A Powers of Attorney Amendment Bill 2016 has been introduced to parliament. The Bill proposes to make various changes to the principal Act, the most welcome of which is to clarify that multiple alternative attorneys can be appointed for one principal attorney or supportive attorney. Other notable changes include: removing the option to make a […]
In 2013 the previous State Government legislated to limit the circumstances in which persons injured in transport accidents could sue for common law damages. The restrictions principally affected those suffering accident-related psychological injuries. The legal profession has been lobbying long and hard to have these changes revoked. It is pleasing to note that the Andrews […]
An elderly self-managed superannuation fund (SMSF) trustee was convinced that his adult son, who is not financially dependent on him, would receive all his superannuation savings upon his death totally tax-free. The trustee thought that because his adult son is classified as a “dependant” under the superannuation law, he would receive the benefit tax-free. He […]
The Powers of Attorney Act 2014 (the Act) will commence on 1 September 2015. The purposes of the Act are to: clarify and consolidate Victoria’s enduring powers of attorney laws create the role of supportive attorney improve the protections against abuse of enduring powers of attorney. Powers of Attorney made under existing legislation will remain […]
On 23 June 2015 the Federal Court of Australia gave judgment in an appeal from a decision of the Superannuation Complaints Tribunal (“SCT”) to affirm the trustee’s determination to pay death benefits to the deceased’s adult children. The decision can be accessed here: http://www5.austlii.edu.au/au/cases/cth/FCA/2015/612.html The deceased made no binding death benefit nomination and the legal […]
The Federal Government recently announced substantial increases in fees to be paid to both the Family Court and Federal Circuit Court in respect of family law cases. The legal profession through both the Law Council of Australia and the various state representative bodies (including the Law Institute of Victoria) has voiced opposition to the fee […]
There is no formal requirement that a lawyer must draw up the will, but if the will-maker is in doubt as to any proposed provision, either a solicitor, the State Trustees, or any private trustee company should be consulted as to the wording of the proposed will. A will is an important document as it […]
There is no obligation that you must accept the role of executorship, even if you had agreed with the will-maker that you would. If you don’t want to act when the time comes, and you have not meddled into estate property, you can give up the right to do so. To do this you renounce […]
There are two ways of co-owning property – JOINT TENANTS AND TENANTS IN COMMON. The legal entitlements of these are different, with different outcomes for ownership interests on death. Co-ownership of property in these ways is not restricted to real estate, but can apply to other forms of property, such as joint bank accounts and […]
Restraint of trade clauses are now quite commonly used in employment contracts, but this wasn’t always the case. A covenant in restraint of trade, also sometimes referred to as a ‘non-compete’ clause, is a term in an employment contract that requires an employee, after leaving an employer, not to perform a particular type of work […]