For anyone planning a major, exciting life milestone this year – like moving in with a partner, getting married or starting a family – thinking about a binding financial agreement (BFA) is probably not high on the list of things to do.

Yet, it very much should be.

Having something concrete and legally binding in place can protect everyone involved from a potentially devastating family law dispute down the track.

It might feel awkward, but speaking to your partner about money early on can prevent things getting nasty.Credit: istock

And while no one starting a new relationship really wants to think about how things might end, having a conversation about financial matters and the ownership of assets at the beginning could prove invaluable.

Binding financial agreements (colloquially known as “prenups”) have been part of the legal landscape in Australian for 25 years and are designed to provide certainty and........

© The Sydney Morning Herald