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What’s the difference between Binding Financial Agreements and Prenuptial Agreements?

What’s the difference between Binding Financial Agreements and Prenuptial Agreements?

BFA Prenuptial Binding Financial Lawyer Difference Family Lawyer

Well?  No difference!!

One is the technical name and the other is the commonly used name.

Here in Australia, prenuptial agreements are binding financial agreements entered before the commencement of the marriage (or a de facto relationship).

Binding Financial Agreements are the more formal terminology that we use in Family Law.  BFAs are often mistakenly referred to as a prenuptial agreement or a prenup.

A prenuptial agreement (or ‘prenup’) is made before the parties are married, but is generally seen as an American term and not an Australian term.

The equivalent of a prenup in Australia is known as a Binding Financial Agreement.

The legislation here in Australia, does not make any reference to the phrase “prenuptial” to draw the distinction that binding financial agreements are a completely different concept.

For more information, see our other articles on Binding Financial Agreements (BFA’s) / Prenuptial Agreements.

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