News

Financial Agreements as an Estate Planning tool

A Financial Agreement is an effective tool for couples in managing their estate planning. Financial Agreements allow couples to pre-determine what they quantify as a fair distribution of their finances and assets, in the event of a relationship breakdown, death of one party, or mental illness. What is a Financial Agreement? As mentioned above, a Financial Agreement is an effective tool that helps couples determine ownership of assets and/or liabilities of their marriage or de facto relationship. Financial Agreements can...

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‘Click here’ – electronic execution of documents is here to stay

The COVID-19 pandemic not only brought with it changes to how we live our lives, but also clarified the validity of some increasingly common business processes. One of those innovations relates to the way in which documents may be executed by companies. Prior to March 2020, the validity of documents executed in split form or electronically was unclear subject to Court consideration. The safest approach to ensure that a document was properly executed in accordance with the Corporations Act 2001...

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Director Identification Numbers – deadlines approaching

From 1 November 2021, the Corporations Act 2001 requires all company directors to verify their identity, apply for, and obtain a Director Identity (director ID) through the Australian Business Registry Services (ABRS). If you are a director of an Australian or registered foreign company, or registered Australian body, you have until 30 November 2022 to apply for your director ID. Failure to do so is a criminal offence with the Australian Securities and Investments Commission (ASIC) who is empowered to...

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Farm succession planning – striking a balance

The diversity of a family farming enterprise amidst the dynamics of the family unit can raise challenging and complex issues. The topic of succession planning is often highly emotive. The respective contributions from individuals to the farming enterprise are likely to have varied over the years and not all family members’ motivations run parallel. It is not difficult to see why succession planning is often pushed aside until it becomes urgent. Succession planning should not however take a back seat....

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Key considerations for controlling business debtors

While growing your business it can become easy to lose sight of effectively managing your debtors.  However by doing so, you can help your business continue to grow successfully. The information below can help make the task of controlling business debtors much easier. Have terms of trade in place before extending credit and know who is behind the customer Make sure you put all terms of trade in writing.  It’s surprising how many businesses still supply goods and services by...

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Sexual harassment in the workplace

Sexual harassment is unfortunately still a common occurrence in the workplace. The Sex Discrimination Act 1984 (Cth) (Act) describes sexual harassment as any unwelcome conduct of a sexual nature.  It also makes sexual harassment in the workplace unlawful. There are many examples of behaviours that amount to sexual harassment. If you are an employer, you have a duty to prevent, to the best of your ability, sexual harassment occurring in your workplace. There are various things you can do to ensure you...

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Why everyone needs a Power of Attorney

Most people over 18 years of age should consider having a Power of Attorney in place. A Power of Attorney is a legal document made by a person (known as the principal) that authorises one or more others (known as the attorneys), on behalf of the principal, to do anything the principal can lawfully do. The extent of matters that can be authorised under a Power of Attorney is specified in the document and may range from a one-off transaction,...

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Options to renew in commercial leases – don’t get caught out!

An option clause is a term in a commercial lease that allows a tenant to renew their lease at the end of the original lease period, if they meet certain conditions. Landlords are not obliged to offer a renewal option. However, it is usually in the interests of both parties if they are interested in a long term commercial relationship. It is important you understand the steps you need to take if you want to exercise the option to renew...

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Contesting a Will

All jurisdictions in Australia provide statutory rights for eligible persons to contest a Will on the basis that they have not been left adequate provision by the testator for their proper maintenance, education, and advancement in life. In Western Australia, an eligible person generally includes: a spouse or de facto partner; a person receiving or entitled to receive maintenance from the deceased as a former spouse or de facto partner; a child of the deceased; a grandchild of the deceased,...

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Elder Abuse

It’s hard to imagine that somebody would harm, intimidate or take advantage of an aged and vulnerable person. Unfortunately, however, elder abuse occurs within our society and sadly, the perpetrators are often those entrusted with caring for our older generation. Elder abuse can be defined as a single or ongoing act or omission that causes harm or distress to an aged person. Abuse can generally be categorised as: physical - pushing, shoving, rough treatment or sexual abuse; neglect - failing...

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