FALZON Legal Newsletter - Aptil 2024

 

Hi All,

What Are Binding Financial Agreements? A Binding Financial Agreement (BFA Agreement) is what many people refer to — slightly incorrectly — as a prenuptial Agreement or prenup. Effectively, it’s a binding contract made between you and your spouse or partner that details how some or all of your investments, cash, property, and debts are allocated in the event of divorce, break-up, or separation. However, while a prenup is agreed before the formalisation of a marriage or partnership — a Binding Financial Agreement can be arranged: Prior to entering a de facto relationship or marriage While in the relationship During a period of separation but before divorce After the break-up of a relationship or divorce As long as both you and your partner — who can be of the same sex — agree to the terms, you can enter into a BFA.  However, it’s crucial to remember that in doing so, you both relinquish your entitlements under the Family Law Act — which usually decides a fair and equitable division of financial instruments and assets at the end of a marriage or relationship. CLICK HERE TO LEARN MORE ABOUT BINDING FINANCIAL AGREEMENT SERVICES WILLS AND ESTATES Guiding You on a Compassionate Pathway Through Wills and Estates Planning FAMILY LAW Navigating You Compassionately in the Most Challenging Circumstances CONTESTING A WILL Your Guide To Contesting and Challenging a Will in NSW INTERNATIONAL Addressing Global Inheritance With Compassion CHAT WITH US ABOUT PAUL FALZON

Paul Falzon — Building Falzon Legal Upon a Foundation of Compassion Paul Falzon founded Falzon Legal with an ambitious vision — to combine his law expertise with his inexhaustible passion for supporting his clients and their families. Since his admission to the Supreme Court of NSW in 2003, Paul’s relentless determination strips away traditionally detached and clinical legal attitudes — replacing them with a personal, warm, and understanding approach. With experience in wills and estate planning  and power of attorney through to divorce and commercial conveyancing — his compassionate ethos brings a welcome human element to legal matters. Spending a significant amount of his time working and volunteering for community and not-for-profit organisations — he understands first-hand that legal advice alone is generally insufficient to deal with people’s real-life challenges. So uniquely, he assists, reassures, and supports his clients through often emotionally demanding and stressful circumstances, issues, and litigation. KNOW MORE ABOUT PAUL FALZON LOCATIONS Our Parramatta Location Veritas Building, Cnr O’Connell St and Hunter St, Parramatta Level 3, Suite 23/27 Hunter St Parramatta NSW 2150 Our Sydney City Location The Executive Centre, Level 17, Angel Place, 123 Pitt St, Sydney NSW  2000 BOOK A DISCOVERY CALL We are experts in everything relating to Wills and Estates, and Family Law in Parramatta, NSW. Ensure your assets are dealt with according to your wishes. Put your legacy in the hands of the experts who care. Phone: (02) 9502 2922 WHAT CLIENTS SAY ABOUT US “Paul and team has made this process easy and quick for me. He made me feel very comfortable during the appt and answered all of my questions thoroughly. I really liked his professional advice in helping me the best way for my situation.” – Ruth, Estate Planning Client ★★★★★