Binding Financial Agreement (BFA) part 2 | JCL Legal Sydney

Good Morning

Sometimes it is said that love is blind – Binding Financial Agreement (BFA)

I have been requested to follow up on my previous newsletters regarding BFA’s. Statistics reveal that one of the primary sources of marriage failure resides with financial matters. Many couples are coming together later in life or with blended families with assets accumulated by their hard work prior to the meeting. To ensure that a relationship is not disturbed by the concerns of children or the fears of loss I believe that it is essential to consider the protection of assets gained prior to a relationship be protected. If you are commencing a new relationship either by way of a de facto relationship or by marriage, you are able to protect these assets with a Binding Financial Agreement (BFA). A BFA can be made before, during or after a marriage or de facto relationship. The Family Court is a court of fairness and any application to vary a BFA starts from the position that a BFA is a binding contract and will not disturb it unless there are extenuating circumstances. There are several circumstances that will persuade a court to vary a BFA. To make a decision, the court will examine the particular circumstances. Such matters would include whether the needs of the children of the relationship are properly provided, whether there is a special need of one party or whether fraud or coercion has resulted in the signing of BFA. I recommended that you have a BFA for the following reasons: a. To protect your assets in the event of any breakdown; b. To provide clarity for any children from your prior relationships; c. To provide a clear understanding of each other to prevent any future misunderstandings regarding your financial affairs. It should be noted that the legislation does not provide for amending a BFA. However, a BFA may be terminated on its own or replaced with a new BFA. In both cases, each party must be provided with independent legal advice. I have assisted many clients to draft BFA’s to ensure sensitivity and compliance with legislation. Your BFA must faithfully reflect your situation and future financial position. If either you or anyone you know would like to discuss this matter, please do not hesitate in contacting me. Have a wonderful day, Jeffrey 0419 233 670 [email protected] Please click to see more HERE. ps. I am available to discuss matters either in my office or by Zoom conference and provide notary services which must be in person.
早上好

有些时候人们说爱情是盲目的——有约束力的金融协议（BFA）

我根据要求再次阐述我以前的时事通讯中提及过的有约束力的金融协议（BFA）。 统计数字显示，婚姻失败的主要原因之一在于经济问题。许多夫妇在晚年才走到一起，或是在他们相遇前已经通过辛勤工作积累了一定的资产。为了确保一段关系不被对孩子们的担忧或对可能造成的经济损失的恐惧所干扰，我认为有必要考虑在一段关系开始之前保护自己的资产。如果你刚开始一段新的感情，无论是事实同居或结婚，你可以通过一个有约束力的金融协议（BFA）来保护这些资产。 BFA可以在婚姻或事实关系之前、期间或之后进行。家庭法院是一个公平的法院，任何想改变有约束力的金融协议（BFA）的申请，必须以有约束力的金融协议 (BFA) 是一份有约束力的合同为前提，它不会受任何情况的干扰，除非有特殊的情有可原的情况。有以下几种情况可以说服法院更改有约束力的金融协议（BFA）。法院将根据具体情况作出裁决。这些问题将包括是否满足了双方共同子女的需要，是否有一方有特殊的需要，或是否因欺诈或胁迫导致签署了有约束力的金融协议（BFA）。 我建议你建立一份有约束力的金融协议（BFA），原因如下： a、 在发生关系破裂时保护您的资产； b、 为你之前关系中的孩子提供清晰的信息； c、 提供一个清楚的相互理解，以防止未来任何关于您的财务的误解。 应该指出的是，立法没有提供修改有约束力的金融协议（BFA）。但是，有约束力的金融协议（BFA）可以自行终止或被新的有约束力的金融协议（BFA）所替代。在这两种情况下，必须向每一方提供独立的法律意见。 我曾协助许多客户起草了有约束力的金融协议（BFA），以确保敏感性和遵守法律的规定。有约束力的金融协议（BFA）必须如实反映你的情况和未来的财务状况。如果您或您认识的任何人想讨论此事，请随时与我联系。 祝您有愉快的一天， 蔡福榮 Jeffrey 0419 233 670 邮箱：[email protected] 请单击此处查看更多信息 另外，我可以在办公室或会议上讨论问题；以及公证服务必须当面进行。

If you or anyone you know needs assistance regarding Binding Financial Agreement (BFA) or Prenups in Sydney, NSW, please have them contact JCL Legal so that I can discuss their particular requirements with them.