There are few more important transactions than buying real estate. You are making a major financial investment and the purchase is likely to result in changes to your personal life. Buying real estate is usually an emotional process and it is important to make sure that you are not “blinded” by this emotion.
The issue of succession planning for family businesses is critical. In fact, research shows that only 30% of family businesses survive in the second generation, and 15% survive in the third generation.
There are many structural benefits associated with Testamentary Discretionary Trusts including asset protection and taxation. This Plain English Guide answers some of the more commonly asked questions about creating a Testamentary Discretionary Trust.
For parents or family members of individuals affected by disability, the question of who will look after that individual when they are gone is often a difficult one. In some instances, a Special Disability Trust (either set up by a trust deed or under the provisions of a will) may be the most appropriate tool to provide for that person into the future.
We all prefer to decide for ourselves where we live, who we see, which doctor we go to, what medical treatment we will receive and what services we will have. Unfortunately this is not always possible. Every day people are involved in accidents or become sick. Sometimes this can lead to them being unable to make decisions for themselves.
The aim of Estate Planning is to ensure ongoing financial security for you and your spouse during your lifetimes; and to secure a cost effective and seamless transition to your nominated beneficiaries after your death in such a way as to maximise the value of your estate.
This Plain English Guide answers some of the more commonly asked questions about granting Power of Attorney, but remember that your lawyer is available to answer any other questions or provide advice when you need it.
This Plain English Guide answers some of the more commonly asked questions about the role of Executor, but remember that your lawyer is available to answer any other questions or provide advice when you need it.
Making a Will is an essential step in ensuring that your assets pass to the people that you choose. A Will is a legal document that appoints your personal legal representative (your “Executor”) upon your death and names the people that you want to receive the property and possessions you own at the date of your death.
Effectively preparing for your Family Mediation conference will help you to get the most out of the Family Mediation process. This Plain English Guide provides an overview of the steps that Coleman Greig suggests you take in the lead up to your Family Mediation, and discusses a range of things that you should take the time to properly prepare for.
The long delays and backlogs in the Family Courts have been well-publicised. These delays no doubt cause frustrations, and can be very costly for the parties involved. For this reason, the court endorses that parties resolve their disputes privately through Family Mediation, one of the more popular Alternate Dispute Resolution (‘ADR’) processes.
Family law matters can place serious financial and emotional stress on all those involved in the related court cases. It is therefore no surprise that the long delays and under-resourcing of the Family Court system has placed a significant strain on parties and their families.
The treatment of superannuation in a property settlement between separating couples was historically a problem area because of the special qualities of superannuation interests.
The Family Law Act makes provision for binding financial agreements between parties to a marriage and between parties to a de facto relationship. These agreements can be made before, during or after the marriage or de facto relationship. Agreements entered into before a marriage are colloquially known as ‘prenuptial’ agreements.
The law encourages separating parents to reach agreement about matters concerning their children. Parents are encouraged to take responsibility for their parenting arrangements and for resolving parental conflict; to use the legal system as a last resort rather than first resort; to minimise present and the possibility of future conflict by reaching a negotiated agreement; and to regard the best interests of the child as the paramount consideration.
This Plain English Guide sets out some of the key provisions of the Family Law Act as it relates to children and what the Court will take into consideration when determining what arrangements should be made and who will have responsibility for the children.
When parents separate, proper arrangements need to be made for the financial support of their children. The obligations of parents to provide for their children are governed by the Child Support Scheme. This Plain English Guide sets out some of the more commonly asked questions regarding child support.
If you and your partner separate, you need to consider what is to happen in relation to the division of any property that you own. The Family Law Act provides for property settlements between couples who are, or have been, married and also couples who have been in a de facto relationship.
Separation is a stressful time for individuals and families. At Coleman Greig our family lawyers can help you through the process by providing the benefits of many years of practical experience in all aspects of family law.
The confidential information of a business is what enables it to exploit its goodwill, which in most cases is its single most valuable asset. The unfortunate reality is that some of the biggest risks to the profitability of a business come from within.
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