Before the fair to constitute Binding Financial Agreements (BFAs) was extended to same-sex and de facto relationships, when such a relationship had broken down, both parties would have had to prepare themselves for some extended-winded and tedious litigation through the Supreme Court. Thank goodness, this has immediately all been changed with the introduction of section 90UD of the Family Code Act 1975 which specifically entitles human beings in de facto relationships to assent upon what they consider to be a honest distribution of property and financial resources once the relationship has broken down. Effectively, this immediately places de facto agreements in the same category as is already loved by married couples. It method that same-sex relationships are apportioned with alike rights to heterosexual couples and this will be viewed as a welcome go by many gay rights groups that have been concerned and campaigning over these issues.
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August 6, 2011
Creating a Binding Financial Agreement
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