estate planning melbourne

The Correct Way to Transfer Control of Your Family Trust

The Correct Way to Transfer Control of Your Family Trust Many small businesses and farming businesses are run in a family trust structure, and many families use family trusts as an investment vehicle, and perhaps own their investment properties in a family trust. Family trusts can be a great vehicle, particular for those who set […]

ACQ5 awards - wills and estates lawyer of the year

ACQ5 Global Awards 2016 – Wills and Estates Planning Lawyer of the Year

ACQ5 Global Awards 2016 – Wills and Estates Planning Lawyer of the Year TBA Law proud to announce that we have won another business award in a global industry magazine. ACQ5 announced to the world the winner of the 11th Annual ACQ5 Global Awards for 2016, and we were one! The 11th Annual ACQ5 Global […]

equal inheritance to children

Equalising Inheritance Through Your Will

Equalising Inheritance Through Your Will People will often want their children to have an equal share in their estate, and in giving instructions like this is a solicitor, many may not consider non-estate assets. If a will-maker truly wants their children to all be treated equally, then they also have to consider: pre-death gifts the […]

mistakes powers of attorney

5 Things To Never Do When Appointing a Power of Attorney

5 Things to Never Do When Appointing a Power of Attorney There are two primary enduring powers of attorney available in Victoria. One is for medical treatment, and the other covers financial, legal and personal matters. An attorney appointed for you must act in your best interests, but not in the best interests of your […]

unfair terms

Consumer Protections Extending to Small Businesses

Consumer Protections Extending to Small Businesses Commencing on 12 November 2016, small businesses will have some of the protections that consumers have under the Australian Consumer Law. Traditionally, consumers are protected from unfair terms when buying goods or services from businesses, and this will continue. These protections will be extended to small businesses, so that […]

self-managed super fund

If You Have A SMSF …

If you have a SMSF, what other documents should you have? Superannuation is holding more and more of our wealth. If you have a self-managed superannuation fund (SMSF), you have an more immediate responsibility to make sure that it operates correctly, and that you have considered all the succession factors you need to. The Trustee […]

same sex couple

Case Study: Same Sex Couple

Case Study: Same Sex Couple Mitchell and his partner, Cameron, live together with their young adopted daughter, Lily. They are modestly wealthy, their home being worth $800,000 with a $250,000 mortgage remaining. They each have superannuation of approximately $200,000 and life insurance each of $500,000. In Australia, as a same sex couple Mitchell and Cameron […]

estate planning blended family

Case Study: Blended Family

Case Study: Blended Family Jay needs to do his Will and estate plan. He and Gloria are married, but Jay has two adult children from his first marriage, Claire and Mitchell. Gloria has one child from a previous relationship, Manny aged 10, who lives with her and Jay. Jay and Gloria have just had a […]

bankrupt estate

The Truth About Insolvent Estates

The Truth About Insolvent Estates What happens when someone dies insolvent, meaning that they have more debt than assets? The first myth is that the executor will be liable for the debts. This is not true, if the executor acts honestly and does his or her job properly. The executor should not be personally liable […]

repairs and maintenance

Repairs and Maintenance

Repairs and Maintenance Lease Series 4 of 4 As most would know, the requirements on the landlord to maintain a premises depends on whether the premises is a residential premises, a retail premises under the Retail Leases Act, or a commercial premises. Landlords bear all the obligations under a residential lease to keep the premises […]

Lease renew

Notices To Renew

Notices To Renew Lease Series: Three of Four There is s hidden trap in the Retail Leases Act that landlords should be aware of: make sure you give your tenants notice in writing of the last date they can exercise their option to renew. Most landlords miss this requirement, and even some managing agents miss […]

retail leases

What Are Retail Leases?

What Are Retail Leases? Leases Series: Two of Four For those you have commercial or industrial properties that you lease out, or if you are a tenant leasing a commercial or industrial property, you might be interested to know that the Retail Leases Act and all its additional benefits may apply to you after all. […]

Air bnb leases

AirBnB

AirBnB Leases Series: Part One of Four You will have had to be living under a rock not to have heard of a few of the latest USA imports which are disrupting industries. Uber is disrupting the taxi and ride-share industry, and AirBnB is disrupting the holiday rental and hotel industries. AirBnB is an easy […]

self-managed superannuation fund

7 Secrets About Your Self-Managed Superannuation Fund

7 Secrets About Your Self-Managed Superannuation Fund It’s no secret that the government is currently looking at changing rules around superannuation, but what are some things that already apply to our superannuation that you don’t know? Where are the governing rules of your self-managed superannuation found? There are detailed rules in legislation governing superannuation. However […]

simple will

When Does a Simple Will Become Complex?

When Does A Simple Will Become Complex? Solicitors are loath to call even a “simple will” a simple will these days. There are so many aspects to the wording used that the layman doesn’t understand, not to mention the trustee powers that need to be included. But even when a will is relatively simple, there […]

Avoid disputes

How To Quickly and Easily Avoid Disputes with Your Business Partner

How to Quickly and Easily Avoid Disputes with Your Business Partner Not having a buy-sell agreement with your business partner is a critical mistake that so many business owners make. Whether you are partners, shareholders in a company, or unitholders in a unit trust, you should have a buy-sell agreement. A buy-sell agreement won’t completely […]

exit strategy

Exit Strategy for Tradies

Exit Strategy for Tradies Harris Business Solutions held an information evening for tradies on 23 June 2016 at Hogan’s pub in Wallan. Here’s my presentation from the evening:   Click here to download the Buy-Sell Agreement checklist

estate plan

Case Study: Estate plan for well-off nuclear family

Case Study: Estate Plan for well-off Nuclear Family Phil and Claire are married. They have three children, two to whom are still minors; Hayley, Alexis and Lucas. Most of their assets are jointly held: their house and bank accounts. Phil has a thriving real estate business in his own name. The total value of their […]

estate planning presentation

Estate Planning Presentation

Estate Planning Presentation This is a presentation that I’ve given at a few different locations. I thought I would record it an make it available for everyone.

minor's trusts

A Tricky Secret About Minor’s Trusts

A Tricky Secret About Minor’s Trusts In a Will, we will often leave our entire estate to our children once both spouses have passed away. If those children are still minors (under the age of 18 years) then they cannot inherit until they reach that age. Quite often, in our Wills, we will say that […]

superannuation death benefit

Who Can I Leave My Super To?

Who Can I Leave My Super To? Superannuation death benefits are not your estate assets – you have to nominate with the trustee of your super fund who you want your death benefit to be paid to.

Will for a single man

Case Study: A Will for an Older, Single Man

In our case study, Jay and Gloria divorce. Gloria and Manny return to Columbia and take Joe with them. Jay and Gloria reach an amicable property settlement. Jay has two adult children from his first marriage, Claire and Mitchell, and he has the young Joe from his marriage to Gloria. Jay still has significant assets […]

trust in will

Protective Trust

Protective Trust In each family there is often a financially irresponsible child, but when it goes one step further and that child is a gambler, or has a drug or alcohol problem, you will probably want to make sure that your child does not squander your hard-earned estate when they inherit it. Cutting them out […]

What it Title Insurance?

What is Title Insurance? by Jacqui Brauman Title insurance is a relatively new concept, and something that I only came across in the last 4 years. I have adopted it into my practice in the last two years, and offer it to clients as an extra protection. It also offers me some cover, because if […]

guardians for children

5 Tips for Appointing Guardians For Your Children

5 Tips for Appointing Guardians for Your Children by Jacqui Brauman If you have children, you can’t leave their future uncertain. Updating our Wills is usually the item on our “list of things to do” that never gets done. Quite often, if our Wills aren’t up to date, or we don’t get the proper advice, […]

trusts in will

Estate Proceeds Trusts

Estate Proceeds Trusts: a case study by Jacqui Brauman This case study will illustrate what an estate proceeds trust is, and how it can be used when the Will was a basic Will that didn’t set up the trust itself. In this example, Nicole’s husband Daniel has died in an accident. They have two primary […]

Google if you die

Google’s Inactive Account Manager

Google’s Inactive Account Manager by Jacqui Brauman Harry and his wife Patricia have been married for 20 years. They are an active young family with three young boys in primary school. Harry is a self-employed online marketing consultant who earns enough that Patricia doesn’t have to work, and also has flexible hours so that he […]

What Should Executors Look Out For in a Will?

What Should Executors Look Out For in a Will? by Jacqui Brauman If you’re serving as the executor of someone’s estate, it may not be enough to read the provisions of the Will and follow what it says. Not only are there subtle terms of construction and jargon in Wills, but there may also have […]

new office

2016: Where We Are Now

Where We Are Now: Business Update Post by Jacqui Brauman 2015 was a really big year for us, so I wanted to recap and let you all know a little bit about the plans for the future. Most of you will now that I bought this business in October 2012, so I’ve been at it […]