Binding Financial Agreements

Specialist Legal Counsel for Asset Protection and Financial Certainty

A Binding Financial Agreement (BFA), often called a 'pre-nuptial' or 'post-nuptial' agreement, is a formal legal contract that allows parties to decide how their assets will be divided if a relationship ends.

At Somerville Laundry Lomax, our family lawyers have the technical expertise to draft and advise on these complex agreements, ensuring your financial interests are fully protected.

With decades of experience serving clients in Lismore, Ballina, Byron Bay, and Kyogle, we specialise in bespoke agreements for individuals with significant commercial interests, family trusts, inheritances, and complex corporate structures.

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Why a Binding Financial Agreement is Essential

A BFA provides a level of certainty that the standard court process cannot guarantee. By entering into an agreement, you can "contract out" of the property division provisions of the Family Law Act 1975, allowing for a predetermined and private resolution of financial affairs.

When Should You Consider a BFA?

Before Marriage or De Facto Relationship: To protect assets acquired prior to the relationship.
During a Relationship: To formalise financial arrangements as your asset pool grows or changes.
After Separation: To document a final property settlement without the need for court-filed Consent Orders.

The Requirements for a Valid BFA

For a Binding Financial Agreement to be legally enforceable, strict technical requirements must be met. If these are overlooked, the agreement may be set aside by the Court.

Written Agreement: The contract must be in writing and signed by both parties.
Independent Legal Advice: Both parties must receive independent legal advice from a qualified solicitor before signing.
Statement of Advice: Each party’s solicitor must provide a signed statement confirming advice was given.
Exchange of Certificates: These signed legal certificates must be exchanged between the parties.

How Our Specialist Lawyers Can Help You

Asset Protection Strategies: Tailored advice to safeguard inheritances, business interests, and family wealth.
Technical Drafting: Ensuring all legal formalities are met to minimise risk.
Comprehensive Disclosure: Assisting through the full and frank disclosure process.
Conflict Resolution: Managing negotiations to reach a fair outcome.

Take the Next Step Towards Financial Security

A properly drafted Binding Financial Agreement is an investment in your future peace of mind.

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Call us on 02 6621 2481

Frequently Asked Questions

Can a BFA be overturned by the Court?

While a BFA is designed to be final, the Court can set it aside under specific circumstances, such as a failure to disclose assets, evidence of fraud, or if a significant change in circumstances regarding children makes the agreement “unjust.” Our role is to ensure your BFA is as “bulletproof” as possible.

Is a BFA the same as a Pre-Nup?

“Pre-nup” is the common term used in the US, but in Australia, the legal term is a Binding Financial Agreement. They can be signed before, during, or after a marriage or de facto relationship.

Do both parties need their own lawyer?

Yes. It is a strict legal requirement for each person to have their own independent solicitor. This ensures there is no conflict of interest and that both parties fully understand the legal consequences of the contract.

Can we include pet custody in a BFA?

Yes. In 2026, many clients choose to include provisions for “companion animals” to determine who will care for the pet and how expenses will be shared, avoiding future disputes.

What Our Clients Say About Us

I want to thank your Company and in particular Cassandra Keogh for taking over my Family Law matter. Cassandra’s compassion along with her knowledge and expertise constantly helped put me at ease in finally settling my very messy matter. I would like to thank her for all the help she has given me and would highly recommend her to any future clients.

Pauline Horkings

Dear Sean,

Thank you for taking on my matter and managing it so well. I always felt you had my back and worked hard on my behalf.

I remain very impressed by the team and support staff you lead and can and will recommend your services.

Thank you again for your support and advice along the way.

Fondest regards,

B G

Dear Guy,

I am writing on behalf of the FNCRU Board to thank yourself and your organisation for your continued assistance in the conduct of the Board’s Judiciary meetings, in particular, in the usage of a venue for the conduct of such.

Support such as your own and that of your organisation is essential in the conduct of the business of the zone.

I would particularly commend the efforts of Cassie at our recent meeting last evening, my first in the capacity of a member of a judiciary panel in FNC.

Cassie’s input was not only reflective of your group’s support for FNCRU, but also reflective of your seriousness in support of the process in selecting someone with Cassie’s obvious knowledge of both sport and due process in such matters.

Yours in Rugby,

Jeffrey Brookes, For and on behalf of FNCRU Board FNCRU Board

We have been a client of this law business since the late 1990’s. We always get exemplary service from Guy Latham our solicitor. He has assisted us over the years with Agency agreements in business, with conveyancing on the sale and purchase of 4 properties and with Wills and other issues. Great service always.

Russell Lean

I just wanted to send through a big thank you to the team at Somerville, Laundry and Lomax for all the professional support throughout my compensation process. For me it was not an easy process to go through, being very personal and over 3 years in length. However, when I connected with SLL about 18 months ago the process did become a whole lot easy as I soon became aware that I had the right support.

I particularly want to commend Nathan Job to you (who you originally introduced me to). It is my opinion that Nathan went above the scope of what was required of him professionally and I really felt personally taken care of by Nathan, which would be why I would recommend your firm in the future. He is a very genuine guy who instilled confidence in me throughout the entire process and who always gave honest and wise feedback about the various scenarios we were facing, while allowing me to make all the decisions.

Thank you again and much appreciated.

Carolyn

A huge thank you to Ben Crawford and Sue for the outstanding effort that was required to resolve my Family Court matters.

Your patience and excellent advice have been greatly appreciated throughout this long, unfortunate process and it is wonderful that finally the desired outcome has been realised.

I had a great experience with Somerville Laundry Lomax Solicitors. They were helpful, efficient, and kept clear communication throughout, settling my claim quickly. Special thanks to Izaac and Elizabeth for being so friendly and supportive. I’d definitely use their services again if needed. Highly recommend!