im trying to find out what the law is on defacto relationships,
my understanding is that if you live with your partner regardless of having financial ties or not they are entilted to half or therabouts.to me this sounds crazy my girlfriend and i want to move in together, weve been together for two years we have no financial ties and are independent of each other financially but she can become automatcally entilted to half my assets???? how is this fair either that or we lie to the goverment?
p.s dont get me wrong we love and trust each other very much but it is a big risk these days
That is my understanding of the law.
On the other hand, you are entitled to half of her assets.You can always enter a contract, sorat like pre-nuptuals. This howver is probably likely to create more stress than positive outcoomes though.
J
I didn’t think that they were automatically entitled to half the assets that pre existed the co habiting, rather that any assets/growth achieved during the period of living together is fair game. I think it can also be looked on as who put the money/effort in to gain these assets.
I would ask the question of a solicitor perhaps.
Cheers
MelHi Falcon,
another thing to be careful about, is… it dont matter which partner works, but just because one partner may not have a paid income, but being a home maker is still recongnised in the eyes of the law as work and gives that partner legal rights to have ownership over half the assets, during the absence of a relationship over 3 months long and living together…
…though like Mel has mentioned, best to see a legal advisor…
but if you are worried and want to safe guard your assets and future assets, pre-nups are the go these days, but… like also mentioned by Milkmanjr, are more likely to cause stress than a postive outcome…
… also speak to your partner about this…
Cheers,
sisFalcon,
The answer is in the meaning of De Facto – which means ‘in fact’.
Marriage as a registered civil union is a relatively new phenomenon. Go back before governments were so hot on keeping records about everything & you’ll find that any couple who chose to live together was basically considered to be married.
World has moved full circle and as a de facto couple you are pretty much treated the same as a married couple these days.
Melbear is correct that the assets you bring to the relationship are not automatically considered as jointly owned, however if you & your girlfriend separated, a claim by either of you may extend to a proportion of these assets which were considered to be pooled when you first became De Facto.
So if you don’t want to make a commitment like that to your girlfriend – don’t move in with her.
And if the ‘big risk’ is your focus, not a BIG LOVE – then frankly you shouldn’t be with the lady.
One of the reasons for the failure of relationships IMHO is that the parties involved enter into them with reservations (so many fail) & try to keep themselves protected & separate emotionally & financially.
You can’t form a workable lifetime partnership on that basis
Cheers,
Aceyducey
FALCON,
If you’re entering into a defacto relationship, you will be subject to relevant State law (Federal Law relates to married couples).
From this site:
http://www.wattsmccray.com.au/papers/best_interests_of_the_child17
While the majority of people are able to come to an agreement about the division of property upon the end of a relationship those who cannot agree will need to apply to Courts.
Property settlement from a defacto relationship
The whole process of arranging a property settlement from a defacto relationship is different to that of a marital relationship. Whether the law will apply to the relationship will depend on a number of factors: the nature of the relationship, duration of relationship, date of separation and whether any substantial financial or non-financial contributions have been made to the relationship including those made to the home and care of children. Unfortunately, any contribution as homemaker or parent will be given less weight in a defacto relationship than in a marriage.
Whilst the Family Court will consider any future needs of the parties to a marriage the defacto law does not, thus making it more difficult, particularly for partner who has the care of the children and who has made considerable time and career sacrifices to care for the children and the home.
A claim must be made to the Court within 2 years after the date of separation. The Court in which the claim is made will depend on the amount of the claim. If the claim is less than $20,000 the matter is heard in the Local Court. If the claim is less than $250,000 it is heard in the District Court. Any claim above $250,000 is heard in the Supreme Court. Defacto property matters are not heard in the Family Court.
What then is a defacto relationship? The law considers a person is in a defacto relationship if two people over the age of 18 who are not siblings or a parent or child of the other live together as a couple. This definition includes same sex couples. This will not automatically mean that the Court considers the persons are in a defacto relationship. Other relevant factors such as the length and nature of the relationship, whether the persons finances are intertwined, whether others see the persons as being in a defacto relationship and whether the relationship was intended to be permanent.
To wed … or not to wed?
As always the decision will be a personal one. No one ever thinks about the end of a relationship when they are consumed with its romantic beginnings. It is now possible for couples who are intending to get married or continue in a defacto relationship to make a binding financial agreement (commonly called a prenuptial or cohabitation agreement) detailing how they expect their financial affairs are to be treated upon the unfortunate event of the end of their relationship. If you have any queries in relation to anything mentioned in this article you should talk to an Accredited Family Lawyer.
kay henry
Or look at establishing a ‘Trust’.. so the trust owns the IP’s..
Agree with the general consensus of the other posts here also..
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Just go and get married. It would make the Pope much happier than to have all this secular heathen running around owning all the property in God’s Own Country.
[evil4]
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