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When Can a Financial Agreement Be Set Aside in Australia?
Under s 90K Family Law Act 1975, Australian courts can set aside a BFA for procedural defects, vitiating factors, child hardship, or uncertainty.
Read MoreFinancial Agreements
We draft and certify prenuptial, postnuptial, and separation agreements that withstand legal scrutiny.
Every family law matter is unique. We take the time to understand your goals, explain your options in plain language, and develop a strategy that protects both your rights and your wellbeing.
We draft and certify binding financial agreements that anticipate future contingencies, liaising with accountants and financial planners to deliver tax-efficient, enforceable arrangements.
Principal Lawyer
Lingyu (Gloria) Zhao
Principal Family Lawyer
Gloria Zhao is an Australian-qualified family law solicitor with over eight years of experience guiding clients through complex property, parenting and cross-border disputes. She has acted in more than 1,600 matters and is known for strategic, results-driven advocacy.
Beyond the courtroom, Gloria is committed to legal education. She regularly creates bilingual family law content to help the community understand their rights and make confident decisions.
Common Questions
What is a Binding Financial Agreement (BFA)?
A BFA is a private contract between parties to a relationship that deals with how property will be divided if the relationship ends. It can be made before, during, or after a relationship.
What makes a BFA legally binding?
Both parties must receive independent legal advice, each lawyer must sign a certificate confirming advice was given, and the agreement must not be obtained through fraud, duress, or unconscionable conduct.
Can a BFA be challenged or set aside?
Under FAMILY LAW ACT 1975 - SECT 90K, a BFA can be set aside if obtained by fraud, if a party failed to disclose material information, if it's void or unenforceable, or if circumstances have changed making enforcement impracticable.
What's the difference between a BFA and Consent Orders?
A BFA is a private agreement without court approval, while Consent Orders require court approval. Consent Orders are generally harder to set aside and provide more certainty.
Do both parties need their own lawyers?
Yes, each party must receive independent legal advice from their own lawyer before signing a BFA for it to be binding.
Can a BFA include provisions about children?
No, a BFA can only deal with financial matters. Child custody and parenting arrangements cannot be included in a BFA.
When should I consider getting a prenuptial agreement?
Consider a prenuptial agreement if you have significant assets, a business, expected inheritance, or children from a previous relationship you want to protect.
Can a BFA be changed after it's signed?
Yes, parties can agree to terminate or vary a BFA by entering into a new agreement. The same requirements for independent legal advice apply.
What assets can be covered in a BFA?
A BFA can cover real estate, bank accounts, investments, businesses, superannuation, vehicles, personal property, debts, and future assets.
Does a BFA protect against Family Provision Claims?
No, a BFA cannot prevent eligible persons from making claims under succession law. Estate planning requires separate consideration.
How long does it take to prepare a BFA?
Typically 2-4 weeks depending on complexity. Both parties need time to obtain independent legal advice and review the agreement.
What happens if we don't have a BFA?
Without a BFA, property division will be determined by negotiation or the court applying the principles in the Family Law Act.
Can a BFA cover spousal maintenance?
Yes, a BFA can include provisions for spousal maintenance, including waiving any claims to spousal maintenance.
Is a BFA still valid if we reconcile and separate again?
It depends on the terms of the BFA. Some agreements only cover the first separation, while others may cover subsequent separations. This should be clearly specified in the agreement.
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