Document background
A Couple Prenup, officially termed a Binding Financial Agreement (BFA) in Australia, is a crucial document for couples planning to marry who wish to establish clear financial arrangements in advance. This agreement is governed by the Family Law Act 1975 and must meet specific legal requirements to be enforceable. It should be prepared well before the marriage and requires both parties to receive independent legal advice. The document typically includes comprehensive details about each party's assets, liabilities, and financial resources, provisions for property division in case of separation, and arrangements for financial maintenance. It's particularly important for individuals with significant assets, business interests, expected inheritances, or those entering second marriages with existing financial obligations. The agreement must comply with strict statutory requirements and recent case law developments in Australian family law.
