Binding Financial Agreements
3. Before-Relationship BFAs
Firm / Chambers:
Last updated: 26 Jun 2015
- It is common for parties to be in different financial shape at the beginning of a relationship.
- Sometimes the more financially comfortable party will be concerned that if the relationship does not work out they will lose the wealth they had prior to the relationship.
- It is also common for parties to have already experienced the breakdown of a previous relationship and have been through the stress, cost and inconvenience of a dispute over property.
- The challenge for the drafter is to create a BFA that will endure whether the relationship is relatively short or lasts many years.
- This means anticipating all kinds of changes of circumstances that may occur in the future.
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