Can Binding Financial Agreements Be Amended?

In Australia, Binding Financial Agreements can indeed be altered, though the process is more complex than amending a standard contract. The Family Law Act 1975 (Cth) includes specific provisions for ending and replacing current BFAs, thereby enabling modifications to these agreements.

To alter a BFA, both parties need to consent to end the current agreement and draft a new one that includes the intended modifications. This procedure necessitates the same formalities as creating the initial agreement, such as independent legal counsel for both parties. The new agreement must comply with all the stipulations of section 90G of the Family Law Act to be legally enforceable. It's crucial to recognize that you cannot just modify an existing BFA by inserting clauses or changing the original document. Such actions might render the agreement null and void. The correct method is to formally end the current agreement and create a new one in its place

.