Is it worth getting a Binding Financial Agreement?

Yes, it is worth getting a Binding Financial Agreement if you have separated and you want to close the financial chapter to move forward with certainty. This is an investment worth making.

Lawyers refer to this as ending the financial relationship, which means severing all financial ties with your former partner. The advantages of this are that you can get on with your life without the fear that your former partner will come back and seek a property settlement even years down the track. Furthermore, if you want to enter a new relationship, it is best to do so having closed the financial chapter with your former partner.

If your property settlement agreement includes the transfer of real estate to you, then you can receive an exemption to paying stamp duty only if you can show a completed Binding Financial Agreement or a Court Order.