Hillwest Legal prepares separation agreements for clients across the Hills District and Greater Western Sydney. A separation agreement is a binding financial agreement (BFA) made after a relationship has ended. It sets out how assets, liabilities and financial resources will be divided between the former partners without the need for court proceedings. If you've separated and reached agreement on the property split, a separation BFA formalises that agreement in a legally binding way.
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How a separation agreement works
- Initial consultation. We discuss your situation the assets and liabilities in the pool, what you and your former partner have agreed to, and any outstanding issues.
- Financial disclosure. Both parties provide full financial disclosure property, bank accounts, superannuation, investments, debts, and other financial resources. Disclosure is essential to the agreement's enforceability.
- Drafting. We prepare the BFA under the Family Law Act 1975 (Cth), reflecting the agreed terms. If superannuation splitting is involved, the required superannuation agreement is included.
- Independent legal advice. Your former partner must receive independent legal advice from their own solicitor before signing.
- Execution. Both parties sign the agreement. Each solicitor signs a certificate confirming the advice was provided.
- Implementation. We assist with the practical steps to implement the agreement such as transferring property, splitting superannuation, or closing joint accounts.
When you might need a separation agreement
You've agreed on the property split. If you and your former partner have reached agreement whether informally or through mediation a separation BFA makes it legally binding.
You want to avoid court. Unlike consent orders, a BFA doesn't go through the court. It's a private contract between the two of you. This can be quicker, cheaper and more confidential.
You have time-sensitive matters. If property needs to be transferred, sold, or refinanced urgently for example, to release one party from a mortgage a BFA can sometimes be finalised faster than consent orders.
You're separating amicably. Where both parties are cooperating and the terms are agreed, a BFA is often the most efficient path to a binding outcome.
Separation agreement vs consent orders
A separation BFA is a private agreement. It doesn't require court approval. It's quicker to finalise and completely confidential. However, a BFA only covers financial matters not parenting arrangements.
Consent orders are court-approved. The court reviews the proposed orders to ensure they are just and equitable. Consent orders carry the force of a court order and can cover both property and parenting matters in a single application.
If you need to formalise parenting arrangements alongside the property split, consent orders are usually the better option. If it's purely financial and both parties agree, a BFA may be simpler.
Separation agreement fees
Fees depend on the complexity of the asset pool and whether the terms have already been agreed. We provide a quote after the initial consultation. Both parties will have their own legal costs one for drafting, one for independent legal advice.
Frequently asked questions about separation agreements
Related services
- Property consent orders Court-approved alternative.
- Property transfer Transferring property after the agreement.
- Sale conveyancing Selling the family home as part of settlement.
- Will and power of attorney Update your will after separation.
The information on this page is general in nature and does not constitute legal advice. For advice specific to your circumstances, please contact us directly.