Newsletter – April 2015
Welcome to the April 2015 edition of the ABKJ newsletter. In this issue… When Spouses Say “You’ll Get Nothing” Recovery of Unpaid Body Corporate Levies Supporters of “The Long Road” Charity Event When Spouses Say “You’ll Get Nothing” We are approached by clients on a regular basis who are undergoing relationship breakdowns and whose spouse or partner has said to them “I have spoken to a lawyer and they said that you will get nothing” This is rarely correct. Even if all the property is owned by your partner, you may be entitled to something. The amount of your entitlement… Continue Reading
On 1 December 2014, the Property Occupations Act 2014 (Qld) and the Land Sales and Other Legislation Amendment Act 2014 (Qld) commenced which enacted various changes to pre-existing and off-the-plan residential property purchases. The principal changes are: 1. Real Estate Agent Commissions Perhaps the most interesting change to the industry is the deregulation of agent commissions. Under the previous legislation, the maximum commission a real estate agent could charge with respect to a purchase or sale of residential property was calculated as a percentage of the sale price stated in the Contract (5% of the first $18,000.00 and 2.5% of… Continue Reading
Executor’s Checklist
Locate the deceased’s Last Will & Testament Confirm you have been appointed the executor of the estate and check whether the Will contains any wishes of the deceased concerning their funeral arrangements or burial. Liaise with a funeral director regarding funeral arrangements ensuring you have confirmed the following: The estate has sufficient funds to pay for the funeral. If the funds have been frozen or there are insufficient funds, please refer to the Frequently Asked Questions; The manner in which the funeral home will require payment and how/when payment is required to be made; and Whether the deceased has funeral… Continue Reading
9 Tips On Buying A Property
Purchasing a home or an investment property on the Gold Coast (or anywhere for that matter) can be both an exhilarating and stressful experience for the parties involved. Our Property Lawyers have put together this list of helpful tips to consider before you sign on the dotted line which will hopefully save you from the stresses involved with buying a property: Before you sign a contract, make sure the purchasing entity is correctly described. Talk to your banker or accountant before you sign a contract to make sure the purchasing entity is correctly described. In particular, if you’re obtaining finance,… Continue Reading
Newsletter – September 2014
Welcome to the September 2014 edition of the ABKJ newsletter. In this issue… Nine Tips When Buying a Property Reducing The Risk Of Estate Litigation Nine Tips When Buying a Property Purchasing a home or an investment property can be both an exhilarating and stressful experience. Here are some tips to consider before you sign on the dotted line: Talk to your banker or accountant before you sign a contract to ensure the purchasing entity is correctly described. In particular, if you are obtaining finance, the name you place on your finance application must match the contract. Purchasers often omit… Continue Reading
You cannot avoid estate litigation even if you feel you have the perfect Will. Every person has a right to contest the terms of a Will or Codicil, no matter how careful you are in drafting it. Whether that person will be successful is a different matter and the amount of legal fees expended will depend on what action you took in drafting your will, whilst alive, to minimise the risk of litigation. If you anticipate your estate will be contested after you die, there are some factors you can take into consideration in an attempt to reduce the risk,… Continue Reading
Newsletter – July 2014
Welcome to the July 2014 edition of the ABKJ newsletter. In this issue… “Do-It-Yourself” Will Kits Staff Announcements “Do-It-Yourself” Will Kits Members of the public are often presented with “Do-It-Yourself” Will kits from a variety of sources which are provided at little or no cost. The preparation of what is presumed to be a straightforward document for minimal expense, in comparison to the fee which would need to be paid to a lawyer to meet with you and prepare a traditional form of Will, can turn out to be a costly decision for your estate. The uncertainty of meaning, and… Continue Reading
Members of the public are often presented with “Do-It-Yourself” Will kits from a variety of sources which are provided at little or no cost. The preparation of what is presumed to be a straightforward document for minimal expense, in comparison to the fee which would need to be paid to a lawyer to meet with you and prepare a traditional form of Will, can turn out to be a costly decision for your estate. The uncertainty of meaning, and the oversight and omissions which frequently plague such documents provides a fertile ground for estate litigation. Some common difficulties arising with… Continue Reading
Newsletter – March 2014
Welcome to the March 2014 edition of the ABKJ newsletter. In this issue… Joint Tenants vs Tenants in Common Proud supporters of The Pyjama Foundation’s “The Long Road” Charity Event Joint Tenants vs Tenants in Common When you purchase property with another person, your solicitor will ask you: Joint Tenants or Tenants in Common? The purpose of this article is to explain the difference between these terms and how your decision can affect you in the future, particularly from an estate planning perspective…read the full article. Proud supporters of The Pyjama Foundation’s “The Long Road” Charity Event The Pyjama Foundation… Continue Reading
What Is Meant By Probate?
Probate is derived from the word “prove”. It is a process whereby the Supreme Court becomes satisfied that the will of a person who has died is the correct last will of the deceased and issues a certificate to that effect called probate. Once the Court issues probate of a will, the probate can be produced to any interested party who will then deal with the executor named in the will knowing that they are dealing with the person who has authority to deal with the assets of a deceased person. An executor is not required to apply for probate… Continue Reading
