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Nadia McLeod from RPMRE Legal Kits explains that a prenuptial agreement, often referred to as a prenup, is a contract between two parties intending to marry, detailing the division of property and assets if their relationship ends. In Australia, the term "prenuptial agreement" is not used by the family court; instead, individuals create a Binding Financial Agreement (BFA) at any stage of a relationship, including before, during, and after separation, as well as for de facto relationships. For a prenup to be valid in Australia, it must comply with Section 90G of the Family Law Act, and it is typically drafted by a local lawyer, containing specific information about both parties, their assets, and divorce asset distribution plans.
