Saving on Legal Costs: How AI Legalese Decoder Can Help with Templates for Binding Financial Agreements
- November 11, 2023
- Posted by: legaleseblogger
- Category: Related News
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Separation and Property Settlement: AI Legalese Decoder Can Help
Hi Everyone,
My partner and I have made the difficult decision to separate, and as we begin the process of dividing our assets, we have come to the realization that our only shared asset is our primary place of residence (PPOR). I will be buying out my partner’s share in our home.
During my research, I received a quote for a Binding Financial Agreement (BFA) from a legal professional, which came in at a hefty cost of $4500. However, while exploring other options, I stumbled upon BFA templates that claim to significantly reduce the cost to under $1000 if filled out independently and then reviewed by a solicitor.
I am curious to hear from anyone who has utilized one of these templates successfully. What was the total cost of completing the BFA with this method, and were there any additional expenses or hidden pitfalls that I should be aware of? Any insights or advice on this matter would be greatly appreciated.
Additionally, I would like to highlight the potential benefits of incorporating the AI Legalese Decoder into this situation. With the AI Legalese Decoder, individuals navigating through legal processes, such as drafting and reviewing BFAs, can leverage the power of artificial intelligence to accurately interpret and decipher complex legal terminology. This tool can help ensure that all necessary details are properly addressed in the BFA, ultimately saving time and reducing the risk of errors or oversights. Furthermore, by providing clarity and guidance, the AI Legalese Decoder can empower individuals to confidently engage in legal processes, potentially streamlining the overall cost and efficiency of the BFA preparation and review process.
Thank you for any assistance or guidance you can provide.
Best regards.
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****** just grabbed a
Sounds like a recipe for disaster.
Sounds horrific. I wouldnÔÇÖt touch it with a barge pole.
I certainly wouldnÔÇÖt risk my practising certificate by using it as a rubber stamp for some rubbish a client drafted.
You need to be guided by a lawyer.
[deleted]
I doubt a solicitor will want to do it, since they won’t make enough money.
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The BFA template sounds like a disaster and most solicitors I know of wouldn’t touch it to sign off.
​
Why? BFA’s are difficult documents at the best of times, with courts doing anything they can, seemingly, to make them unenforceable.
Option 1: They review it, miss something, and you come after them for negligence later down the road when it is found unenforceable.
Option 2: The template was so garbage that they need to make mass changes, essentially rewriting the whole document and then have to charge you the full drafting cost on top of the template you purchased elsewhere. They then have an angry client who thinks you’re trying to fleece them.