The breakdown of a relationship is a very stressful time. Sorting out your financial arrangements is likely to be among your top priorities. If you have reached an agreement on how your assets and liabilities are to be divided, then you should formally document your agreement through a Binding Financial Agreement or BFA, also called a separation agreement. This is essential if you need to split superannuation, transfer real estate and refinance mortgages. BFAs are fully enforceable in the Family Court and are recognised by the Offices of State Revenue for stamp duty exemption.