What do executors do? Statutory obligations Executors in Queensland have statutory obligations that are set out under section 52 of the Succession Act 1981 (Qld) (“the Succession Act”). However, there is no exact guideline for executors to follow because their duties may vary depending on the size and complexity of the estate, as well as...
A possible point of failure in start-ups is an inattention to the legal relations of the involved parties, e.g. those between multiple cofounders, those between founders and investors, and those between the business and consumers. The common theme with these agreements is that they all, in some way, should protect the financial interests of start-ups...
What is an off the plan purchase? Generally speaking, when you purchase a property “off the plan”, you are purchasing a property that is not yet built, but is being proposed to be built in accordance with plans that have been drafted by a surveyor, and which show what the proposed property will look like...
A Testamentary Trust is essentially a trust that comes into effect upon the death of the testator (will-maker) and can be a useful estate planning arrangement in situations where extra flexibility is needed when the estate is disbursed to beneficiaries, such as circumstances where the beneficiaries are employed in high risk occupations (where their personal...
While we have reiterated the importance of having a current Will in many previous articles, (click here to read more), the importance of having a current Enduring Power of Attorney is just as important as having your Will in place. While a Will provides instructions for your executors in relation to the distribution of your...
If you are selling your property and have managed to get a buyer to sign a contract to purchase, then you will want to do everything you can to minimise the risk of termination of the contract and to make sure that the sale goes through. There are various situations which can arise during the...
In the same way that an individual can become bankrupt for failing to pay money when due, a company can be brought to a commercial end by being wound up for failing to pay its debts so it is vitally important if you run a company that you are aware of what a statutory demand...
If you are considering buying a house or have entered into a contract to buy a house, it is likely that you have included a finance clause to ensure that you can come up with the funds required for the purchase (i.e. getting a finance approval) (if not – please contact one of our property...
We hope that you found last month’s article regarding Retirement Villages valuable and informative, (click here to read it if you missed it) and this article will follow on from that article with a focus on aged care facilities / nursing homes to enable our readers to gain a greater understanding of the options available...
If you own real property and borrowed money from a bank or financial institution to use towards the purchase, then it is more than likely that the lender will register a mortgage over the property to protect its interests, and without knowing it, you may need a Release of Mortgage. In simple terms, the registration...
