Recently we assisted a client with the updating of their will and in the process came across a fantastic report on superannuation and wills.
With an increasing importance being placed upon superannuation, it is becoming a major asset in a person's life and like all assets needs to be considered in any estate planning you undertake.
In the drafting of a basic will most people don't even think of considering their superannuation as a major asset, instead just lumping it into the residue of their estate category, however it is worth putting more thought into it.
To read more about the importance of superannuation in a will have a read of the report.
If you are looking to update your will our lawyers can assist. Contact Teddington Legal Gold Coast on 1300 36 32 10, or email admin@teddingtonlegallawyers.com.au.
Saturday, 18 July 2015
Saturday, 20 June 2015
Updates from the Teddington Legal Gold Coast Blog - Part #6:
Updates from the Teddington Legal Gold Coast Website:
We've been working hard to update our blog with the latest legal news. We've put together a few articles for those looking to buy or sell property on the Gold Coast, or in Brisbane, with news on changes to property law and conveyancing and how electronic conveyancing is about to shake up the buying and selling process.
Check out our latest posts below:
Sunday, 29 March 2015
Updates from the Teddington Legal Gold Coast Blog - Part #5:
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Updates from the Teddington Legal Gold Coast Website:
As well as a bit of a revamp of the website, we've continued updating the Teddington Legal Gold Coast blog with some new articles on the latest developments in property law in Queensland. Below is a sneak peek at some of these.
The Legal Obligations of a Business Under Australia’s Privacy Laws:
At Teddington Legal Gold Coast we act for many small and medium sized businesses, assisting them to meet their commercial law obligations. One of the most common concerns we come across is whether a business is meeting its obligations when it comes to Australia’s privacy laws.
Mortgage Tips - Acting as Guarantor for Your Child:
You only have to open a newspaper, turn on the TV, or do a quick Google search to see the latest news on the growth of property prices along the east coast. While Sydney is grabbing the headlines, more recently the Gold Coast has streaked ahead, with a huge growth in prices being attributed to the upcoming Commonwealth Games.
Conveyancing Goes Digital - The Introduction of PEXA in Queensland:
The conveyancing process in Queensland is in the midst of a dramatic change with the introduction of PEXA, or e-conveyancing. The property law profession is in the midst of moving away from a manual paper based process and towards a fully electronic process that does away with paper all together.
Tips for Buying – Finding Your Perfect Property:
Finding houses to buy or rent is easy. Finding the perfect house to buy or rent that suits the specific wants and needs of everyone who’ll live in it is the real challenge.
But there are a number of ways to ensure that your house-hunting journey ends with a property that everyone can be happy with.
Rates and Water Search – Making Adjustments at Settlement:
As part of the conveyancing process, your solicitor will undertake several searches of the property that you are buying to ensure the property is free from defects and all costs are accounted for prior to settlement. One of the searches they will undertake is a council rates and water search.
To learn more about the services offered by Teddington Legal Gold Coast visit our website.
Saturday, 7 February 2015
Updates from the Teddington Legal Gold Coast Blog - Part #5:
Updates from our lawyers:
We've been busy updating the Teddington Legal Gold Coast blog with some new articles. Below is a sneak peek at some of these.
Property Law and Conveyancing:
We're put together a series of articles to help explain how the conveyancing process works and what each step along the way is.
Co-Ownership of Property - The Elements of a Joint Tenancy:
Co-ownership refers to the legal relationship shared by two or more people over an interest in property. In Queensland co-owners are registered as either Joint Tenants or Tenants in Common. It’s important to have a basic understanding as each of...Prevention is Better Than Cure, How to Build your Employment Framework:
An employment contract is intended to clearly outline the various aspects of a job to ensure there are minimal misunderstandings about the nature of employment regardless of what situations may arise. However, in recent years, a range of legislation by...Indie vs YouTube – Royalty Payments for Online Music:
In the latest David v Goliath story, recent news reports have been furiously circulating about YouTube threatening to block independent music from the behemoth platform. Suffice it to say, spectators have been left wondering – what’s behind the beef between...The Importance of a Sound Employment Agreement:
Every new employee hired represents a new business relationship with a potentially valuable resource, and so a well-structured employment contract ensures that all parties involved are put in a position to benefit right away. The employment agreement outlines the considerations...To learn more about the services offered by Teddington Legal Gold Coast visit our website.
New Era for Queensland Real Estate:
Earlier this year Queensland's residential housing wealth broke through the $800 billion barrier – worth more than superannuation, listed stocks and commercial real estate combined. That's a remarkable performance when you consider real estate transactions in Queensland have long been hampered by obsolete legislation, designed more for bureaucrats than agents and consumers.
From December 1, however, there are renewed grounds for confidence in Queensland real estate, as the state's new industry-specific laws come into force. The Real Estate Institute of Queensland has long lobbied governments on both sides of the political divide for these laws and we applaud the state's lawmakers for making them a reality.
The new Property Occupations Act is a watershed in the history of Queensland real estate. It will deliver buyers and sellers a welcome reprieve from unnecessary red tape. It will eliminate costly paperwork that burdens real estate agencies, while doing little to protect consumers.
And just as importantly, it will create a more competitive marketplace. From today, maximum allowable commission rates for residential and rural property sales prescribed by legislation will be abolished. Instead, agents and their clients will have ultimate contractual freedom to determine commissions, based on the level of services being provided.
You don't really have to delve too deeply into the previous laws to realise just how unworkable they had become. For example, under the old laws the regulations provided seven – yes, seven – separate agent appointment forms.
The new regulations have replaced this byzantine structure with one simplified agent appointment form. And they've sensibly gone one step further by abolishing the previous requirement that an agent specify "how" services are to be performed.
Also gone is the much-maligned stand-alone Form 30 warning statement, which previously had to be attached to residential contracts of sale. Ask just about any conveyancing solicitor in Queensland and they'd probably be able tell you their own Form 30 horror story – most likely about a contract falling over because a Form 30 wasn't properly stapled to the rest of the paperwork!
This particular reform is long overdue and it's one of the most critical, in the REIQ's opinion. The requirements associated with the delivery of the Form 30 have allowed many buyers to terminate contracts on the basis of a minor or technical omission. This change will greatly enhance contract certainty and alleviate administrative burden.
One of the most talked about changes in the new laws is the prohibition on price guides for residential auctions. Although not the leading method of sale in Queensland, auctions are nonetheless increasingly popular throughout the state.
It's important to remember the key objective of an auction sale: to allow the market to determine what it is prepared to pay. And it's equally important to recognise that these new provisions won't act as a blanket ban - real estate agents handling an auction property will still be able to provide a buyer with certain information. Agents involved in an auction campaign can provide a prospective buyer with a comparative market analysis (CMA) or a written explanation, showing how they decided the market value of the property. Agents can pass this information on to prospective buyers, provided the seller has provided written consent.
With the rise of online portals in real estate marketing the act goes a step further, allowing agents to load auction properties by price criteria on websites, enabling consumers to search by price ranges.
Research shows that the vast majority of buyers commence their property search on the internet, so this will allow consumers to get some sense of the price ballpark the property is in.
These important new laws wouldn't have come about without the input of the REIQ's thousands of members. We consulted widely with our members once the draft laws were released and their feedback has helped to shape the new act.
In 2015 we'll continue working on the issues of most importance to our members: compulsory professional development for all registration and licence holders; and a much needed overhaul of the Residential Tenancies and Rooming Accommodation Act.
Government wants to consult with us and we have a good working relationship to pursue these goals.
Saturday, 8 November 2014
Updates from the Teddington Legal Gold Coast Blog - Part #4:
Updates from our lawyers:
What is a Joint Venture Agreement?
If you are considering going into business with another person one of the most valuable documents you can have drafted is a Joint Venture Agreement. You’ve probably heard of this term before, but what exactly does a joint venture detail?...A Passion for Property Law and Conveyancing:
At Teddington Legal Gold Coast are lawyers have a passion for property law and conveyancing. Any transaction involving property is a major decision for both businesses and individuals and our legal team can guide you through these transactions and provide...Virtual Lawyer – A Lawyer for Small Business:
Most large organisations enjoy the benefit of having a lawyer on staff full-time to act as their in-house counsel. This provides the business with a level of legal protection in everything they do, as even the simplest business decisions can...Employment Law and Workplace Relations for Business Owners:
Teddington Legal Gold Coast provides assistance to small and medium sized business, by advising them on their legal obligations and providing pro-active management of the employee-employer relationship. We believe that prevention is always better than cure, so our aim is...Company Law Advice – Corporate Governance & Compliance:
Our lawyers specialise in providing services and legal advice to companies to enable them to cost effectively and efficiently manage their corporate secretarial, governance, compliance and regulatory obligations in Australia. A company registered and operating in Australia must meet strict...Sunday, 5 October 2014
Swell Sculpture Festival:
Our lawyers recently took a trip to explore the annual Swell Sculpture Festival that takes place on the Gold Coast.
It's a fantastic event celebrating the unique style of art that the Gold Coast brings to life, with a variety of sculptures scattered along the beach and foreshore.
We thought we'd share a few photos from the day.
It's a fantastic event celebrating the unique style of art that the Gold Coast brings to life, with a variety of sculptures scattered along the beach and foreshore.
We thought we'd share a few photos from the day.
To learn more about the services offered by Teddington Legal Gold Coast visit our website.
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