A Divorce Lawyer Has Responsibilities Beyond The Courtroom

For some people who are about to embark on divorce proceedings, they may assume their lawyer is only crucial for court representation. In reality, the dissolution of marriage is a process that comprises numerous moving parts. Thus, your divorce lawyer will have additional responsibilities other than simply being your court representative. Some of the roles that they take on by becoming your lawyer can include being your counselor, your bookkeeper, your detective and more. Knowing what responsibilities you can task your solicitor with will make it easier for you to know how best to navigate the dissolution process. Below are some of the responsibilities your divorce lawyer will have beyond the courtroom.

Initiating the separation process

It should be noted that in Australia, the Family Law Act requires that you and your spouse to have been separated for at least twelve months before you can apply for a divorce. Therefore, your divorce lawyer will be tasked with initiating the formalities by filing the necessary paperwork with the court. This step is crucial, as you would need to prove to the court that you and your former spouse have legally been separated, not only claim that you have been living in different homes. You do not need to wait for twelve months to deal with the financial settlement or parenting arrangements though, you can address that straight away.

Negotiating your financial settlement

A misconception some people have about divorce is that the spouse with the lesser income is entitled to half of everything. The truth of the matter is many factors go into determining what the financial settlement for either spouse would be. Therefore, you would need the expertise of an experienced solicitor to ensure that they are negotiating a settlement that you deserve. These negotiations would include aspects such as splitting up of the marital assets, determining the amount of money that could be paid in spousal maintenance and more.

Collecting your financial information

It is not uncommon to find that in some marriages, one spouse would deal with the monetary affairs of the household. This can apply in particular to homes where there is a sole breadwinner. If you are in this situation and cannot make head or tail of your family’s financial records, then you would be best advised to leave this to your divorce lawyer.

Your lawyer will not only know what financial information would be crucial for the divorce proceedings, but will be able to organise them in a manner that would benefit you financially. It can sometimes be through this process that some spouses end up finding out about hidden accounts, hidden properties and more that could all go into their financial settlement.

Negotiating a parenting agreement

Whenever there are children involved in the dissolution of marriage, the process can become significantly more complicated. These complications can be aggravated if one spouse is trying to use the children to exact revenge on their former spouse by trying to keep their offspring away from them. Instead of coming up with parenting agreements based on high-strung emotions, it is best to involve your lawyer.

As long as the children are not in any danger with the other spouse, your solicitor can liaise with you and your spouse on which type of parenting agreement would be best suited for your specific situation.

For instance, you may get primary care of the children, which would mean the children live with you. However, if your spouse has equal parental responsibility, it would mean all major decisions relating to the children would have to be agreed with them first, even if they do not have physical custody of the kids.

Post-divorce changes

As previously mentioned, going through a divorce involves a number of stages. A misconception some people have is that once the proceedings are over, they can simply move on with their lives. In reality, the conclusion of the proceedings can open up a new set of concerns, particularly changing of your status. Your lawyer can guide you through the process of changing your name, undertaking the conveyancing on the sale or purchase of property, preparing a new will, notifying your Superfund, and more.

For instance, if you are paying spousal maintenance and your former spouse is planning to get married, your divorce lawyer will guide you through the process of ceasing these payments. Alternatively, if you were paying spousal maintenance and lose your primary source of income, your lawyer would initiate the process of having these payments reduced to reflect your current situation.

Best Brisbane Lawyers

Aylward Game Solicitors chooses a best practice approach to the law and turns its eyes toward a customer service and outcomes model; whilst incorporating the technology of our modern world.

For help navigating a matter you may be facing, please reach out to our team on 1800 217 217 or contact us.

Article Source: Divorce Lawyer Brisbane 

What To Look For When Purchasing An Investment Property In Brisbane

Making the decision purchasing an investment property, particularly an investment property in Brisbane will be one of the most important purchases you will make.

Whilst purchasing and owning an investment property can be a very rewarding experience, there are key items to consider when you make the decision to start your investment journey:

Location, Location, Location

Consider the location of the property and any amenities close by. To attract a broader range of tenants, whether it be families, couples, singles or tenant share, depending on the type of property you are purchasing, location is the key selling point. For a large family home, being close to schools and shops will appeal to families. Being close to public transport such as bus stops and train stations can appeal to most and are often considered highly desirable by prospective tenants when they are deciding on which area to live in.

It is also a good idea to do some research on the predicted growth for the area. If you are buying through an agent, they should know the area well and be able to provide you with information on any new developments in the area, including shopping centres, housing developments, etc. Particularly if you are looking at keeping your investment property in Brisbane for a while.

High maintenance vs low maintenance

Properties that are very high maintenance should be avoided. An aging property that requires immediate work on painting, carpets, and appliances will cost you more in the short term and may be more difficult to lease. High maintenance gardens can also be problematic as not every tenant has a green thumb and it is quite easy for gardens to become out of control if they are not maintained on a regular basis.

Presentable Properties attract tenants

A neat, clean & low maintenance property is more attractive to tenants. You are also more likely to attract good tenants who will look after the property if the property presents well.

Property Manager vs Self Manage

Self-managing your property can quite often be more work than you think. The legislation surrounding managing tenancies is ever-changing and unless you are completely up to date with your rights and obligations as an investment owner, including correct procedures to follow, correct notice periods for tenancy related issues, and correct paperwork that needs to be prepared, completed, and lodged or stored, you should consider a professional Property Manager to take care of this on your behalf.

Most importantly, Property Managers have the ability to look into a tenant’s previous rental history, which is valuable and not necessarily something you will be able to do accurately if you self-manage. A good Property Manager will negotiate on your behalf, they will collect rent, lodge bond monies, chase tenants for arrears, prepare all necessary tenancy related documents, take complaints from the tenant and provide you with the resources and information on how best to deal with any situation that arises.

Find a good property lawyer or conveyancing solicitor

It is recommended that you engage a solicitor prior to signing the contract. We can assist you with your purchase from the very start. Please contact us for more information.

Don’t forget to check out more information on Vendor Finance and Conveyancing matters.

Article Source: Investment Property In Brisbane 

Too many Demerit Points? Why you should not opt for a good driving behavior period?

 

This article aims to briefly examine a circumstance wherein an open Driver Licence holder has accumulated too many demerit points on his/her traffic history and why a choice for a good driving behavior should not be made.

Why is it easy to lose your open Driver Licence?

A holder of a QLD open Driver Licence can lose his/her Driver Licence when 12 or more demerit points within a 3 years period have been recorded on his/her traffic history. This is called suspension of a driver licence.

How do I know if I have accumulated 12 or more demerit points?

The Department of Transport and Main Road will send you an Accumulation of demerit points notice to choose when you get 12 or more demerit points within a 3 year period on your QLD open Driver Licence. The notice will require you to choose either:

• Have your open licence suspended for a requisite period; or
• Agree to continue driving under a period of what is termed a “good driving behavior” for 1 calendar year.

If I choose the suspension, how long will my open licence be suspended for?

Citing two examples here – if you have accumulated 12 -15 demerit points your suspension period is 3 months. If there are 20 or more demerit points recorded against your licence, the suspension period is 5 months.

What is good driving behavior?

If an open licence holder after receiving the notice chose to continue driving under a good driving behavior, then he/she can keep his/her current licence. It should be noted that the good driving behavior will start from the date you select. That date must be between the current date and choice date.

Why the good driving behavior should not be opted?

The grave issue with choosing this option is that if you get 2 or more demerit points during the 1 year good driving behavior period, your licence will be suspended for double the suspension period that would have applied to you if you had chosen the suspension period originally.

What happens if I receive the notice and I do not make any choice?

If you do not nominate an option by the choice date mentioned in the notice you received, your licence will automatically be suspended for the stated period and the suspension will start the day after the choice date outlined on the “Accumulation of demerit points “notice to choose”.

Take-Home Message

Demerit points must not be taken lightly. They can easily reach 12 or more in a few weeks if not a few days, if an open driver licence is not careful in observing various traffic rules. Even if an infringement has been committed innocently, it would be difficult to challenge the offence recorded by a camera, for example.

For advice or assistance with all traffic law matters contact the Traffic Law Team at Aylward Game Solicitors today on 1800 217 217

Article Source: Demerit Points

Joint Tenants or Tenants in Common – what is the difference

 

Joint Tenants or Tenants in Common is a widely misunderstood concept and is often confusing to buyers when they are deciding on which of these options best suits their needs.

Understanding the difference between Joint Tenants and Tenants in Common is extremely important considering the legal implications that can arise with either option.

Let’s look at the differences…

The first question is, how much interest does each buyer intend to hold on the property? For example – does one buyer intend to hold 100%; each buyer 50%; or different shares such as 80/20. Another thing to consider is in the event that any of the co-owners pass away, what do the other parties intend to happen? Do they intend for the deceased’s share in the property to be automatically transferred to the surviving parties?

Joint Tenants

A Joint Tenant is a common option for married or de-facto couples. It allows two or more persons to own property jointly as one single owner.
A joint tenancy means that if one of the owners passes away, their interest in the property will automatically transfer to the other owners.

Tenants in Common

Tenants in Common allows two or more individuals to own shares or a fraction of interest in the property. Each owner will need to specify what percentages they will hold of the property. For example, they could own equal shares of 50% and 50% or unequal shares of 80% and 20%. For more than two owners, the shares could be split as 50%, 30%, and 20% for example, or any other percentages totaling 100%.

The effect of Tenants in Common is that if one of the owners passes away, their share will not automatically transfer to the surviving owners, but must be dealt with under the owner’s will. This is a better option for an owner if they prefer their share to be transferred to another family member for example rather than being transferred to the co-owners of the property.

For more information on Joint Tenants and Tenants in Common contact us.

Article Source: Joint Tenants

Everything you need to know about Vendor finance

 

What is vendor finance?

Imagine you want to buy a property or business. But you don’t have enough funding for that. Alongside this, traditional loan providers like banks have a low demand to invest in these projects. On top of that, you want to avoid hustling yourself with all those lengthy bank formalities. Now is the highest time you want to do vendor finance!

Vendor finance is lending money to the buyer or purchaser, where the seller or vendor will give a loan to the buyer to buy that property or business at an actual interest rate. Or, this can be explained as an orchestration in which the buyer deposits an amount to the vendor to buy the property, and the vendor lends the rest to the buyer, who agrees to pay back at a discussed interest rate.

This arrangement authorises the buyer to acquire the property and enables the vendor to get a high interest and consistent payback.

The terms of the agreement

• The amount of the loan funded
• Charged interest rate
• The form of the contract
• The amount of repayment
• The repayment period and schedule
• Provisions in case of early payback
• Provisions for defaulted repayment
• Securities in the event of defaults

Nutshell benefits buyers

• Funding is sourced easily.
• Repayment flexibility.
• Low amount of risks.
• Businesses can be grown with substantial cash.
• You don’t need any weighty funds.
• Control of the property is obtained.
• The property can be used, and profit can be made from it.
• Sanctioned quickly.
• Zero hustled documentation.
• Buyers with poor credit reputations can get vendors easily
• More options for negotiation

Nutshell benefits vendors

• Buyers are drawn to this
• The buying price can be inflated and driven higher
• The higher interest rate can be received in comparison to the banks
• Can secure a good deal during a poor economy or in a start-up business
• Increased sales
• The vendor can be more competitive

Different types of vendor finance

• The wrap-around loan: This is also called a money mortgage. In this case, the buyer pays off the bills with some interest, which comes as profit for the vendor. This loan is also called private lending and varies from other laws. The loan wraps around according to the seller’s mortgage only. As a result, the buyer and the seller live under the same roof.
• Deposit finance: In the case of purchasing a home, this kind of finance is usually adopted. The buyer will get two loans of this type. One will come from the vendor as half payment of the property. And for the other half, the buyer will have to go to the bank and sanction a loan. The only pitfall is that the buyer will have to make bulky payments monthly, one for the bank and another for the vendor.
• Partially vendor financed: This loan is the simpler one. Here, the bank will pay the first half, and the vendor will pay the rest as a loan.
• License to occupy: The buyer will pay a small deposit, and the rest will be paid in installments. The buyer also pays the taxes and fees of property purchases. There will generate a license for him to live on the property. So, in this case, there will be no tenancy laws as this is not rent and consumer credit laws.
• Off-the-plan installment plan: This contract is the risky one. Because the purchaser doesn’t have that many rights or protection. There will be a deposit fee, a non-refundable administrative fee, and a long-term installment plan, for instance, 25 years.
• Work-in-lieu of payment: This is also called “Sweat equity “. In this type of finance, the buyer repairs a portion of the house or property and replaces the deposit or installment, and the remaining payment is paid by vendor finance.

Example of vendor financing

Not yet understandable? Let’s go for an example, then. Let’s assume that Mr. X wants to buy a property from Mr. A, which costs $ 1 million. However, Mr. X doesn’t have enough funding to finance that property. He can only pay $400,000 in cash. But Mr. A shows interest in vendor financing with Mr. X for the rest of $600,000.

Mr. A wants the loan to be paid within the next 2 years and charges 10% interest. Mr. A also demands the property be used as collateral for the loan to protect against default.

Risk of the vendor finance

You may want vendor finance if you lack funding or other financial assistance. It is a good option, but it can be risky sometimes. For the record, these advertisements are very lucrative, and some are to attract a considerable number of buyers to secure some quick deals. But it is always wise to know about common risks before choosing vendor finance. Houses are not that easy to purchase Through vendor finance.

• Risks for the buyer: The representation can be fraudulent. You may end up buying Houses that the Federal Court banned! The advertisements are created to attract a buyer who cannot even think of owning a house!
• Risks for the seller: The buyers with poor credit scores who don’t get loans from banks want to go for vendor financing. As a result, there remains a risk to the vendor providing loans. The buyer can default on its repayments.

Mitigating the risk of vendor finance

The agreement should be drafted adequately by experienced solicitors. The rate of interest and repayment provisions should be discussed. The property’s assets should secure the loan. The vendor should provide less finance, which may inspire the buyer to default on repayments.

Securities required for the vendor

The vendor should always be prepared for unexpected defaults on repayments. Security may include the following things:

• Mortgage over the business assets owned by the buyer.
• Mortgage over property owned by the buyer charge over the property or assets of the buyer.

Is vendor finance legal?

Vendor finance is legal until the contract or agreement is legally correct. Yes, you heard this right. Vendor finance is performed through a contract in which the terms should follow the rules of law.

Where to get legal advice?

Are you looking for a vendor finance home in Brisbane, Gold Coast, Sunshine Coast, or Qld? Aylward Game is here to help you with that. We have been in the business for more than two decades. You can always count on us. We have given legal advice to many people. We help people in purchasing a property. Through legal advice, they have been saved from fraud. They don’t have to worry about legal issues when we consult the vendors. When Mark Game started Aylward Game, he wanted to help people to get to their properties safely. Our team members are well aware of property law. We can tackle any issue. So, contact Aylward Game if you need any assistance regarding the property.

Source: Vendor Finance

Should You Use a DIY Will Kit or Hire An Attorney?

 

DIY will kits are becoming increasingly more popular and many are available for purchase online. Having a will is important on many levels, particularly if you have a sizeable estate, and even people with not much in the way of material possessions and money should still have some sort of will.

Do Your Own Will? Hire an Attorney?

But should you attempt to transcribe your own will just to try and save some money, or is that a task best left to a professional; hire a solicitor or hire an Attorney who specializes in wills and estates?

A DIY will kit can be handy in the sense that it’ll give you an idea of the types of things to include in your will, but it’s still highly advisable to have a trained professional prepare the will and distribute your estate.

Below are just a few reasons why DIY will preparation is not in your best interests.

The Cons of DIY Will Kits

DIY wills can often be unclear and ambiguous. They can even be misinterpreted and therefore left open to challenge by those in disagreement with the will.

Generally, when one prepares their own will, they are doing so to avoid involving a law firm. Therefore, they appoint a friend or family member as the executor of the will. Unfortunately, this person with their newfound responsibility likely doesn’t have the knowledge, experience or expertise to act as an effective executor, and therefore struggles to adequately fulfill the obligations bestowed upon them.

There is also the chance the executor has a conflict of interest, such as a business partner of the deceased.

If there is disagreement over the will between siblings, for example, how will you plan a resolution to that conflict and challenge when writing your own will?

Another common mistake is to leave assets to people that you either don’t actually own, or don’t fully own, such as a joint business or family trust.

And one of the most common problems with DIY wills is they get misplaced or lost and are unable to be found when the time comes.

Wills are an extremely important document and should be treated as such.

Call An Expert for Will Preparation

Don’t take chances. Have your will prepared and executed by a professional. At Aylward Game Solicitors in Brisbane, Gold Coast and Sunshine Coast, We specialize in wills and estate planning, so trust one of your life’s most important legal documents to us and give yourself complete peace of mind.

Article Source: DIY Will Kit