8 11, 2017

Difficulties establishing a same-sex next-of-kin

2017-11-08T08:34:14+10:00November 8th, 2017|

Hypotheticals by Manny Wood. Published in the Coffs Coast Advocate on 21 October 2017. David and Robert have been in a same-sex relationship for many years. They own their home jointly and operate joint bank accounts. They have no children. They have not registered their relationship with Births, Deaths & Marriages. David has suffered a number of health problems recently and Robert is concerned, that if David’s health deteriorates to the point that he lacks the capacity to make his own medical decisions, he may not be recognised as David’s next-of-kin. […]

11 10, 2017

Inheritance received after divorce

2017-10-11T07:51:29+10:00October 11th, 2017|

Hypotheticals by Manny Wood. Published in the Coffs Coast Advocate on 14 October 2017. Chris and Mary have been married for eight years and have one child together. Chris and Mary separate and their child spends equal time with each of them. Four years after separation, Chris receives an inheritance of $500,000 from his late father’s estate. By this time the parties had been divorced. Mary commences action in the Family Court, seeking property orders that Chris’ inheritance be included in the matrimonial pool of assets and that she be entitled to a share of the inheritance. […]

11 10, 2017

Creative Estate Judgement

2017-10-11T07:41:19+10:00October 11th, 2017|

Hypotheticals by Manny Wood. Published in the Coffs Coast Advocate on 7 October 2017. Bob passes away, leaving a de facto spouse, Michelle and two adult children, Tina and Chris. Bob’s will appoints his children as executors. The will grants Michelle the right to reside in Bob’s house until she “may marry or enter into a de facto relationship” provided she pays all rates, taxes and insurance and keeps the property in reasonable repair. Michelle also receives the sum of $15,000 and Tina and Chris receive the balance of his $1 million estate, consisting of a number of parcels of real estate and $200,000 in cash. […]

11 10, 2017

Unsuccessful Claim Relating to a Dog Attack

2017-10-11T07:34:10+10:00October 11th, 2017|

Hypotheticals by Manny Wood. Published in the Coffs Coast Advocate on 23 September 2017. Brent, a 6-year-old child, was visiting a home rented by Cynthia from ACT Housing Commission. Cynthia owns two dogs and unfortunately one of the dogs attacks Brent causing him serious injury and the dog was subsequently destroyed. Brent, by his father, sues ACT Housing rather than Cynthia, who has no assets or insurance. […]

9 10, 2017

Conveyancing Trap

2017-10-09T14:56:18+10:00October 9th, 2017|

Hypotheticals by Manny Wood. Published in the Coffs Coast Advocate on 16 September 2017. Andrew is keen to purchase Kay’s property and after obtaining pest and building reports, he wishes to proceed. Andrew’s solicitor obtains and reviews the contract. Andrew informs his solicitor that he does not have the usual 10% deposit available and enquires as to whether he can pay a 5% deposit. The vendor wishes to secure the sale as soon as possible and reluctantly agrees to accept a 5% deposit. The contract includes a “special condition” to the effect that if Andrew defaults under the contract, the vendor can claim the full 10% deposit. [...]

9 10, 2017

When a loan is a deemed to be a gift

2017-10-09T14:29:20+10:00October 9th, 2017|

Hypotheticals by Manny Wood. Published in the Coffs Coast Advocate on 9 September 2017. Alan and Sharon are looking to purchase a new home for $1.5m. They obtain a loan from their bank for $400,000 and Alan’s mother Vicki, advances the rest of the money. Alan and Sharon sign a loan agreement with Vicki, to the effect that the money advanced by her is a loan, repayable upon demand. […]

9 10, 2017

When step-children become your children

2017-10-09T13:32:33+10:00October 9th, 2017|

Hypotheticals by Manny Wood. Published in the Coffs Coast Advocate on 2 September 2017. Kimberley and William had been happily married for many years. Kimberley had two children to a previous relationship. William did not have any children of his own. Kimberley and William made “mirror wills” leaving everything to each other with the survivor ultimately leaving everything to the survivor’s “children”. Kimberley passed away in 2016 and pursuant to the terms of her will, William received the whole of her estate. […]

24 08, 2017

Are you Buying a Home?

2017-08-24T13:55:15+10:00August 24th, 2017|

What You Should do up to Exchange of Contracts. Finance for Purchase When you are out looking to purchase a home,  before you actually start inspecting properties and putting offers in, it is most important that you work out your finances and what you can afford. You should seek a pre-approval of a loan from the Bank if you need to borrow. Subsequently, prior to exchange of contracts or before bidding at an auction, you should get unconditional approval of your loan.   Exchanging Contracts with a Cooling off Period When discussing the purchase of the property with the real estate agent you may be anxious [...]

24 08, 2017

Accountant Liable as Employment Advisor – Quarterly Newsletter

2017-08-24T12:52:44+10:00August 24th, 2017|

A recent decision of the Federal Circuit Court has confirmed that accountants can now be held liable for the underpayment of their client’s employees. This follows other recent decisions in which an HR advisor and a payroll manager have been found personally liable for similar underpayments. Businesses that play an advisory role in employment matters should take extra care to ensure they provide appropriate advice to their clients. The Fair Work Ombudsman has demonstrated that businesses who turn a blind eye to underpayments and other non-compliance by their clients are placing themselves at risk. The Decision After investigating allegations that two fast food employees were being [...]

24 08, 2017

Family Provision Claims – Quarterly Newsletter

2017-08-24T12:39:54+10:00August 24th, 2017|

Many of my clients ask me about contesting wills. Some of my clients wish to leave a family member out of a will. Others have been left out. Here is a brief rundown on the current state of play. Who can claim? Children and spouses can make a claim. De facto spouses, including de facto spouses who have not been in a relationship for more than two years can make a claim. Former, yes former wives or husbands can make a claim. People who have been dependent upon you can make a claim. Parents, siblings and grandchildren cannot claim, unless they have been dependent. Are there [...]

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