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Why Estate Planning for Blended Families Is Essential
Making a Will is important, particularly if you are part of a blended family. A blended family is a family in which one or both partners have a child or children from a previous relationship. Careful estate planning now should ensure that: All of your intended...
How Parents Can Help Their Children Buy Their First Home
Buying a first home has always been a financial challenge, but housing affordability in Australia has declined so much in recent decades that younger generations are struggling to gain entry to the property market at all. As a result, more parents wish to take...
Succession Arrangements for Family Companies
Family businesses are the backbone of Australia's economy, contributing over 70% of the nation's GDP and employing a significant portion of the workforce. However, their long-term success can be fragile, with only a fraction operated by the third generation....
Should You Do Your Own Conveyancing in NSW?
A conveyancing transaction involves transferring the legal title (ownership) of real estate from one party to another. For most people, buying or selling property is one of the highest-valued transactions they will ever make, and the legal work is usually referred to...
Due Diligence when Buying an Existing Business
If you are thinking about a new venture, expanding an existing business or entering a new market, one option you might consider is to buy an established business. There are advantages and disadvantages when buying an existing business compared with starting your own....
Succession Planning for Business Owners
As a business owner, you deal with many responsibilities, including having to decide what to do with your business when you move on. Sometimes the logical endgame for a business is to be wound up, but in most cases, the aim is a smooth transition to new ownership....
Self Managed Super Funds – Buying Property
Since 2007, self-managed super funds (SMSF) have been permitted to borrow money to invest in all types of real property including residential property, commercial property and industrial property. Prior to 2007, SMSFs could purchase property but were not permitted to...
Power of Attorney Abuse
A Power of Attorney is a legal document authorising a person to act for you and make binding decisions on your behalf. A Power of Attorney is usually prepared: to facilitate and complete transactions when you are unavailable to do so, for example while travelling; to...
Why Your Will Deserves a Second Look
Life is full of twists and turns. New beginnings like a growing family, exciting career milestones, or achieving lifelong dreams bring plenty to celebrate. But we also face difficult moments - unexpected losses, the end of relationships, or health challenges - that...
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...