Binding Financial Agreements: Worth the piece of paper they're written on? Your client is getting married and you don’t know how to broach the idea of a Binding Financial Agreement (BFA) or exactly what a BFA can achieve for your client. Think about how hard it might be for your client to raise it with their future spouse, and how you can help by understanding the process, risks and benefits. By getting on the front foot, you can help your client protect their assets, and it may be your prompt that enables your client to begin the conversation with their future spouse. While everyone wants to think their marriage or de facto relationship is forever, the facts don’t support that. There are more than 50,000 divorces a year in Australia compared with 110,000 marriages, and there are many other informal living arrangements that can be legally treated as a marriage. To help you to understand BFAs (or pre-nups as the Americans title them) a little more, we’ve enlisted the services of leading family lawyer Daniel Myers. Daniel does BFAs for a living; he knows the ins and outs and will talk us through • When a BFA might be appropriate? • When will be a BFA be binding? • Practical issues and challenges surrounding BFA

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