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family law

Binding Financial Agreement

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Binding Financial Agreement Lawyers on the Gold Coast

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A Binding Financial Agreement (BFA) is a legally binding way to safeguard your assets and avoid the potential emotional cost of a relationship breakdown. Avoid property disputes whether you’re moving in together, married or in a defacto relationship. By agreeing to divide your assets (property) and liabilities (debts) in the event of separation or death you are entering into a contract that formalises future arrangements. Whether it’s your property, savings or important possession assets, we can help safeguard you from future disputes.

A Financial Agreement or prenup can provide clarity of thought and intentions. Its like having an insurance policy that protects you and your partners rights. We’ll handle the mountains of paperwork and so you can focus on the people in your life.

Why have a Binding Financial Agreement?

A Binding Financial Agreement, or BFA, is a legal agreement couples can make before moving in together, when they’re married or in a de facto relationship or at the end of a relationship. It’s the ultimate blueprint that sets out how your cash, property, and assets will be split if you decide to go your own ways.

You might’ve heard of them being referred to as “pre-nups” or “post-nups.” They’re now considered beneficial for couples with major assets, debts or children from previous relationships who want to protect what’s rightfully theirs.

But here’s the lowdown: for a BFA to be legally binding, both parties have to have independent legal advice and acknowledge that they are each aware of their rights and obligations under the agreement.and the agreement’s got to be in writing and signed by both parties.

With over four decades of experience in helping couples reach agreement Arcuri Turnbull Law knows how to navigate all range of scenarios when it comes to Financial Agreements.

Our Simple Process:

One

Get in touch with Arcuri Turnbull Law

Talk to us about your circumstances and what you are hoping to achieve. We have some excellent tools to support the collation of information. This ensures you fully grasp the legal ins and outs of the agreement and that it's right for you. This is also a good time to discuss the proposed agreement with your partner. This is a two-way document so both parties need to be on board. Early conversation about what is fair and reasonable and your expectations and goals go a long way to working out differences early and avoid costly arguments down the track.

Two

Share the knowledge

Both parties have to lay it all on the table and provide full disclosure of their assets, debts and financial resources. We're talking about income, property, investments and any other financial position that's relevant to the mix. Our family lawyers will summarise your position and are happy to work with your accountants and financial advisors to ensure smooth information flow.

Three

Craft that agreement

We'll cover all the details like how your solely and jointly owned assets will be divided, how liabilities will be dealt with and any financial resources (trusts or indirectly owned assets) will be treated if you separate. We will carefully explain the advantages and disadvantages of the agreement for you and discuss opportunities for improving your position. Your partner’s lawyer must verify the financial disclosure and review the terms of the agreement, and then advise your partner on the advantages and disadvantages for them in entering into the agreement. As part of this process, it is common for your partner’s lawyer to want some amendments to be made to the agreement.

Four

Sign on the dotted line

Once we confirm the document complies with all the requirements of the Family Law Act and you are comfortable with the terms of the agreement, it's time to put pen to paper. Just remember, both parties need to sign the BFA in front of a witness who isn't involved in the agreement, ideally both parties' lawyers.

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The team you can trust

When it comes to Family Law we understand your needs like no others. Our mission is simple: to deliver the best outcomes for everyone involved while ensuring the process is efficient and stress-free. We’re all about solutions, keeping it real, and communicating with you every step of the way through your journey.

Flexibility and accessibility are our forte. We can speak with you no matter where you’re at – over the phone, through virtual hangouts, or visiting us in person at our office.

The choice is yours, but choose wisely

When you work with Arcuri Turnbull Law, you’re not just another case file. Our mission is to cater to your individual and business legal needs, not just for the moment, but for the long haul. We’re your partners in crime, and together we’ll conquer the legal universe, considering every aspect, from the big picture to the tiniest of details.

Book An Appointment

Ready to take the next step and start the conversation about Binding Financial Agreements? Then contact us today!

What truly stands out is the staff’s unwavering helpfulness and consideration. They take the time to understand our specific needs and tailor their services accordingly, providing a personalised experience that makes us feel valued and supported.

Nassim S.
Gold coast

Great legal work on our settlement. Plenty of communication and dealt with very professionally. Would use again for sure!

Andrew P.
Gold coast

Very efficient and knowledgeable and communicated with us regularly to achieve the best possible outcome.

Nick R.

Arcuri have dealt with all matters we have engaged them to handle, some quite complex. Excellent conveyancing services and outstanding legal advice from Lionel and Mick. Thorough, friendly and accessible throughout all processes.

Suzi C.

Arcuri Turnbull law have help my family and I with both conveyancing issues and Estate matters for a number of years.
They have always made the process, no matter what the issue, as stress free and as positive as possible. Glenda and Lionel are a fantastic team.

Helen J.

We had a great experience with Arcuri Turnbull Law who took care of the conveyancing in the purchase of our new home. This was our first home on the Gold Coast, and our first in Queensland for 13 years, and they made the process easy for us. Always friendly and helpful and very efficient.

Penelope G.

For approximately the past 10 years, I have chosen Arcuri Turnbull Law for all of my Legal matters, including the conveyancing and settlement of numerous property sales and purchases, and the formation of my Will.
I have always found them to be extremely helpful, knowledgeable, professional and approachable.
Their personalised service is outstanding, and I never feel like “just a number!”
I always feel assured that they are doing their utmost to assist me from a legal perspective, whilst at the same time offering me reassurance and instilling confidence.
Aimee is a pleasure to deal with, and her incredible knowledge base and interpersonal skills are an asset to Arcuri Turbull Law.
Lionel has also been extraordinary, and in more difficult situations has offered his expert legal advice and intervened where necessary to achieve the desired and best outcome.
From the moment I make contact with Arcuri Turbull Law, to the finalisation of the Legal Matter involved, I am always very satisfied with their high level of integrity, professionalism and the delivery and provision of exceptional legal advice and services.
I highly recommend Arcuri Turbull Law for all Legal matters.

Joanne P.

I can’t recommend Aimee and the team at Arcuri Law enough! Using Aimee to help with the sale of my first property has been a real pleasure, putting up with all my phone calls, nothing has ever been too much. Really appreciated their help and can’t recommend them highly enough! Will definitely be using them again!

Andrew B.

Glenda at Acuri Turnbull is fabulous, she set up my will efficiently, it was a pleasure talking to her, I highly recommend her services.

Michelle P.
Frequently Asked Questions

Property division during a Divorce or Separation is governed by the Family Law Act 1975. If the parties have reached an agreement about dividing the property pool, you can document your agreement via Consent Orders or a Financial Agreement in accordance with the Family Law Act 1975. If you and your partner cannot reach an agreement about the property division, you can make an application to the Court for orders.

Consent Orders and Binding Financial Agreements are both ways of settling property and financial matters between parties in a family law dispute. Consent Orders are approved by the court and are more final, while BFAs are private agreements between parties that are not approved by the court and are more flexible. For Consent Orders, the parties must file an application with the court and provide full financial disclosure. The court will then consider the orders and, if they are satisfied that they are fair and reasonable, approve them. For BFAs, parties must obtain independent legal advice and sign the agreement in the presence of their legal practitioner.

By creating a parenting plan which sets out the arrangements for parenting and visitation. The plan should cover issues such as where the children will live, how much time they will spend with each parent, and how major decisions will be made. It’s important to make sure the plan is in the best interests of the children.

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