Updated October 2026
When a relationship ends, dividing shared investments and savings can feel overwhelming. You need to understand what you own, what you owe and how to make your settlement legally effective without spending unnecessarily.
For suitable agreed matters, a binding financial agreement, or BFA, can be an affordable way to formalise a settlement without applying for consent orders. CM Lawyers’ fixed fee for preparing a BFA in an agreed matter is from $1,500 including GST. Your written quote will confirm what is included and any additional charges before you proceed.
How much does a BFA cost in Australia
There is no single standard BFA price. Fees depend on the assets, negotiation required, drafting complexity and whether the lawyer is preparing an agreement or advising on one already drafted. Comparing an advice certificate with a complete drafting service can give a misleading impression of the cost.
When comparing quotes, check whether the fee includes GST, whether it covers one party or both, and whether it is for drafting an agreement or only reviewing one.
Consent orders also attract a court filing fee of $215, effective from 1 July 2026, unless an exemption applies. A BFA has no consent-order filing fee.
A fixed fee is most useful when you know exactly what it covers. Before engaging a lawyer, ask who prepares the first draft, how many changes are included and whether the fee includes advice to you. Clarify what happens if negotiations reopen or previously undisclosed assets emerge. Put any additional work and its price in writing before it starts.
Can a BFA avoid the cost of consent orders
Yes. A suitable BFA can record your agreed financial settlement privately without a consent-order application. Where both people agree, disclosure is complete and the arrangement is straightforward, this may reduce the initial cost of formalising the division of savings and investments.
However, BFAs are not always cheaper. Depending on the matter, consent orders can cost less than a BFA once both parties’ advice is counted. Each BFA party needs independent legal advice. CM Lawyers’ quoted fee is for our agreed work; budget for the other party’s separate lawyer. The drafting fee is not necessarily the couple’s total bill. Ask whether negotiations, revisions, property transfers, tax advice or superannuation work require separate quotes.
Consent orders can also be obtained without attending a hearing. The court must be satisfied that financial orders are just and equitable. A BFA is not routinely approved by the court. The better option depends on the agreement, the assets and the protections each person needs.
What investments and savings should you identify
Start with bank accounts, term deposits, shares, managed funds, investment properties, cryptocurrency, superannuation and debts. Include assets held individually as well as jointly. Property acquired before the relationship, inheritances and gifts may also need consideration; the pool is not automatically limited to assets bought together.
Holding an account in one name does not determine the final settlement, and a joint account does not create an automatic 50–50 family law entitlement. Company and trust interests require closer examination of ownership, control and access to resources. Do not assume every trust asset personally belongs to a beneficiary.
Superannuation splitting deserves separate attention. Splitting super does not turn it into immediately available cash; preservation rules continue to apply. A retirement balance may therefore meet different needs from accessible savings. Obtain current fund information and advice on the required agreement and trustee process before treating a proposed split as complete.
How current family law affects your settlement
Under the property law changes effective from 10 June 2025, the court identifies property and debts, assesses financial and non-financial contributions, and considers current and future circumstances. Any orders must be just and equitable. Relevant economic effects of family violence must also be considered.
There is no fixed percentage awarded to the higher earner or primary carer. Homemaking, parenting, health, earning capacity and children’s care and housing needs can matter. These considerations also help inform negotiations outside court.
Five steps to handle shared investments and savings
1. Exchange financial records. Gather tax returns, bank and investment statements, loan balances, superannuation information and relevant company or trust documents. Disclosure is an ongoing obligation. Update figures when circumstances change rather than negotiating from incomplete or outdated information.
2. Agree on sensible valuations. Record the valuation date for shares and managed funds. Obtain appropriate professional valuations where property or business values are disputed. Consider debts and possible tax consequences when comparing assets with the same headline value.
3. Protect everyday cash flow. Discuss account access, regular bills, mortgage payments and investment income while negotiations continue. Avoid draining accounts or disposing of investments without advice. ASIC’s separation financial checklist provides a useful starting point.
4. Negotiate clear terms. If safe and appropriate, negotiation or mediation can help resolve disagreements. Specify who receives each asset, payment dates, transfer arrangements and responsibility for liabilities. Check tax and lender requirements before committing to a transfer or refinance.
5. Formalise and implement the settlement. Choose a BFA or consent orders after advice. Arrange required signatures, transfers and account changes. A private agreement between former partners does not itself release a borrower from obligations to a bank.
Why independent legal advice matters for a BFA
Under the Family Law Act 1975 (s 90G, or s 90UJ for de facto couples), each party must obtain independent legal advice before signing. That advice covers the agreement’s effect on their rights and the advantages and disadvantages of entering it. Each lawyer must sign a statement that the advice was given, and a copy is provided to the other party or their lawyer.
A BFA can deliberately cover only particular assets or issues. That is different from hiding relevant financial information or accidentally omitting something the agreement was meant to resolve. Clear scope and proper disclosure matter. Fraud, material non-disclosure or unconscionable conduct can expose an agreement to challenge.
Real case: Thorne v Kennedy (2017)
In Thorne v Kennedy [2017] HCA 49, the High Court restored the trial judge’s decision setting aside pre-nuptial and post-nuptial financial agreements, even though the wife’s independent lawyer had advised her not to sign. The first agreement was presented shortly before the wedding, with the wedding dependent on her signing.
All seven judges held the agreements were vitiated by unconscionable conduct; five also found undue influence. The lesson is practical: independent advice is essential, but it does not cure an agreement obtained through improper pressure. Allow time for advice and negotiation. An inexpensive document is poor value if the process leaves it vulnerable.
Do not wait for divorce to address finances
The ABS 2025 divorce statistics, released on 28 July 2026, report median marriage durations of 9.4 years to separation and 13.4 years to divorce. These figures describe divorce trends, not BFA uptake or settlement costs.
Financial arrangements can be addressed before divorce. The usual deadlines for court property applications are 12 months after divorce becomes final or two years after a de facto relationship ends. Late applications involve additional legal requirements; seek advice promptly if a deadline is approaching.
Ask CM Lawyers about a fixed fee BFA
If you have agreed how to divide your savings and investments, ask whether CM Lawyers’ fixed-fee BFA service, from $1,500 including GST, suits your circumstances. We can explain the proposed scope, independent advice requirements and whether consent orders would better meet your needs.
Explore our binding financial agreement services or contact CM Lawyers for a written quote. Bring your asset list and proposed division so the discussion starts with the information needed to assess your agreement.
Sources
Sources are linked beside the relevant claims: Federal Circuit and Family Court guidance and fees; the Attorney-General’s Department property reforms; ASIC Moneysmart; the High Court judgment; and ABS divorce statistics. Pricing and legal information checked 21 October 2026.
