Document background
A Prenup For Domestic Partnership, formally known as a Binding Financial Agreement (BFA) in Australia, is essential for couples entering into or already in a de facto relationship who wish to protect their assets and establish clear financial arrangements. This document is governed by the Family Law Act 1975 and must meet specific legal requirements to be enforceable in Australian courts. It should be prepared before cohabitation or during the relationship, detailing the division of property, financial support, and handling of assets in case of separation. The agreement requires both parties to receive independent legal advice, provide full financial disclosure, and understand their rights before signing. It's particularly important for partners with significant assets, business interests, expected inheritances, or those entering subsequent relationships.
