The financial risk in giving personal guarantees in leases
If you are a director of a company entering a commercial or retail lease, a landlord will likely require you to give a personal guarantee for the company’s obligations under the lease. In such cases, directors should fully understand the extent of the guarantee they are providing and obtain appropriate legal advice to minimise financial…
Is a testamentary trust right for you?
One of the most loving things that you can do for your family is make plans for what happens after you die. This is particularly important if you have children or vulnerable adults who depend on you financially. A testamentary trust might be the right tool to help you look after those you love. What…
Family law and financial abuse
Financial abuse occurs where a person uses systematic coercion to control another family member’s access to money or assets, whether the victim of the financial abuse is currently in, or was in, an intimate relationship with the perpetrator. Financial abuse is considered a form of domestic violence. There is recourse and assistance available for people…
Contributory negligence – how it affects your compensation claim?
Contributory negligence occurs where an injured person (plaintiff) is found to have contributed to their personal injury in some way through their own negligence. Insurance companies, persons or organisations that are being sued for compensation (defendant), may try to use the defence of contributory negligence. They may do so by arguing the plaintiff is partially…
Buying a property at auction – Things you need to know BEFORE the auction day
Buying a property can be an intimidating process, especially at an auction where you are competing with other buyers and there is no cooling-off period. Many properties are sold at auction, particularly in a rising market, so it is important for buyers to understand the processes involved so they can bid confidently on the auction…
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 often in the interests of both parties if they are interested in…
Buying Land to Build Your Dream Home – Top Tips
Building their own home is a dream for many people, but it can be a more intimidating prospect than simply buying an existing house. One of the first and most challenging steps is to find the right plot of land. Unfortunately, this task does not end when you find vacant land (a difficult enough task…
Attending Compulsory Family Dispute Resolution – what to expect
Separating couples should make reasonable attempts to agree on the future living arrangements, care and responsibility for their children. The Family Law Act 1975 (Cth) provides that, unless there are extenuating circumstances, dispute resolution is compulsory if agreement cannot be reached, prior to bringing an application for parenting orders to the family law courts.
What does a public liability claim mean?
A public liability claim is a potential entitlement to compensation for injuries or harm suffered in a range of circumstances due to the negligence of another person or entity.
FAQ on Estate Planning
While many people are unlikely to nominate estate planning aka “Thinking about what will happen to my assets when I die” as being on their “most wanted things to do” list in reality, this is something that should be on all our “must do” lists.