A Binding Financial Agreement can have important consequences for estate planning. While these agreements are most associated with regulating property division following the breakdown of a relationship, their terms may also influence how assets are dealt with after death. If the obligations created by a financial agreement are not carefully considered alongside the provisions of a will, inconsistencies may arise that complicate the administration of an estate.
For example, a financial agreement may contain commitments relating to the preservation or transfer of particular assets. If a will distributes those assets in a different manner, it may create uncertainty or disputes for executors and beneficiaries. In some circumstances, the existence of the agreement may also influence potential family provision claims. For these reasons, it is important that estate planning documents and family law agreements are prepared and reviewed together rather than in isolation.
Our Principal Family Law Solicitor, Amanda Tomlinson, is an Accredited Specialist in both Family Law and Succession Law, with more than 20 years of experience advising clients on matters where these areas of law intersect. This dual expertise allows the firm to provide comprehensive advice that considers both family law arrangements and estate planning together, ensuring that financial agreements, wills and succession planning strategies operate consistently and effectively.
If you would like us to advise you on how a Binding Financial Agreement may affect your will or broader estate planning arrangements, please contact our office to arrange a consultation.