Blog
Should a trust deed have a power to vary its provisions?
It is common to find that, over time, the terms of a Trust may need to be updated or revised, usually because of changes to the law, including tax and duty laws. Not having a power to vary the terms of a Trust can have significant issues and create unnecessary financial impositions.
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Guide to family law reforms effective from May 2024
Most of the amendments to the Family Law Act 1975 came into effect on 6 May 2024. The changes will apply to new and existing matters. This means that if you have a family law matter already before the Court and the final hearing had not commenced prior to 6 May 2024, the new laws will apply.
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Choosing the right entity when purchasing property in NSW
Whether you are a first home buyer or an investor, taking time to consider what entity to purchase a property under is an important consideration. Not only will the purchasing entity have an impact on ownership of the property, but it may also have financial and liability consequences that purchasers need to be aware of.
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What are make good obligations in commercial and retail leases?
Most retail and commercial leases will have a clause dedicated to the issues relating to repairs and maintenance of the premises while a tenant is in occupation. Generally speaking, when the term of the lease ends, the tenant has an obligation to make good the premises to the condition that they were in at the commencement of the lease.
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Should I have a lawyer for my family law mediation?
Mediation is a popular method of dispute resolution for family law matters. Despite it being more efficient and cost-effective than court proceedings, it’s common for parties to a family law dispute to be unsure where to start.
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Timing the withdrawal of your superannuation to be tax effective
As the population ages, the issue of timing the withdrawal of funds you’ve accrued in your superannuation account(s) becomes more important. Withdrawing from your super too early, you may miss out on the favourable tax treatment. Not withdrawing in time and your money may be subjected to tax which might otherwise not have applied.
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Understanding deposit bonds in real estate transactions
A deposit bond is an alternative to the traditional cash deposit paid when entering into a real estate contract. This article demystifies the concept, shedding light on what it entails and providing valuable insights for clients considering its use in real estate transactions.
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Retaining assets in joint names after separation or divorce
When a separation or divorce is being considered, a common question often arises of whether parties can keep assets in joint names, even after finalising their family law property settlement. In this blog, we explore the risks of retaining joint assets after separation or divorce.
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When should I review my Binding Death Benefit Nomination?
If you’ve made a Binding Death Benefit Nomination to deal with superannuation fund moneys after death, and you’ve either nominated your legal personal representative in your Will or a particular person, then just like your Will, it may need to be reviewed and revised from time to time.
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How can I stop my kids from challenging my Will?
Contemplating leaving a child out of your Will is a common issue that arises in families, particularly where one or more of the children are seen as the “black sheep”. In very general terms, kids might challenge the Will you make in three areas.
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Duties of a trustee
In very general terms, a trustee holds assets of a Trust, manages those assets and deals with the capital and income in accordance with the terms of the Trust. The trustee owes a duty directly to the beneficiaries and must always act in the best interest of those beneficiaries.
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What is a partial property settlement?
Even the most amicable of family law matters can take a significant period to be finalised by way of Court Orders. A common question we are asked is, "How do I pay my expenses and legal fees until the completion of my matter?" One option may be to apply for partial property settlement.
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