Prenup Lawyers
Prenuptial Agreements in Dandenong: What You Should Know
Starting a relationship with openness and security in mind can help avoid future disputes. In Australia, couples can enter into legally binding agreements—commonly called prenups, or Binding Financial Agreements (BFAs)—to clarify how their finances and assets will be handled in the event of a separation.
This guide explains how prenups work, when to consider one, and what Dandenong couples need to know to ensure their agreement is legally sound.
What Is a Binding Financial Agreement?
A Binding Financial Agreement (BFA) is a legal contract made under the Family Law Act 1975. It outlines how property, superannuation, debts, and spousal maintenance will be divided if the relationship breaks down.
- A BFA can be created at different stages:
- Before a marriage or de facto relationship begins (often called a “prenup”)
- During a relationship
- After separation or divorce
Why Consider a Prenup?
- A prenup provides clarity and protection. It can:
- Define who owns what at the start of the relationship
- Protect inheritances or family wealth
- Clarify how joint assets will be divided
- Minimise the risk of drawn-out legal disputes in the future
- Offer peace of mind for both partners
Prenups are commonly used by people entering a second marriage, those with children from a previous relationship, or where one party has significantly more assets.
Legal Requirements for a Valid Agreement
- For a prenup or BFA to be legally binding, it must meet specific legal requirements:
- Independent legal advice – Each party must receive legal advice from a separate lawyer before signing.
- Full financial disclosure – Both parties must provide an honest and complete summary of their assets, debts, and financial circumstances.
- Properly drafted and signed – The agreement must be in writing, signed by both parties, and include signed certificates from the lawyers confirming advice was given.
- No pressure or duress – The agreement must be entered into voluntarily. Pressure to sign (such as right before a wedding) can lead to a challenge later.
What Can a Prenup Include?
- A Binding Financial Agreement can cover:
- How to divide property and assets if you separate
- What happens to debts
- Superannuation interests
- Whether spousal maintenance will be paid, and if so, how much and for how long
However, parenting arrangements and child support cannot be determined in a prenup. These matters are handled separately under family law and must always prioritise the best interests of the child.
How to Create a Prenup in Dandenong
- The general process includes:
- Initial discussion between partners about the need for a financial agreement
- Exchange of full financial disclosure
- Lawyer drafts the agreement in accordance with both parties' intentions
- Each party receives independent legal advice
- Agreement is signed and witnessed, with legal certificates attached
- It’s important to start this process early. If the agreement is signed under time pressure—especially just before a wedding—it may be vulnerable to being set aside later.
Can a Prenup Be Challenged?
- Yes, a prenup or BFA can be overturned by the court in certain circumstances, including:
- Lack of full disclosure
- One party was pressured or misled
- The agreement is deemed unfair or unconscionable
- Requirements around legal advice or formalities weren’t met
- That’s why working with experienced lawyers and ensuring fairness on both sides is critical.
Frequently Asked Questions (FAQs)
No. While people with significant assets often use them, anyone who wants to define financial boundaries or avoid future disputes can benefit from a BFA.
Yes. De facto couples have the same legal right to create Binding Financial Agreements as married couples.
You can create a new agreement to replace the existing one or amend the terms, provided both parties agree and follow the correct legal process.
Yes—provided all legal requirements are met. Poorly drafted or rushed agreements, however, can be successfully challenged.
A prenup is not about expecting your relationship to fail—it’s about planning responsibly. It can protect both partners, promote honest conversations about finances, and offer peace of mind.
If you’re living in or around Dandenong and thinking about entering into a financial agreement, seeking proper legal advice is the best place to start. A carefully drafted and fair agreement can provide certainty no matter what the future holds.