Two of them. The agreement contains: With respect to each party to the agreement, a statement that the party to which the statement relates was provided by an independent lawyer prior to the signing of the agreement by an independent lawyer on the following issues – The fact that both parties must have before they have signed the agreement, each receives its own independent legal advice and will receive from lawyers who would give them advice, will contribute against any proposal from a party that they did not understand, that they signed. For a financial agreement to be legally binding, you must have both, but it is important to keep in mind that BFAs are complex contracts and require specialized family law advice. The lawyer needs considerable expertise to stick to his obligation to law the family to ensure that the BFA is effectively binding. Whatever you do, you should not keep a lawyer to go to a BFA based on how much they calculate, design or advise. They must ensure that they specialize in family law and that they have experience in the development of the BFAs. Unfortunately, it is all too common for a BFA to be overturned by the court for poor wording or poor deliberation. Each BFA must be highly tailored to the various parties involved and, as such, it is necessary to provide proactive and strategic advice from the lawyer who drafts and/or advises the document. An agreement with the other party has many advantages, such as: the effect of a binding financial agreement is to enter into a legally binding ownership regime between the parties, which is concluded between them as a private agreement – and thus effectively departs from the 1975 Family Act and all the rights they may have under that act.

BFAs are often wrongly referred to as a “pre-contract agreement” or “prenup,” which is an American concept. A “prenup” (or “prenups,” as they are sometimes called) is done before the parties are married. Some advantages of reaching a financial agreement are to have certainly and control your future financial situation, privacy before the usual court proceedings and the freedom to do things under the agreed terms.