Legal Resources
Read Phillips & Wilkins’ updates and latest information
Two Recent Tax Changes Vendors 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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‘Til Death Do Us Part – The Importance Of Tying Up All Loose Ends After Separation
There are two important legal steps when married couples separate: Separation and a property settlement Divorce All married couples should know that until a divorce is finalised, the law presumes that your married spouse is your next of kin. If all loose ends are not...
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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 – 3 Reasons 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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Landlords – Get These 4 Leasing Concepts Right and Secure Your Investment
As a landlord it is critical that the terms of your lease accurately reflect the entire agreement with your tenant. There are four fundamental issues that must be dealt with and must be agreed upon before you enter into a lease with your tenant and must be recorded...
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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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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. Retail Leases Act Obligations The Retail Leases Act (“the...
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Dying Without A Will: Changes to Intestacy Laws
Intestacy law provides a formula for the division of an estate when a person has died without leaving a valid Will. On 1st November 2017, the Administration and Probate and Other Acts Amendment (Succession and Related Matters) Act 2017 came into effect and have made...
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Land Tax Victoria Update: New Tax on Vacant Residential Properties
Recent changes to Land Tax law may cause you to pay a penalty of at least 1% of land value $10,000 on a million dollar block. Make sure that any house owned by you for investment purposes is not vacant for longer than 6 months. If your investment property is in an...
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