Forums / Getting Technical / Legal & Accounting / Binding Financial Agreement

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  • Profile photo of PetePete
    Participant
    @pjewitt
    Join Date: 2015
    Post Count: 50

    Hi everyone,

    Has anyone here ever set up a binding financial agreement, and if so, how much did it cost? Have just been given a ballpark figure of 5-6k by a solicitor. I know it pays to shop around with just about anything so am curious to know if this figure is about right.

    I’ve seen online there are companies where you can buy a template for an agreement for a few hundred dollars, fill in the blanks and hand that on to a solicitor which will supposedly save money on preparation of the document.

    Terryw I know this is your area of expertise so am very interested to hear what your thoughts are, along with anyone else of course!

    cheers
    Pete

    Profile photo of Ethan TimorEthan Timor
    Participant
    @ethantimor
    Join Date: 2016
    Post Count: 282

    Would he interested to read @terryw opinion but my 2c are that any price from 0 to $10k would make sense.

    Agreements are binding, especially when they are written down. You could write one yourself if it’s super simple or use a template or engage a solicitor. IMHO, it all depends on the complexity of the issue and the level of confidence you want in ensuring the agreement is air tight 👍😎

    Ethan Timor | Aligned Finance Pty Ltd
    http://www.alignedfinance.com.au/
    Email Me | Phone Me

    Active Investor & Broker; Based in Northern NSW, servicing Australia wide; Author of '34 Proven Ways to Maximise Your Borrowing Power' (download free from our website)

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,190

    Pete

    Not my area but you are looking at $5k to 10k depending on how complex.

    Diy you will still need to pay lots of legal advice and amendments as it will be full of holes. Also each party needs a solicitor to explain it. The other side solicitor will also request amendments too.

    Terryw | Structuring Lawyers / Loan Structuring Pty Ltd
    http://propertytaxbook.com.au/
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of PetePete
    Participant
    @pjewitt
    Join Date: 2015
    Post Count: 50

    Thanks for your opinions guys.

    cheers
    Pete

    Profile photo of propertyboypropertyboy
    Participant
    @propertyboy
    Join Date: 2008
    Post Count: 216

    Hi Pete,

    I am also about to get married and would like to have a binding financial agreement drafted.

    I have found this place

    https://www.aussielegal.com.au/referral/findlawyer2.asp?state=vic&StateID=3

    They seem to charge just under 2k. Has anyone used them?

    Can anyone recommend a good solicitor in Victoria?

Viewing 5 posts - 1 through 5 (of 5 total)

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