Why You Need Lawyers for a Binding Financial Agreement

Some things – like writing a Will – don’t need to be done by a lawyer, but an experienced family or commercial lawyer is essential to create a Binding Financial Agreement (BFA) between two parties that is considered legal. Unfortunately, the breakdown of relationships these days is a common occurrence, so couples often make such an agreement before the marriage in order to protect their assets.

So if you are going to do this there will need to be not one, but two lawyers involved; one to act on your own behalf and one to act on behalf of your fiancée. Each one has to give their client – you and your fiancée – separate legal advice and they then have to sign a Certificate saying that they did so. Without these Certificates, the BFA will not be legally enforceable. Each party must be given a copy of both Certificates.