Prenups and BFAs
A prenup is a powerful way to know where you stand. Movement Legal can help protect you and your legacy.
What is a Prenup?
A Prenup is an agreement that outlines the financial arrangements of both members of a couple, offering a clear roadmap for dividing assets, debts, and financial resources in the event the relationship comes to an end.
The Prenup Process
Step 1
Consider all Assets
After assigning you to one of our lawyers, we will look at all assets - both current and future.
Step 2
Model Options
Our lawyers will workshop different outcomes and divisions with you.
Step 3
Independent Legal Advice
The other party is presented with the Agreement, and must receive their own legal advice.
Step 4
Legal Finalisation
Our lawyers will execute the agreement, at which point it takes force.
Reviewing a Prenup or BFA
Need to have a prenup reviewed?
If your partner has presented you with a prenup to review and sign, then Movement Legal can act as the law firm to provide you with independent legal advice.
We can do this on a fixed fee basis, and our standard turn around time is 7 days.
Our Prenup Package
Prenups are also known as Binding Financial Agreements (BFAs). They are growing in popularity as people are frequently entering relationships with existing assets, as well as a more realistic view on the length of serious relationships in today's world.
While a prenup can be viewed as unromantic, it does allow a couple to have frank discussions with each other about their wealth and future, and can present a way to move forward on a trusting basis.
We operate as an online law firm, and provide fixed-fee quotes.
This not a DIY solution. We are a law firm, and our lawyers will work closely with you every step of the way.
Some things to know about
Prenups and BFAs
Structuring a Prenup
A prenup should address all asset classes – real estate, shares, stocks, investments, vehicles, inheritances, property or corporate assets owed through companies or trusts. You cannot draft your own BFA. The use of a lawyer is a requirement to make the document binding. It needs to be a comprehensive document that covers as many different situations as can be planned for.
What does a prenup need to include?
For a Prenuptial Agreement to be legally binding, both parties are required to fully disclose their assets, liabilities, income, and financial resources.
Then they need to list the assets they want to be exempted from inclusion in the shared asset pool should the parties separate.
Each party must seek independent legal advice to ensure a comprehensive understanding of the agreement, including its advantages and disadvantages. The validity of the agreement hinges on the mutual agreement and signature of both parties.
Not having a prenup
If your relationship breaks down and there is no prenup in place, then you will need to negotiate a property settlement with your ex-partner. This is typically done with lawyers on the basis of how the matter would be decided by the Courts (even if it doesn't reach the Courts). A prenup provides you with much more freedom and certainty to decide how you would like your property and assets divided in comparison with the family law process.
Married and Defacto Couples
A prenup can be made by either a married or defacto couple. It can be made before moving in together or getting married - or afterwards.
The Benefits of using Movement Legal
We are a modern law firm, and we understand the needs of modern couples and families
TWe make the process of designing a prenup smooth and seamless, and we offer insights gleaned from our experience in this area.
Keeping you out of Court
Save stress, time, and expense.
Fast
Our approach has an average 6 week turnaround time.
Online Legals
No need to come in to the office. The team is available online and across Australia.
Fixed Fees
We provide fixed fees for any work that we perform, so that you can budget your legal spend before we commence any work.
Holistic Approach
An end-to-end solution that includes estate planning, wills, conveyancing, mediation, divorce applications (as needed).
