Consent Orders vs Binding Financial Agreement: What's the Difference?

Both can formalise an agreement about property and finances between you and your ex-partner. The real difference comes down to whether a court is involved at all - here's what that means for you.

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If you've searched for this comparison, you've probably already agreed on how to split things and just want to know which document is the right one. It comes down to one main question: do you want a court order, or a private contract? Here's the plain-English version.

What are consent orders?

Consent orders are a written agreement between you and your ex-partner that's submitted to the court and approved, becoming a legally enforceable court order. They can cover property and financial matters, parenting arrangements, or both in the one set of orders. Because a court has approved them, they're enforceable in the same way as any other order the court makes.

What is a binding financial agreement (BFA)?

A binding financial agreement is a private contract between you and your partner or ex-partner about how property and financial matters will be handled - no court involvement at all. It can be made before, during, or after a marriage or de facto relationship (sometimes called a prenup or postnup). A BFA only covers property and financial matters, never parenting, and it only becomes legally binding once each of you has received independent legal advice about it before signing.

Side by side

	Consent orders	Binding financial agreement
Goes through the court?	Yes - approved by the court	No - a private contract
Can cover parenting?	Yes, alongside property if needed	No - property and finances only
What makes it enforceable	Court approval of the agreement	Independent legal advice for each party before signing
Typical timing	After separation, once you've agreed on the split	Before, during, or after a marriage or de facto relationship

Which one do I need?

If you and your ex-partner have separated and agreed on a property split, parenting arrangements, or both, and you want that agreement enforced by a court, consent orders are usually the right fit. If you're together (or getting married) and want to set out in advance how property would be handled if things ever ended, or you specifically want a private agreement without court involvement, a binding financial agreement is the product built for that. Some couples use both at different points in a relationship - they're not mutually exclusive, just built for different moments.

Questions people ask about consent orders vs BFAs

Is a binding financial agreement better than consent orders?

Neither is universally 'better' - they suit different situations. Consent orders go through the court and can cover parenting as well as property, which is why most couples formalising a full separation use them. A binding financial agreement is a private contract that never goes near a court, which some couples prefer, but it can only cover property and financial matters, not parenting, and it only becomes enforceable once each of you has had independent legal advice.

Can a binding financial agreement cover parenting arrangements?

No. A binding financial agreement (BFA) only deals with property, assets and financial matters. If you also need to sort out parenting arrangements, you'll need a parenting plan or consent orders alongside it, not instead of it.

Do we need our own lawyer each for a binding financial agreement?

Yes - that's not optional. A binding financial agreement is only enforceable if each of you has received independent legal advice about its effect before signing. We arrange this as part of preparing your agreement, so it's done properly, not skipped.