Did you know that anyone who keeps horses in NSW is required to obtain a Property Identification Code (“PIC”) for the land on which the horses are kept? The requirement to have a PIC has been around for some time for livestock owners, whether the livestock is moved or not, but what a lot of people don’t seem to know is that even if you own just one horse you must have a PIC. The need for a register of the location of all horses (and other livestock) was recognised during the equine influenza outbreak in 2007. At its peak, approximately 47,000 horses in NSW were infected. Horse owners and industry workers faced dark times with major impacts on their livelihood and lifestyle. Continue Reading..
The recent World Elder Abuse Awareness Day gave the NSW Law Society the opportunity to put elder abuse at the top of the agenda. In the context of an aging Australian population and the World Health Organisation reporting that elder abuse is on the rise – a report by the Law Reform Commission has found that emotional and financial abuse are two of the most common forms of abuse. Financial abuse can include stealing money from the elderly, incurring bills for which an older person is responsible, abusing power of attorney arrangements or forcing someone to sign a will or contract. Continue Reading..
Following on from our article last month about stamp duty being abolished on homes for first home owners up to a certain limit, the Federal Government in its recent Budget also established a scheme to help people save for their first home by using their superannuation fund to build savings for a deposit in a tax advantageous environment. Continue Reading..
From 1 July 2017 the NSW Government will introduce a long awaited range of new measures to assist first home buyers and housing affordability generally throughout NSW. Under current laws in NSW, first home buyers are only eligible for a stamp duty exemption on a purchase of a new home up to the value of $550,000 (and in the case of vacant land, a purchase up to the value of $350,000). Continue Reading..
Legal housekeeping is essential to a stress-free future. In the event of death, injury or illness, there are simple legal documents that can give you and your family instant financial and emotional relief.Power of Attorney (“POA”)A POA document allows you to appoint an attorney to act on your behalf in relation to your financial and/or legal affairs. If you have an enduring POA, the document continues to be effective once you have lost capacity, which is where it’s true value lies. Continue Reading..
Your husband Robert suffered a stroke three weeks ago and is in hospital. The doctors tell you that Robert is suffering from memory loss. His prognosis is not good and several weeks later Robert becomes extremely ill. The doctors tell you Robert has lost mental capacity and transfer him into high care. Continue Reading..
Possession of land can give ownership. By being in occupation of someone else’s land for a specified amount of time you can acquire a right of ownership in the land. This can happen in accordance with legal rule known as adverse possession. This rule is used to prevent someone who has used land for a long period of time, believing it to be theirs and probably improving it, from being ejected by someone who discovers a technical defect relating to the land ownership or boundaries. Continue Reading..
After the birth of a child into any family, celebrations occur. The members of the extended family picture what the newborn will look like and wonder what they will achieve during their lifetime. The only disputes that normally occur are between relatives wanting to nurse the baby or which side of the family the newborn takes after. Any new parent should be aware that future disputes can occur should both parents die without a Will in place appointing a guardian of their minor children. Continue Reading..
Knowing the business of your business
If you’re thinking about starting a business, it is vital to give sound thought to the type of legal structure you need. To better understand the differences between each business structure, we have briefly summarised some options below. Sole Trader Continue Reading..
It is not something necessarily at the top of our list when you are excitedly planning a wedding or sadly contemplating divorce, but it is very important that when you start or end a significant relationship that you review and, if necessary, update your Will. When you marry, your Will is revoked, unless the Will was made in contemplation of that marriage. However, gifts in your Will made prior to the marriage are not revoked if they were made to the person to whom you are married at the time of your death. When you divorce, any gift to a former spouse is revoked, along with any appointment as executor or trustee. Continue Reading..