ARTICLE · 23 FEBRUARY 2026

What is the Difference Between a Consent Order and a Binding Financial Agreement?

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This article is an explanation for Australian business owners and individuals on Consent Orders and Binding Financial Agreements under Australian family law.

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In Short

Consent Orders are court-approved agreements that formalise property settlements after separation and must be fair and reasonable.
Binding Financial Agreements (BFAs) are private contracts that divide property without court approval but require strict legal steps to be valid.
Both options legally record how assets and finances are divided after separation or divorce.

Tips for Businesses

If separation affects business assets, property or finances, choose the option that best protects your interests. Use Consent Orders where court oversight and fairness matter. Use BFAs for privacy and flexibility, but only with proper legal advice. Always consider future enforcement, costs and how the agreement could affect business ownership and financial security.

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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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