Binding Financial Agreements and Family Court

Discussion in 'Legal Issues' started by 2935, 12th Dec, 2016.

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  1. TMNT

    TMNT Well-Known Member

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    Yep, pretty much teh standard formula of how ive seen it as well.
    i also have seen as soon as they get knocked up they use that for sympathy and accuse husband of domestic violence, get a clean cut divorce, and then got a richer guy, because for the most part the guy that imported them over into australia is probably financially poor to average.


    edit: think of it this way, single pension is like $250-$300 per week, the average salary for them back at home might be $80 per week, thats 3-4 times their salary of freebies!! Id be tempted too:)
     
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  2. TMNT

    TMNT Well-Known Member

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    Im finding that even multi site builds, the cost of land has gone up to a point that the margins are below 10% and thats if there are no delays or nasty surprises
     
  3. Perthguy

    Perthguy Well-Known Member

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    Wrong thread?
     
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  4. TMNT

    TMNT Well-Known Member

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    omg! I swear I wasnt drunk when I posted that.......... promise
     
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  5. 2935

    2935 Well-Known Member

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    Well I guess could just move to the Phillipines and have kids. Hopefully without to many worries about Child Support and getting cleaned out in a divorce.
    If it doesn't work out I'll just come home to OZ and sent her $400 per month if we have kids. This is well over 4x her salary now.

    Anyone have thoughts on this?
     
  6. larrylarry

    larrylarry Well-Known Member

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    If it comes to that, it depends on what she's asking for and how she justifies it. Then negotiate. She'll use a lawyer for sure to advise.

    The aforementioned scenarios are not uncommon. Time will tell.
     
  7. 2935

    2935 Well-Known Member

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    Yeah I hear you Larry. Problem is she just turned 19 and wants kids now. So I will comply and have some with her. I think I may just leave her with her mum and dad or build her a house next door after she gives birth (her sister has 9 kids and she wants at least the same number so should get interesting). Then the plan is for me to spend 3 months here and 3 months in the PI. Yeah doomed to failure but it gets me out the house anyway.

    Should be an interesting retirement.
     
  8. thatbum

    thatbum Well-Known Member

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    So you're worried about your finances but you've also decided to acquiesce to your partner's request to have a whole bunch of kids straight away....?

    And also after all your concerns, are you even going to get any legal advice?

    I just notice that lots of people in your situation talk big about getting a BFA and pooh-poohing family law - and then don't even get the basic advice on how it even works at first instance and the basic steps they can take to 'protect' themselves.
     
  9. Terry_w

    Terry_w Structuring Lawyer and Finance Broker - all states Business Member

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    Just because she is overseas doesn't mean Australian laws won't apply.
    She could still make a property settlement claim from over there. and she could claim child support if the Philipines is on the list of countries which australia has an agreement with.
    Legal Tip 33: Fathered a child overseas?

    Then you have to consider the potential claims at death. She would be an 'eligible' person under NSW law so she could make a claim against your will if what you leave her is not adequate.
    Legal Tip 50: Family Provision Claims Against Estates https://propertychat.com.au/community/threads/legal-tip-50-family-provision-claims-against-estates.2510/

    She could make a claim against assets of any trust in which you are trustee or an appointor, your super, properties owned as a joint tenant etc. (notional estate orders) (I think I have written on this before but cannot find the post)
     
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  10. hobo

    hobo Well-Known Member

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    I think your and my definitions of "interesting" differ greatly!!!!!!

    At least it sounds like you are not a very attached to your assets - probably a very good thing.

    Good luck.
     
  11. 2935

    2935 Well-Known Member

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    Hi TerryW.
    She lives in the Phillipines and the Phillipines is on the list of countries with a reciprocating agreement with Australia.
    So I vuess I will be up for full child support....BUT what if I gained New Zealand Citizenship and renounced my Australian Citizenship...would that be an advantage?
     
  12. Terry_w

    Terry_w Structuring Lawyer and Finance Broker - all states Business Member

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    Then you would be subject to Australian and NZ laws - and Philipines.

    What about your assets in Australia? Even a non-citizen's assets here can be subject to a property settlement. I guess also that assets you own overseas could be taken into account in family law proceedings here.
     
  13. Kirsti327

    Kirsti327 Well-Known Member

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    It's a sad world where keeping the things that you and you alone have worked hard and sacrificed for before entering the relationship would not be considered 'just and equitable'.
     
  14. Perthguy

    Perthguy Well-Known Member

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    Indeed. A close friend of mine worked hard and bought a house in one of the better suburbs of Adelaide. Then she married a drop kick and had kids
    Now they have separated, drop kick can take her for half her house and super. Even though she paid his mortgage when they were together. It's disgusting really
     
  15. Kirsti327

    Kirsti327 Well-Known Member

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    Disgusting and kind of terrifying. It's enough to make you swear off relationships altogether.

    eg for myself right now, my partner has a good job but spends all his income on 'toys' (cars, computers and so forth) and generally spends his time outside work enjoying life, while I spend hours every week researching investments and invest 75% of my income while sacrificing to keep my costs down.
    We contribute equally to all household expenses and I would like to think that over and above that, whatever we earn is our own and he would ultimately keeps the toys that he buys while the effort and sacrifices I'm making to invest now will be for my benefit alone.
    But from cases I've seen the Family Court seem to defy logic when making awards. BFAs seem to be far too easy to overturn, which makes them almost worthless in my opinion. You're still relying on the good nature of your partner to not try to claim more than what is fair and/or previously agreed.
     
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  16. Terry_w

    Terry_w Structuring Lawyer and Finance Broker - all states Business Member

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    But there are plenty of cases where BFAs are not overturned - like all contracts you only hear of the disputes that get to court.

    There are also plenty of cases where the assets of the parties are not readjusted. There was one I posted a few months ago with invovled two woman who had been together for over 20 years and had kept their finances separate. One wanted more and the court said no!
     
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  17. Abooking

    Abooking Well-Known Member

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    _____________
    Terry, I checked that link with the list of countries. Thailand is not on it.

    If Im a non resident for tax purposes and I live in the land of smiles. If I get married and have a child. Then divorce. Can 'the wife' go after my oz assets according to family law in Australia?
     
  18. Terry_w

    Terry_w Structuring Lawyer and Finance Broker - all states Business Member

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    Yes
     
  19. Il Falco

    Il Falco Well-Known Member

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    This is a no brainer case for lease not buy.

    Upside risk very little, downside risk significant and highly likely to eventuate.

    Let us know how you get on in a few years!
     
  20. Yson

    Yson Well-Known Member

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    Seems there is no way to protect ur assets when there is a failure in relationship