agreement is legally sound, enforceable, and tailored to your needs.

What is a Binding Financial Agreement?

A Binding Financial Agreement (BFA), also known as a:

Pre-Nuptial Agreement (Pre-Nup)
Cohabitation Agreement
Separation or Divorce Agreement

It is a legally binding contract between married or de facto couples, including same-sex couples, that sets out how financial matters will be handled in the event of a relationship breakdown.

A BFA can be made:

Before marriage or moving in together (Pre-Nup)
During the relationship
After separation or divorce

This agreement covers property division, financial maintenance, and superannuation splitting, helping couples avoid costly and stressful court disputes.

Are Binding Financial Agreements Legally Enforceable?

Under the Family Law Act 1975, a Financial Agreement is legally binding only if the following conditions are met:

Both parties sign the agreement
Each party receives independent legal advice from a qualified family lawyer
Each party receives a signed statement from their lawyer confirming they have been advised on the benefits and risks
A copy of the legal advice statement is exchanged between the parties
The agreement has not been terminated or set aside by the court

If these conditions are not met, or if fraud, undue influence, or non-disclosure is involved, the Court has the power to declare the agreement invalid.

Why You Need Legal Advice for a Financial Agreement

A poorly drafted or incorrectly executed Binding Financial Agreement can leave you vulnerable to legal challenges. Having an experienced family lawyer ensures that:

✔ Your rights and interests are protected
✔ The agreement is legally enforceable
✔ You fully understand the advantages and disadvantages of signing the agreement
✔ Your agreement complies with Australian family law

The cost of obtaining expert legal advice is minimal compared to the financial and emotional toll of a court battle.

Why You Need Legal Advice for a Financial Agreement

Our Victoria-based family law experts provide personalised, practical legal advice to help you draft, review, or enforce a Binding Financial Agreement that stands up in court.

📞 Contact us today to arrange a confidential consultation and ensure your financial future is protected.

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We provide a number of set fees for standard conveyancing, wills and powers of attorney documents and 30 MINUTES FREE for all first appointments.

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[cs_content][cs_element_section _id=”1″ ][cs_element_layout_row _id=”2″ ][cs_element_layout_column _id=”3″ ][cs_element_headline _id=”4″ ][cs_content_seo]Family Law\n\n[/cs_content_seo][/cs_element_layout_column][/cs_element_layout_row][/cs_element_section][cs_element_section _id=”5″ ][cs_element_layout_row _id=”6″ ][cs_element_layout_column _id=”7″ ][cs_element_text _id=”8″ ][cs_content_seo]There is nothing more important than making sure your children are taken care of. We understand that it can be a distressing time securing their best interests and we want to help make this process easy on everyone involved. With expertise in complex family law matters and years of experience, we want to help you get the best result and feel supported during the process. We also offer advice on property disputes and asset separation. It is important to us that you know where you stand, and we want to make this happen. Our Family Law specialists at Chinka (HEP) Steel aim to provide you with the services you need in an easy-to-understand model. Let us make a complicated process, a simple one.\n\n[/cs_content_seo][cs_element_button _id=”9″ ][cs_content_seo]Download Family Law Children Brochure\n\n[/cs_content_seo][cs_element_button _id=”10″ ][cs_content_seo]Download Family Law Property Brochure\n\n[/cs_content_seo][/cs_element_layout_column][cs_element_layout_column _id=”11″ ][cs_element_image _id=”12″ ][/cs_element_layout_column][/cs_element_layout_row][/cs_element_section][cs_element_section _id=”13″ ][cs_element_layout_row _id=”14″ ][cs_element_layout_column _id=”15″ ][cs_element_headline _id=”16″ ][cs_content_seo]Get In Touch\n\n[/cs_content_seo][cs_element_button _id=”17″ ][cs_content_seo]Contact Us\n\n[/cs_content_seo][/cs_element_layout_column][/cs_element_layout_row][/cs_element_section][/cs_content]

[cs_content][cs_element_section _id=”1″ ][cs_element_layout_row _id=”2″ ][cs_element_layout_column _id=”3″ ][cs_element_headline _id=”4″ ][cs_content_seo]{{dc:post:title}}\n\n[/cs_content_seo][/cs_element_layout_column][/cs_element_layout_row][/cs_element_section][cs_element_section _id=”5″ ][cs_element_layout_row _id=”6″ ][cs_element_layout_column _id=”7″ ][cs_element_text _id=”8″ ][cs_content_seo]Married or de facto couples (including same-sex couples) have a right to make Financial Agreements about financial matters that are legally binding. Such an agreement (sometimes referred to as a Binding Financial Agreement, a BFA, a Pre Nuptial Agreement, a Pre Nup or a Cohabitation Agreement) can be made before, during or at the end of a relationship. A Financial Agreement is a written document which sets out what you and your partner have agreed to do with respect to financial matters (including property settlement, maintenance and Superannuation splitting) in the event of a breakdown of the relationship. A Financial Agreement does not have to be approved by a court- in fact, it is used in order to ensure that a Court cannot interfere with private arrangements made between two consenting individuals. \n\n[/cs_content_seo][/cs_element_layout_column][cs_element_layout_column _id=”9″ ][cs_element_image _id=”10″ ][/cs_element_layout_column][/cs_element_layout_row][/cs_element_section][cs_element_section _id=”11″ ][cs_element_layout_row _id=”12″ ][cs_element_layout_column _id=”13″ ][cs_element_text _id=”14″ ][cs_content_seo]The Family Law Act states that a Financial Agreement is binding on the parties to the agreement: if, and only if: (a) the agreement is signed by all parties; and (b) before signing the agreement, each party was provided with independent legal advice from a legal practitioner about the effect of the agreement on the rights of that party and about the advantages and disadvantages, at the time that the advice was provided, to that party of making the agreement (c) either before or after signing the agreement, each party was provided with a signed statement by the legal practitioner stating that the advice referred to in paragraph (b) was provided to that party (whether or not the statement is annexed to the agreement); and (ca) a copy of the statement referred to in paragraph (c) that was provided to a party is given to the other party or to a legal practitioner for the other party; and (d) the agreement has not been terminated and has not been set aside by a court. The Court can declare a Financial Agreement invalid if these conditions are not met, or if fraud or non-disclosure is involved. It is essential that you have an expert family lawyer advising you on Financial Agreements. The cost involved is insignificant compared to the future cost and stress of potential Court Litigation.\n\n[/cs_content_seo][/cs_element_layout_column][/cs_element_layout_row][/cs_element_section][cs_element_section _id=”15″ ][cs_element_layout_row _id=”16″ ][cs_element_layout_column _id=”17″ ][cs_element_headline _id=”18″ ][cs_content_seo]Get In Touch\n\n[/cs_content_seo][cs_element_button _id=”19″ ][cs_content_seo]Contact Us\n\n[/cs_content_seo][/cs_element_layout_column][/cs_element_layout_row][/cs_element_section][/cs_content]

Financial Agreements