Legal Resources
Read Phillips & Wilkins’ updates and latest information
Material Facts and the Sale of Land Amendment Act
From 1 March 2020, the Sale of Land Amendment Act 2019 came into effect. One of the main changes that it dealt with are “material facts” relevant to the sale of real estate within Victoria.A material fact is a fact that a proposed purchaser ought to be made of aware...
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Notices When Selling Real Estate
Whether buying or selling real estate, it is important for any buyer or seller to understand how notices play a part in a real estate transaction. Notices when selling real estate are a must and understanding why is just as important. What is a...
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Documenting Renovation Works
When selling your property it is essential that any renovation works that you have carried out during your ownership of the property have been completed and documented properly, whether you had a professional builder carry out the works or you acted as an owner...
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Shared Responsibility and Visitation – What are they and why are they different?
Under the Family Law Act (the Act), Shared Parental Responsibility provides that: When making a parenting order in relation to a child, the court must apply a presumption that it is in the best interests of the child for the child's parents to have equal shared...
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Liquor Licensing: How We Can Assist You And Your Business
Liquor licensing is a key element of many hospitality businesses. In many circumstances, a licence providing for extensive trading conditions is key to a profitable business. This is particularly so in 2021, where businesses continue to navigate difficult trading...
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Executors Of An Estate: Can They Be Paid And How Does It Work?
An executor of an estate is someone appointed by the Will maker to administer their estate. This involves collecting assets of the estate, paying any taxes and debts of the deceased, and then distributing the remainder of the deceased estate according to the terms of...
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Residential Tenancies Act Changes: What Landlords Need To Know
At Phillips and Wilkins, we provide advice on commercial leases but generally do not on residential tenancies. However, we acknowledge that many of our clients are residential landlords. It is important that all residential landlords familiarise themselves with recent...
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Retail Leases Act: Laws and Obligations Of Tenant
This article describes a few matters that tenants of retail leases should be aware of. It is hoped that the information contained is useful for tenants when dealing with rental property and landlords.The Retail Leases ActThe Retail Leases Act (“the Act”) was amended...
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What Happens to Your Finances When You Get Too Sick?
Administering others finances or having someone take care of your own is a difficult decision to make when you are currently well. You may have organised an Enduring Power of Attorney. This is a document in which you appoint one or more persons to look after your...
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Changes to the Retail Leases Act – What it means for Landlords
On 23 September 2020, there were a series of changes to the Retail Leases Act 2003 (“the Act”), which governs the majority of commercial leases. Whilst much of the commentary concerning the amendments suggested that the changes were not overly significant, many of...
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What Is A Life Interest? And How To Create One In Your Will
Life interests are popular now that second marriages and de-facto relationships are commonplace in society. Life interests enable you to provide for someone by giving them the ability to use your property after your death. A life interest provides many of the benefits...
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Interfamily Loans- When is it a gift and when is it a loan?
As a result of the Royal Commission into banking a few years ago, the banks tightened their lending to customers. Since this time, we have seen a rise in the number of parents lending money to their children to assist their children with the purchase of real estate...
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Shareholder Agreements – Do I need one?
Shareholder Agreements - do I need one? You may be starting a new business or have already commenced operations and wish to formalise the relationship between the respective business owners. If you use or intend to use a company structure to own and operate your...
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Capacity To Make A Will: What You Need To Know
Whether you have ‘capacity’ to make a decision may significantly impact your ability to conduct your own affairs. Capacity is a particularly important legal concept when making a new will or a power of attorney. Understanding what constitutes capacity will assist you...
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The Six Month Myth – De Facto Relationships in Australia
When lockdown was recently lifted, at a small gathering between friends, I was asked: “Is it true that after 6 months of being together, my partner can take half of my assets?” The answer to that question can be broken down in two parts; 1. 6 Months of Being Together...
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Understanding Terms and Conditions: What You’ve Always Wanted To Know
If you are engaged in business, it is essential that you have properly drafted terms and conditions to protect your interests. Why are terms and conditions important? We are regularly contacted by clients who have either not received payment for goods or...
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Want to Know What Happens To Your Assets After Death?
One of the most important decisions to make when considering making a Will is who gets your assets. Many clients are surprised to find that their Will only deals with assets in their own name at the date of death which could only be a bank account of $10,000, although...
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Negotiating Child Support? Should You Enter Into A Private Agreement?
Have you separated from your significant other? The time has now been divided up between you 50/50 to look after the children. But who is going to pay for school fees? Saturday sport fees? Medical Expenses? And what is the amount that is being deducted by the Child...
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COVID-19 – Commercial Leasing Code of Conduct
Commercial Leasing Code of Conduct During the COVID-19 Pandemic The Prime Minister has recently announced an obligatory code which landlords and tenants must follow when negotiating amendments to leases due to the COVID-19 pandemic. The guiding principle is that any...
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Know Your Obligations When It Comes To Your Will and Your Family
1. Drafting your Will Writing a will is crucial as it provides you with reassurance about who will attend to your affairs upon your death and gives you the opportunity to decide the manner in which your assets will be distributed. Most of us understand that we have...
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Recent Tax Changes You Need To Consider When Selling A Residential Property
We have seen a spike in interest in people looking to purchase property at auctions in the past month or so. With the market trending upwards, it is important that people looking to sell their property to understand their obligations when selling. Foreign...
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Power Of Attorney – What Is It And Do I Need One?
A Power of Attorney is a legal document that allows you to appoint someone to make important lifestyle, medical or financial decisions on your behalf. Any decision made by an attorney will have the same legally binding effect as if you had made that decision yourself....
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5 Important Things to Consider When Purchasing a Property
With the federal election result decided, we have seen an increase in the interest in people looking to list their property for sale and people looking to buy property. For the people looking to buy, there are 5 things that all purchasers should consider when...
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5 Tips For Preparing Your Business For Sale
If you are thinking about selling your business after many years of hard work, it is important that you put it in the best position to achieve a good sale price. We look after many business transactions and see some issues pop up regularly. We have listed a few tips...
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‘Binding’ Financial Agreements – Why They Might Not Be So Binding
In recent times, we have seen more couples inquire about entering into pre-nuptial agreements before they take the big leap into marriage. These pre-nuptial agreements are colloquially known as “Binding Financial Agreements” or “BFAs” for short. DID YOU KNOW? BFA’s...
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Making A Will? Who Should Be Your Executor?
A will is a legal document that states who will attend to your affairs upon your death, and in what manner your assets will be distributed. When drafting a will it is important to carefully consider who you select as your executor. Role of an Executor An...
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Are You An Owner Builder? Know Your Obligations
Vendor Statement Disclosure: Owner Builders In recent years, the influx of renovation shows like the Block and House Rules has meant that property owners have got the DIY bug. But did you know, by doing such things as replacing bathroom tiles or fixing a hole in a...
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