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What’s the difference between Binding Financial Agreements and Prenuptial Agreements?

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What’s the difference between Binding Financial Agreements and Prenuptial Agreements?

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Well?  No difference!!

One is the technical name and the other is the commonly used name.

Here in Australia, prenuptial agreements are binding financial agreements entered before the commencement of the marriage (or a de facto relationship).

Binding Financial Agreements are the more formal terminology that we use in Family Law.  BFAs are often mistakenly referred to as a prenuptial agreement or a prenup.

A prenuptial agreement (or ‘prenup’) is made before the parties are married, but is generally seen as an American term and not an Australian term.

The equivalent of a prenup in Australia is known as a Binding Financial Agreement.

The legislation here in Australia, does not make any reference to the phrase “prenuptial” to draw the distinction that binding financial agreements are a completely different concept.

For more information, see our other articles on Binding Financial Agreements (BFA’s) / Prenuptial Agreements.

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