123 Social security laws recognize that family contracts can be entered into to help the elderly. In general, there are restrictions on the amount of assets that can be granted by a person without reducing the right to the old-age pension or the amount of the old-age pension. “Granny Flat Interest Rules” reduces the effect of these rules. It is almost always better to settle a dispute itself as the courts solve your problem for you. It is generally cheaper to settle a dispute rather than bring it to justice, and negotiated transactions generally give you the best possible chance to maintain a pretty decent relationship in the future. Family law agreements also offer you an incredibly flexible way to resolve your dispute. Your agreement can be tailored to your particular circumstances and needs and can be much more creative in solving a problem than a court decision could ever be. Injustice is a key element of the family law testing to set aside the parts of the ownership and debt sharing and spising assistance agreements, as we did in paragraph 93, paragraph 3 above. 124 It is recommended, but does not require that the existence of a “granny interest” for social security purposes be documented in writing. The requirement for some kind of documentation of such an interest for the purposes of the old-age pension may encourage a person to receive professional advice on such an agreement and offer protection to the elderly in the event of non-compliance with an agreement. 119 Recognizing the role that lawyers can play in preventing financial abuse of former Australians, Seniors Rights Victoria (SRV) Assets for Care: A Guide for Lawyers to Assist Older Client at Risk of Financial Abuse, which contains a list of points to consider when developing an agreement.
SRV also contains a standard family agreement on its website that lawyers can use. The last part of a family law agreement is where each party will sign its names in the presence of a witness. The parties can sign the agreement simultaneously or separately, at different times and at different locations. One way or another, the signature of each party must be certified and the witness, after seeing that the party has signed the agreement, must sign his own name as a witness to the agreement. The witness usually provides other information, usually their full name, address and occupation. It is important to know that you do not need a marriage or life agreement just because your partner wants it, or simply because you are about to get married or live with someone. While your partner wants you to sign an agreement, you are not required by law to do so. With or without a family law agreement, recourse under the common law, divorce or family law are almost always possible in the event of future problems. Family law agreements deal with really important things, such as where the children live, who provides assistance to whom and how the parties distribute their property.
As a result, the terms of the agreement are almost always the result of many discussions and negotiations. In principle, anyone who enters into a family law contract should be independently advised by their own lawyer before the agreement is signed: 113 A certain type of financial abuse has been acknowledged in family contracts.