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Leon
Leon, Solicitor
Category: Australia Law
Satisfied Customers: 38286
Experience:  BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
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Hello, I just moved to Narangba from Sydney to live with

Resolved Question:

Hello,

I just moved to Narangba from Sydney to live with my boyfriend.

I have a house in Sydney (with mortgage) and some money in my personal bank account, my boyfriend and I agreed that only the salary income after we moved together belong to both of us.

I have moved here, so I want to have this agreement to be done and signed asap to protect myself and also him.

Actually I think it should be only property and money under our joint account belong to us (I think he agrees), but his situation is a bit too complicated to me.

He showed me his divorce paper, but according to him, the money split case between him and his ex-wife is still waiting for final judgement. In this scenario, is that ok to setup a joint account with him? Will his wife be able to claim my money using their son?

Am I at any risk of losing money? Especially my property in Sydney?

How much it will cost to get the agreement done and at what level I am protected via this agreement?

If both my boyfriend and I agreed to sign, is that ok to just go through one solicitor?

Thanks,
Gina
Submitted: 1 year ago.
Category: Australia Law
Expert:  Leon replied 1 year ago.
Good Afternoon,

Thank you for your question. To Introduce myself I am a sydney based Solicitor and will do my best to provide you with relevant information to assist you.

What you need, is a Binding Financial Agreement.

In Order for this to be done you will both need your own solicitors and you will both have to declare all your in come assets and liabilities in the document.

The solicitor will provide each of you with independent legal advice and sign the certificate and then you have a document that complies with the Family Law Act and if anything happens and you split what the agreement says is enforceable.

the following link provides detailed information about the agreements for your attention.

http://www.bindingfinancialagreement.com.au/?gclid=CKjb0JiSqbgCFahepgodFzAAdg

When you say it is waiting on final judgement, are you telling me that they have not yet had a hearing, or have they had the hearing and weighing on the judge to make the decision?

Your money is independent and they cannot touch it.

in relation to the costs for the binding financial agreement if you go to an independent solicitor you will each be looking at around $5500 for the solicitor that prepares the document and approximately $2000-$3000 for the solicitor that gives the advice to the other party.


Customer: replied 1 year ago.

Hello,



Their money splitting case has had the hearing and waiting on the judge to make the decision, will this affect his financial situation and the binding financial agreement we might do in near future?


 


For the cost, if we both go to one independent solicitor, one of us (say myself) should pay around $5500, and the other one (my boyfriend) pays approximately $2000-$3000, is that correct?


 


Thanks,


Gina

Expert:  Leon replied 1 year ago.
Good Afternoon,

It will not affect your binding financial agreement, as it has nothing to do with you.

Your boyfriend may wish to delay the binding financial agreement until the decision is handed down by the judge and then he can include the assets he receives from his property split as part of the agreement.

My fees as you have described are correct.

They are not a simple agreement to prepare. Each agreement is individual and dependent on what the parties want to be disclosed in them.

If you are the solicitor that is drafting the document it takes approximately 5 to 8 hours to get a complete document and also spent time with the client explaining it.

There are a number of drafts that are prepared until they are exactly as the client wants them.

The other solicitor needs to read the agreement and possibly ask for any amendments to make the agreement suitable for their client and then spend time advising the client.

The website I sent you, shows very different amounts, but I cannot say whether the agreements hold up in court or not.

You can save yourself some money by putting together something and providing twice solicitor in hard and soft copy so that they are not starting from scratch.

Is there anything else I can assist you with?
Customer: replied 1 year ago.


Hello,


 


Two more questions:


 


(1) Can you be an independent solicitor, so both of us can go through you, my boyfriend doesn't want to find another solicitor.


 


(2) Is that ok to setup joint account with him now? He mentioned he needs to report to Centrelink that he has partner now, do I have to report to Centrelink? Am I financially respond to his son? Can I specify in future the rental income from my Sydney property only belong to me?


 


 


Thanks,


Gina

Expert:  Leon replied 1 year ago.
Good Afternoon

I am sorry but I am not permitted to take on clients from here. It is part of the agreement I signed.

You can set up the account but I would not put too much money into it. It is best that the family law matter is finlaised with him and his ex.

I hope this is of assistance.



Customer: replied 1 year ago.


Hello,


 


Thanks for your answer.


 


He said he has been waiting for more than 1 year and the judge still didn't make the decision, how can we find out what is happening?


 


By the way, where to select 'Excellent Service' so you can be paid?


 


Thanks,


Gina

Customer: replied 1 year ago.


Hello,


 


Thanks for your answer.


 


He said he has been waiting for more than 1 year and the judge still didn't make the decision, how can we find out what is happening?


 


By the way, where to select 'Excellent Service' so you can be paid?


 


Thanks,


Gina

Expert:  Leon replied 1 year ago.
Good Evening

He should have his solicitor call the judges associate and see what is happening.

If judges are too slow you can report them.

If you are happy and finished with your questions I can send the rating page for you to rate and for me to be paid.
Customer: replied 1 year ago.


Thanks for responding on Friday night!


 


last question: do I have to be involved with CentreLink report for his responsibility to his son? (I don't have kid)


 


Thanks,


Gina

Expert:  Leon replied 1 year ago.
Good Evening

Are you asking about child support?

It has very little to do with you. His ex should apply for child support if she wants to receive it.

Are you asking if it has anything to do with your agreement?
Customer: replied 1 year ago.

 


Good evening,



Yes, once we signed agreement, are we kind of de facto? Do I have to be involved to his child support (his son is 10 years old)?


 


Thanks,


Gina

Expert:  Leon replied 1 year ago.
Good Evening

You do not have to be involved with the child support. It is your partners income that is used.

You are a defacto once you have lived together for 2 years.

I hope this is of assistance.



Customer: replied 1 year ago.


Good Evening


 


Does it mean if we lived together for less 2 years and seperat, he is not able to claim my property and money even we don't have the agreement?


 


Thanks,


Gina

Expert:  Leon replied 1 year ago.
Good Morning

To be seen as a defacto couple one of the criteria is that you are together for 2 years.

It is after 2 years that claims can be made against your assets.

This does not mean you wait until the agreement is made. The earlier you make the agreement the better.

If you are not together for 2 years and he has put money into your assets he can claim that back.

The earlier you have the agreement done the better.

Particularly if you both agree.

I hope this is of assistance.
Customer: replied 1 year ago.


Thanks for your quick answer, please send me the rating page for your to be paid.


 


Thanks,


Gina

Expert:  Leon replied 1 year ago.
Good Afternoon

You are very welcome and if I can assist again please let me know.

If I have assisted please do not forget to leave me with positive feedback.


Leon, Solicitor
Category: Australia Law
Satisfied Customers: 38286
Experience: BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
Leon and 2 other Australia Law Specialists are ready to help you

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