This article explores the interaction between Binding Financial Agreements (BFAs) and wills, highlighting that a BFA does not automatically override a will. BFAs govern the division of assets during separation, while wills dictate the distribution of assets after death. Potential conflicts may arise leading to legal disputes, emphasizing the importance of proper estate planning. It suggests that couples should seek legal advice to ensure both documents align and reflect their intentions without surprises.
Understanding how these two legal documents interact is crucial to ensuring your wishes are followed without disputes.
A BFA outlines how assets and liabilities will be divided in the event of a separation or divorce.
BFAs handle property division during a breakup, whereas wills dictate inheritance upon death.
Proper estate planning ensures both documents work together harmoniously.
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