BFA – Binding Financial Agreement – What, Who, Why & How in Australia

A BFA or Binding Financial Agreement is a powerful legal tool that allows couples to take control of financial matters.

Whether you’re entering a new relationship, already living together or separating/divorcing, a BFA helps you agree on how your property, finances and debts will be handled now or down the track, without the intervention of the court.

Our professionally drafted BFA kits make it simple and affordable to put a legally binding plan in place – saving you time, stress and thousands in legal fees.

What Is a BFA?

A BFA is a private agreement made under the Family Law Act 1975 or Family Court Act 1997 for de facto relationships in western Australia. It sets out how assets, liabilities and financial resources will be divided if the relationship breaks down.

A BFA can be made:

• Before a de facto relationship or marriage (aka a prenup)
• During the relationship
• After separation or divorce

Before Relationship During RelationshipAfter Relationship

Who Needs a Binding Financial Agreement?

Whether you’re starting a relationship or ending one, a Binding Financial Agreement helps set out how assets, debts and property will be divided. A BFA can benefit:

• Couples entering a relationship who want to protect existing assets or manage financial risk;
• Partners wishing to quarantine debt or keep finances separate;
• People safeguarding inheritances or family wealth for children from previous relationships;
• Property or business owners wanting to ring-fence valuable assets;
• Couples separating or divorcing who want to privately settle property, superannuation, and financial matters without going to court;
• Anyone seeking clarity and peace of mind about how assets and liabilities will be divided if the relationship ends.

It’s not about mistrust between the parties – it’s about clarity, fairness and protecting everyone’s interests. Think of it like an insurance policy for your financial property.

Why Make a BFA?

A Binding Financial Agreement allows you to:

• Avoid the uncertainty and cost of going to court if the relationship breaks down;
• Decide for yourselves what’s fair, rather than leaving it up to a judge;
• Protect specific assets, like a home, business, or inheritance;
• Reduce conflict by having a clear plan in place;
• Maintain privacy, as the agreement doesn’t need to be lodged with a court.

When Should You Make a BFA?

Anytime. You can enter into a BFA:

• Before starting a relationship or moving in together
• During the relationship,
• After separation, to formalise how property and finances will be divided

Our kits are tailored for each of these stages, so you can choose the agreement that suits your situation.

Where Do BFAs Apply?

BFAs are recognised across all Australian states and territories, and apply to both married and de facto couples, including same-sex relationships.

The BFA itself is drafted according to particular sections of the Family Law Act depending on your relationship type and stage. For example, prenups are made under Section 90B, a BFA for de facto couples who are living together is made under Section 90UB. There’s no need to worry about this though, because our kits are drafted to comply with the legislation – all you have to do is pick the agreement that describes your situation.

If you’re in Western Australia, slightly different rules apply under the Family Court Act and we’ve got you covered there too.

How Do You Make a BFA?

To create a valid and enforceable BFA, you need to:

1. Use a professionally drafted template that complies with the Family Law Act 1975 or the Family Court Act 1997
2. Disclose all assets, liabilities, and income to each other honestly
3. Receive independent legal advice – this is essential to make the agreement legally binding
4. Sign the agreement, with each party’s lawyer providing a certificate confirming they’ve given the required advice

Our BFA kits include:

• Professionally drafted Word templates (easy to edit)
• Clear, plain-English instructions
• Access to our Fixed Price Legal Review Service, so both parties can get the independent legal advice they need over the phone and email, without any  hidden fees or bill shock.

Explore Our Financial Agreement Kits Now 

Before Relationship During RelationshipAfter Relationship

What Does a BFA Cost?

Hiring a lawyer to draft a financial agreement from scratch can cost anywhere from $3,000 to $10,000+ depending on complexity of your financial arrangements.

But you can save thousands of dollars by using our financial agreement kits – just $147 and taking advantage of our Fixed Price Legal Review Service at $3,250 which covers both parties.

With our DIY BFA Kits, you get:

• Professionally written legal templates
• Step-by-step guidance
• Optional fixed-price legal review service

All for a fraction of the cost .

This gives you the same legal protection, without the traditional expense or drawn-out process.

Can I Do a Financial Agreement Myself?

Absolutely, as long as you use the right tools and follow the correct process, you can handle most of the work yourself.

That’s exactly why we created our Binding Financial Agreement Kits; to make it possible for everyday Australians to:

• Take control of their property settlement
• Avoid unnecessary legal costs
• Stay compliant with Australian law

With our kits, you’re not doing it alone. You’re guided step-by-step, and our fixed-price legal review service ensures your agreement is valid and enforceable.

Ready to Protect Your Future?

Get started with our Binding Financial Agreement Kits today and avoid the uncertainty, cost and complexity of traditional legal services.

Explore Our BFA Kits Now

Before Relationship During RelationshipAfter Relationship