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Women Lead BFA Boom in Australia

About this episode

Binding financial agreements, or BFAs, are surging in Australia, particularly among women, as a way to avoid costly divorce battles and protect assets. These agreements, once dominated by wealthy older men, are now being sought by successful women safeguarding their businesses and young couples seeking a clean break. The rise can be attributed to later-life relationships and family gifts, with costs ranging from $7,500 to $15,000 per person, a fraction of the cost of court battles. Experts advise that BFAs can be used before, during, or after marriage, and can even quarantine gifts or set time limits, making them a smart move in todays world of equality and financial protection.

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Women Lead BFA Boom in Australia

Sydney News Today | 2 Min News | The Daily News Now!

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Full transcript

Sydney News Today | 2 Min News | The Daily News Now!Women Lead BFA Boom in Australia. Machine-transcribed; use the interactive transcript above to jump the player to any line.

It's April 3rd, Sydney News Today starts now. AI-powered and ready. Finding financial agreements, or BFA's basically pre-nubs, are blowing up in Australia, especially with women leading the charge. After messy divorces drain hundreds of thousands in legal fees, folks like single mom Michelle are done with court drama. These deals spell out assets splits up front, dodging long fights and protecting kids' futures. Used to be mostly rich, older guys shooting cash from younger partners, but now, genders flipped. Family law pros see more boss women guarding businesses they built, like one client running the family empire with a high school sweetheart. Young couples too, hitting second chances or fresh starts, want that exit plan locked in. People scar by parent splits, or their own breakups, say enough. They crave quick, clean breaks, no 18 months of stress, or 200 gram per side in bills. Even young pro got a river view apartment from her folks on a work visa, her partner

had family businesses. Their BFA let them part happy in weeks. Experts know later, life relationships and bank of mom and dad gifts fuel this. BFA's work before, during, or after marriage, even de facto's, would need separate lawyers. Costs run $7,500 to $15,000 each way, cheaper than court, and can quarantine gifts or set time limits like five, years, smart move in today's world, where equality means everyone protects their grind. Whether co-habiting or marrying, it's insurance for the what ifs, keeping love focused without money, messing it up.

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