Binding Financial Agreement - Indpendent Legal Advice
Every Binding Financial Agreement must include a certificate of independent legal advice in order to be valid and binding. This requirement is stipulated under section 90G(1) of the Family Law Act, which provides that a financial agreement is binding on the parties to the agreement if, and only if:
- before signing the agreement, each party was provided with independent legal advice from a legal practitioner about the effect of the agreement on the rights of that party and about the advantages and disadvantages, at the time that the advice was provided, to that party of making the agreement;
- either before or after signing the agreement, each spouse party was provided with a signed statement by the legal practitioner stating that the legal advice was provided to that party.
Fixed fee for certificate of legal advice
Bainbridge Legal Family Lawyers Parramatta offers a fixed fee service for advising on binding financial agreements. This fixed fee covers all of the following work:
- reading and considering the draft binding financial agreement
- taking instructions on the history of the relationship, the extent of each party's contributions and their future needs
- provide a written advice on the BFA drafting, including the advantages and disadvantages of the binding financial agreement
- providing a signed certificate of legal advice
- attending to execution and witnessing of the financial agreement
Call us today to book an appointment with one of our expert family law solicitors. Our Parramatta family lawyers have capacity to advise on binding financial agreements on an urgent basis if required.