Many couples think of a Binding Financial Agreement (BFA) as a pre-nup, but it is much more than just that. Usually drawn up by a family lawyer, a BFA can be entered into at any stage of a relationship; before, during or after a marriage or de-facto relationship is entered into. If you were wondering what benefits such an agreement has, here are some of them.
- When a BFA is drawn up when a couple are still happy, either before or during a relationship, it is highly likely to contain elements that are reasonable and agreeable to both parties. So if the relationship then fails, there is no need for either party to worry about whether it is fair or just.