Consent Order or BFA? & How to Make Sure Your Settlement Sticks

Are you going through a divorce property settlement and unsure whether to choose a Consent Order or a Binding Financial Agreement (BFA)? In this episode, we break down what they are and the key differences between the two. We also discuss the pitfalls and risks to keep in mind when navigating this. 

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Listen to This Episode If You:

✅ Are going through a separation and need to divide property fairly.
❓ Want to know whether a Consent Order or a Financial Agreement is the better choice.
💰 Need to understand the costs involved in each option.
⚖️ Want to protect yourself from future financial claims.
📜 Want to know if consent orders or bfa’s can be contested in court

00:00 Introduction to Property Settlement

00:57 Understanding Consent Orders

01:32 Exploring Binding Financial Agreements (BFAs)

02:14 Comparing Consent Orders and BFAs

03:20 Legal Advice and Costs

05:28 Risks of Not Having Legal Agreements

12:41 Process of Getting Financial Agreements

15:33 Process of Getting Consent Orders

21:49 Common Pitfalls and How to Avoid Them

22:15 Understanding Consent Orders and Financial Agreements

22:46 The Risks of Non-Disclosure in Financial Agreements

25:44 Signing Under Pressure: What You Need to Know

27:55 The Importance of Proper Legal Advice

30:49 Challenging and Enforcing Settlements

35:49 Final Thoughts and Practical Advice

40:48 Conclusion and Legal Disclaimer

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Key Topics Discussed in This Episode:

🔹 Understanding Consent Orders

• What is a Consent Order, and how does it work?

• Why the Family Court reviews and approves these agreements.

• The benefits of having a legally binding, court-approved settlement.

🔹 What You Need to Know About Financial Agreements (BFAs)

• Why they are no longer called Binding Financial Agreements.

• How BFAs differ from Consent Orders and why they carry more risk.

• The legal costs and technicalities involved in creating a Financial Agreement.

🔹 Consent Orders vs. BFAs: Cost and Legal Requirements

• How much does a Consent Order cost vs. a BFA?

• Why BFAs require independent legal advice for both parties.

• Can you challenge or overturn these agreements in court?

🔹 Avoiding Common Pitfalls

• Why informal agreements leave you legally unprotected.

• The dangers of signing under pressure or coercion.

• What happens if your ex doesn’t comply with the agreement?

🔹 Finalizing Your Property Settlement

• A walkthrough for getting a Consent Order approved.

• When a BFA might be ne