Legal Resources
Read Phillips & Wilkins’ updates and latest information
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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Embrace e-conveyancing now, it’ll be mandatory January 2019
The law surrounding property transactions continues to evolve. One recent change is mandatory electronic transactions as of 1 January 2019. Whilst the legal industry is generally resistant to change, Phillips & Wilkins is always exploring the endless possibilities...
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Why you ought to insure your new house, even prior to settlement
Every now and again in this busy and profitable property market we have experienced, a vendor or purchaser or both may be tempted to save money by not renewing insurance in the case of a vendor, or not taking out insurance in the case of a purchaser. The problem is...
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Find out where you should and should not be keeping your will
In recent years, we have noticed an increase in the number of Wills that are hard to locate when the willmaker dies. This might be because :- the willmaker has made his own Will and left it at home in an apparently safe place he has made a Will with a Solicitor and...
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