Law Blog

If you're considering entering into a Binding Financial Agreement with your de facto patner (also known as a Cohabitation Agreement or a De Facto Partnership Agreement amongst other things) you should also consider the following list of questions. Also remember that same sex couples are covered by the relevant provisions of the Family Law Act 1975 (Cth) just like everybody else, so read on!

• What do you hope to achieve by entering into a Binding Financial Achievement ("BFA") with your partner?
• Do you feel confident of your ability to explain to your partner that a BFA is to protect your relationship by creating certainty rather than to put extra strain on it?
• Was entering into a BFA your idea or your partner's or somebody else's?
• What is your annual income? What about your partner?
• Do you or your partner have any health issues?
• Do you and your partner have/ care for any children?
• Is the BFA intended to deal with particular property (a car, a house etc) and if so, do you have information to specifically identify this property, such as a real property description for a house and an engine number for a car?
• Do you and your partner share living expenses?
• Do you and your partner have any mutual financial committments or investments?
• Do you or your partner expect to receive an inheritance in the future?
• Do you and your partner live together?
• Do you and your partner have wills and powers of attorney?

There are other considerations that a qualified legal practitioner can take you through, but this list is a good starting point.

Remember that if you take the time to consider your situation (using a list such as above as a guide) before you see a lawyer, chances are your legal fees will be dramatically reduced, as your lawyer won't have to spend time walking you through issues you are already familiar with and already have information at hand for.

Although we are Brisbane solicitors, we can help you wherever you are, so don't hesitate to contact us if you would like to learn more about how you can protect your relationship with a Binding Financial Agreement.

This website contains general information only. This site does not contain any legal advice. If you require legal advice, contact an Australian Legal Practitioner.