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WA Binding Financial Agreement While Partner is on Student Visa?

Discussion in 'Family Law Forum' started by Sjk, 28 April 2016.

  1. Sjk

    Sjk Member

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    Hi all,

    I'm after some help re Binding Financial Agreements. I've been dating an overseas student ( student visa holder) for 1 year and we're about to move in together. Hopefully, if things go well, we will apply for a spouse visa in a year's time. Naturally, I want to safeguard my assets (house, cash and superannuation) and would like to enter into a Binding Financial Agreement with her. Is this something that can be entered into while she is still on a student visa?

    And if it can be entered into, is this even necessary while she is still on a student visa ? i.e. am I at risk if things don't work out between us say in 6 or 12 months and no Binding Financial Agreement was made.

    Many thanks
     
  2. Victoria S

    Victoria S Well-Known Member

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    Hi sjk,

    The only real prerequisites to entering into a binding financial agreement is that the parties are ordinarily living in Australia and are a couple who are cohabiting or intending to cohabit. See: Binding Financial Agreement (De Facto Pre Cohabitation) WA - Legal Documents - LawAnswers.com.au

    You will only need to rely on this agreement if you are what the family court considers a de facto couple by the time you are separating. The court will consider a variety of factors in determining whether you are a de facto couple whose property matters the family court has jurisdiction to deal with. Legislation defines a de facto relationship as one where two people have a relationship as a couple living together on a genuine domestic basis who are not married and not related by family.

    The court looks at
    • duration of relationship
    • nature and extent of their common residence
    • sexual relationship
    • degree of financial dependence or interdependence
    • ownership, use and acquisition of property
    • degree of mutual commitment to a shared life
    • care and support of children, and
    • public aspects of their relationship.
    It is definitely safer and less hassle getting a binding financial agreement in place, rather than go through court, mediation or settlement negotiations.
     
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  3. Sjk

    Sjk Member

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    Thanks, Victoria, I appreciate the information and help. If things go smoothly after 6 months I will look at organising a BFA, which I've discussed with her and thankfully she's fine with it.

    Many thanks
     

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