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How much does it cost to do a BFA?

A correctly prepared BFA provides: However, the cost of getting a Binding Financial Agreement is often a sticking point for many people. Stereotypically, BFAs are expensive, ranging anywhere from $4000 to $6000 or more.

Can I draft my own BFA?

It is paramount to work with experienced legal professionals when drafting and finalising a BFA to ensure its validity and enforceability.

How to create a binding financial agreement?

A Financial Binding Agreement must meet the following requirements in order to be binding, namely: Be in writing. Specify whether it is made under Section 90B, Section 90C, Section 90D, Section 90UB, Section 9UC or Section 90UD. Be signed by both parties.

Is a BFA the same as a prenup?

Binding Financial Agreements are the more formal terminology that we use in Family Law. BFAs are often mistakenly referred to as a prenuptial agreement or a prenup. A prenuptial agreement (or prenup) is made before the parties are married, but is generally seen as an American term and not an Australian term.