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What will the agreement say?

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This depends on when you enter into the BFA.

BFA’s signed before or during a relationship typically specify how asset and liabilities will be divided in the event of separation.

BFA’s signed after separation tend to be quite specific and set out a series of agreed transactions that lead to financial separation.

It is prudent for each party to declare their assets and liabilities to each other before the BFA is made. We recommend that the BFA include a comprehensive list of the current assets, liabilities and financial resources (whether in your name, your partner’s name, a family trust name, or a company or business name) of both parties.

The agreement cannot cover parenting matters.

 

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