Busting the Four Most Common Myths
In all my years dealing with clients and urging them to make a Will, I have heard every excuse for not making one. But of all the unfounded excuses, these four are probably the biggest myths I have come across.
“I Don’t Need a Will Because my Wife / Husband Will Get the Lot Anyway”
This is simply not true. Who will get what is determined by a strict formula set out in the Queensland Succession Act, and your partner does not automatically “get the lot”.
“I Don’t Need a Will Because My Children Get Along Well”
There is an old saying, “say you know not a man until you have shared an estate with him”. Ugly scenes often come about from the influence of those outside the family. There are far too many people giving incorrect and poor guidance based on “folklore” and not what is actually the law. I have seen families torn apart fighting over the estate of a parent. Do not bring this upon your family. Make a Will so your wishes are clearly set out.
“It Costs Too Much”
Trust me when I say the cost of preparing a Will is nothing compared to the costs, both financially and emotionally, that your family will have to pay if you die intestate (ie. without having made a Will).
“I am Not Old Enough to Have a Will”
Unfortunately age does not protect you from accidents and tragedies. The rule is simple, everybody over the age of 18 should have a Will.
Hopefully this article has laid to rest those myths and cleared up any doubts and uncertainties you may have. If you love and care for your family then you owe it to them to ensure that they are protected.
The easiest way to address these matters is to speak to us at McLaughlin and Associates Lawyers. We will tailor a Will to suit your specific needs.
Book a consultation by calling us on 07 3808 7777 or email us at firstname.lastname@example.org
By John McLaughlin
Principal, McLaughlin & Associates Lawyers.
The new first home loan deposit scheme (FHLDS) aims to give first home buyers a leg up in the property market by reducing the deposit amount required to purchase a property.
First homebuyers were previously slugged with lenders mortgage insurance (LMI) if they did not come up with at least 20% deposit.
The First home loan deposit scheme works by providing a guarantee to first home buyers to purchase a property with as little as 5% deposit opposed to the onerous 20% required by most lenders. On a $500,000.00 property, that’s a whopping $75,000.00 difference!
Places are limited! The Australian Government has reported nearly 3,000 potential first homebuyers have registered with the banks since the 1st of January for the scheme. The remaining 7,000 places will open from the 1st February 2020. It is important that you have your finances in order, have spoken to a financier (i.e bank) and have started looking at potential properties.
Can you apply?
If you are a first time homebuyer then you are most likely eligible for the scheme. The Australian Government website has a handy eligibility tool to see if buyers qualify for the scheme. In a nutshell, you will need to be a first home buyer and:
· Pass the income test;
· A prior property ownership test;
· A deposit requirement; and
· Pass the owner occupier requirement.
Before you sign a contract of make an offer on a property, make sure you get legal advice to protect your interests. At McLaughlin & Associates Lawyers we have a team dedicated to residential conveyancing. We can assist you with pre-purchase contract conditions and also make sure the contract you sign protects your interests. See our page on Conveyancing for more info and guides for buyers and sellers.
Written by Dominic Doan, Commercial and Property Solicitor
For further information or to book in a consultation please contact us at email@example.com or phone us on 07 3808 7777.
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Read some of our other residential conveyancing articles:
Intern to Associate: Life After Law Boot Camp
What outcomes you can expect at McLaughlin & Associates
At McLaughlin & Associates, we’ve been operating a very successful internship program for many years and we’re especially proud of the outcomes we have achieved, especially for our interns.
Much of this success we attribute to the formal, standardised format of our program which we have developed with the fundamental underlying theme – to get interns to start thinking and acting like a valuable contributing member of a team.
We want to get them ready for their working life and to give them a competitive edge over other graduates when vying for a job in what is a very tough market. We like to think of it as a boot camp for law students.
Life as an Intern
The first premise of our program is the fact that most law students have never set foot inside a legal office and have no idea how an office functions and how they are supposed to act and operate within it.
So the first things we teach them are, the:
- responsibilities and obligations of being part of a team
- need for punctuality
- need for courtesy and respect to others
- need for honesty and ensuring every task assigned to them is done correctly and to the best of their ability.
They are made well aware that others in the team will rely on them to play their part and to do their job to the best of their ability and by failing to do this, they are letting down the other members of the team.
They are taught to be responsible for their actions and how to interact with others. They learn the shattering truth that getting a Law Degree is only a very, very small part of actually being a lawyer.
Armed with the skills acquired during their internship program, interns leave us and go forth to grab with both hands the opportunities which await them.
One of the great things about our internship program at McLaughlin & Associates Lawyers is that interns tend to stay in touch and remain friends of the firm forever and we are always very interested in their progress and achievements.
By John McLaughlin
Principal, McLaughlin & Associates Lawyers
Employers do you have employees or contractors?
It can be time consuming and confusing for clients to try and understand the exact type of arrangement and obligations that go with it. Also there have been many cases where a business owner thinks that a person has been engaged as a Contractor only to subsequently discover that they are deemed to be an employee and hence entitled to certain benefits and entitlements.
The Australian Taxation Office has set up a couple of online decision tools which are a series of questions and answers and resulting explanations. The good thing is there is no requirement to enter the TFN so the results are confidential.