Financial Agreements Mediation — private, binding, lawyer-proof.

What is a binding financial agreement?

A BFA is a contract between partners that sets out how their property and financial affairs are to be divided. It's a creature of the Family Law Act 1975 — sections 90B–90KA for married couples, 90UB–90UM for de facto couples — and when properly executed, it's binding without ever needing court approval.

People often call them "prenups" but BFAs come in three forms (covered below), and the term is much broader than the pre-wedding contract most people picture.

When BFAs make sense

BFAs work particularly well when:

• One or both partners is entering a relationship with significant existing assets
• There's a family business, trust, or inheritance that needs to be quarantined
• Both partners want certainty about what happens financially if the relationship ends
• You want to avoid court involvement entirely — even the paperwork-only consent orders process
• Speed matters — BFAs can be finalised in days once the legal advice is done, vs weeks for consent orders

They don't suit every situation — BFAs can't cover parenting arrangements, and there are circumstances where consent orders are the safer choice. See BFA or consent orders →

Three types of BFA

The Family Law Act creates three distinct moments at which a BFA can be made:

1. Before the relationship (s 90B / s 90UB) — the "prenup". Made before marriage or before moving in together, setting out what would happen on separation.
2. During the relationship (s 90C / s 90UC) — sometimes called a "postnup". Made while you're together, for example to formalise the arrangement after acquiring a major asset or inheritance.
3. After separation (s 90D / s 90UD) — finalising a settlement without going through consent orders.

All three are binding contracts. The legal requirements are essentially the same; what differs is the timing and the financial situation being captured.

What makes a BFA binding

This is where BFAs are won or lost. The legislation imposes strict formal requirements:

• Independent legal advice for both parties — each party must receive advice from their own lawyer, on the effect of the agreement and whether it's advantageous or disadvantageous.
• Statement of legal advice — each lawyer signs a statement confirming the advice was given.
• Both parties must sign — with the statements attached.
• The agreement must be in writing — obviously, but also: it must cover the right matters and be drafted precisely.
• No legal incapacity, duress, fraud or undue influence — the agreement must be entered freely.
• Proper disclosure — each party should fully disclose their financial position. Hiding assets is a route to having the agreement set aside.

How we build yours

1. Initial consultation — we understand what you want the BFA to do, and confirm it's the right instrument for your situation.
2. Disclosure — full and frank financial disclosure between the parties.
3. Mediation on the substance — working through the terms together, building the agreement everyone can live with.
4. Drafting — translating the agreement into precise legal language.
5. Independent legal advice — each party obtains advice from their own lawyer. We can refer to appropriate independent lawyers if needed.
6. Signing — with the legal advice statements attached.
7. Done — the BFA is binding from signing. No court involvement.

BFA vs consent orders

The choice between a BFA and consent orders is one of the most common questions we get. Both can make a financial settlement binding, but they work differently:

BFA vs consent orders

	BFA	Consent orders
Court involvement	None	Reviewed and approved
Independent legal advice	Required for both	Recommended but not required
Privacy	Completely private	Filed with the court
Speed to finalise	Days once advice is done	4–8 weeks court processing
Cost	Higher (two sets of legal advice)	Lower per party (filing fee shared)
Covers parenting?	No — financial only	Yes
Risk of being set aside	Slightly higher	Very low

In general: BFAs offer privacy and speed; consent orders offer maximum legal certainty. We help you choose based on your specific situation. See consent orders →

The risks to avoid

BFAs that get set aside almost always fail for predictable reasons:

• Inadequate legal advice — cursory advice, or advice that didn't cover the right matters. Get the advice properly.
• Incomplete disclosure — one party hid assets or income. The agreement is built on a false picture.
• Duress or undue influence — one party was pressured, or signed under time pressure (the classic wedding-eve prenup).
• Vagueness in drafting — unclear terms invite later argument. Precise drafting matters.
• Material change of circumstances — some BFAs are set aside where circumstances change so radically that enforcing them would be unconscionable.

Getting started

The first step is a free initial consultation. We'll listen to your situation, assess whether a BFA is the right instrument (vs consent orders or another path), and outline the process and timeline. If you proceed, we mediate the substance, handle the drafting, and ensure the formal requirements are met so the agreement actually holds.