by Lesley McDonnell | Sep 28, 2019 | Wills & Estates
The deceased died in 2016 aged 76 years survived by his widow and two adult sons and 6 grandchildren. The deceased made a Will on the day he died leaving his widow the right to reside in their matrimonial home for life. Upon termination of such right, the deceased sought to provide for 3 of his 6 grandchildren, to make a gift of $10,000 to each of his sons, and for the remainder of his estate to pass to his daughter in law who was also named Executor of his Will. The net value of his estate was in the vicinity of $3.8… Read More
by Ken Sorrenson | Sep 21, 2019 | Business
Bad debts can cripple any business.
Some businesses are lucky enough to operate in industries where payment is made before goods or services are supplied but most don’t have that luxury. For most businesses, getting paid after goods or services have been supplied is a daily issue.
Self-evidently, people don’t pay their debts for 2 reasons –
- They don’t have the money to do so; or
- They choose not to.
The first category brings the “can’t get blood out of a stone” cliché to mind. Usually after spending quite a bit of money to get there, bankruptcy (if the debtor is a natural person) or liquidation (if the debtor is a company) is the end result.… Read More
by Suzanne Hindmarsh | Sep 14, 2019 | Property
If you are renting out your property, your property is likely to need maintenance from time to time. You may consider a handyman or woman to do the “easy jobs” like replacing tap washers or taps, repairing or replacing leaking toilets and cisterns as a good low cost alternative to engaging a licensed contractor.
However, when hiring someone to do any plumbing work, you must make sure they hold a current licence. Only a qualified and licensed plumber and/or drainer can legally undertake repairs such as but not limited to:-
- Replacing tap washes or taps
- Repairing or replacing leaking toilets and cisterns
- Repairing or replacing a hot water service
- Repairing water leaks
- Clearing or repairing blocked sewer lines
Any person doing plumbing repairs for a payment who is not suitably licensed is breaking the law and can be fined $1,100.00.… Read More
by Sarah Rayner | Sep 7, 2019 | Property
When selling your property, it is usual for a purchaser to pay 10% of the purchase price as a deposit for the property. This money is usually held by the Real Estate Agent and under the standard conditions of the Contract can be recovered by Vendor if the Purchaser defaults on the Contract.
However, it is becoming increasingly more popular for Purchasers to ask if you will accept a 5% deposit or sometimes even less.
So what happens if you accept a lesser deposit?
Most of the time, the transaction is completed as normal and the money that would have been held as a deposit is simply paid to the Vendor at settlement.… Read More
by Clint Coles | Aug 31, 2019 | General
Libby was recently awarded the prestigious title of ‘Young Employee of the Year’ at the 2019 Tamworth Quality Business Awards.
Libby is a Tamworth local who obtained her undergraduate degrees in Arts and Law at the University of New England, Armidale.
While attending university, Libby was involved in a number of community incentives including Backtrack Youth Works, a not-for-profit organisation that assists troubled youth involved in legal proceedings. Around this time Libby was also selected to complete an internship with Magistrate Stafford at the Armidale Local Court. These two experiences particularly afforded Libby a very immediate view of the judicial system, even before she was qualified to practice in it.… Read More
by Clint Coles | Aug 24, 2019 | Business
Its my great pleasure to introduce Ya Zhang, who recently joined the team at Everingham Solomons with a most impressive and unique experience.
Ya completed her undergraduate qualifications in law in China. She was then admitted to practice as a lawyer in 2007.
For many years she worked from the Beijing and Shanghai offices of one of world’s largest law firms, primarily in their corporate and commercial law teams.
Ya then moved to the US where she obtained a masters degree in law from the Cornell Law School and shortly thereafter fulfilled the rigorous requirements entitling her to practice at the prestigious New York Bar.… Read More
by Clint Coles | Aug 23, 2019 | Business Law
A company is its own legal entity. While it doesn’t have a pulse, just like a person, a company can enter into contracts, incur debts, sue and be sued in its own name.
The directors of a company however must be living, breathing people. They are the people that control the company. Although the company is able to do things in its own name, it does so at the will of the directors.
Because a company is a separate entity from the directors that guide it, normally a company’s debts are repaid only from the company’s assets. The company’s creditors do not have access to the directors’ personal assets to repay the company’s debts. … Read More
by Libby Campbell | Jul 6, 2019 | Workers Compensation
Under the NSW Workers Compensation system a worker is assessed, once they have reached maximum medical improvement, based on a percentage of whole person impairment. This percentage then equates to varying levels of compensation. If a worker is assessed at greater than 30% whole person impairment the worker is then considered a worker with Highest Needs.
Section 38A of the Workers Compensation Act 1987 then comes into play as it provides a special provision for workers with Highest Needs. Provided the worker has some level of incapacity, the worker has access to a minimum weekly payment of compensation. Under section 38A the amount is $788.32… Read More
by Clint Coles | Jun 29, 2019 | Business
Undertaking work before being paid is a part of business. If you’ve been in business for a while you’ll know the difficulties that can arise in getting paid after the fact.
This is a situation where prevention is much better than cure. There are a number of steps that a business can take to greatly reduce the likelihood of payment problems arising.
Although it seems simple, the first is often overlooked. It is important to properly identify who your business is dealing with and to make an assessment of the creditworthiness of the entity you are contracting with. People and companies can enter into contracts, but nobody else. … Read More
by Ken Sorrenson | Jun 22, 2019 | Business
The saying “the only constant is change” certainly applies to the law and legal practice generally. Laws and client needs are constantly changing.
To be an expert and effective solicitor, a lifetime of continuing legal education is required. In that context Everingham Solomons is very pleased to announce that Clint Coles has been awarded a Master of Laws degree by Sydney University.
The Master of Laws course conducted by Sydney University is without doubt one of the most rigorous and prestigious in Australia. Clint’s studies centered particularly upon commercial law subjects such as –
- advanced rules for the drafting and interpretation of commercial contracts, the ability for terms to be implied into contract and the availability of juristic remedies in the case of ambiguity;
- personal and corporate insolvency including the roles of directors, proprietors, creditors and secured parties in insolvency;
- Australian business taxes particularly the major transaction taxes of capital gains tax, stamp duty, GST and the various carve outs and concessions;
- advanced study of the establishment and use of the commercial trust as a vehicle for business and investment, the regulation of managed investment schemes and the potential liability of trustees and beneficiaries,
- the rationale behind and implementation of the recently developed Personal Property Securities regime in Australia, its impact on borrowers and secured parties and its role in the leasing environment; and
- structuring strategies for asset protection in the estate and business planning context.
… Read More
