Posts by stokeslawyers
Contract Performance in a COVID-19 Economy
The novel Coronavirus (COVID-19) has become an economic threat in which organisations are facing great challenges and preparing to respond quickly not only nationally, but globally. The Australian Government has provided temporary regulatory relief for financially distressed businesses including the statutory demand threshold of $2,000 being raised to $20,000 under the Corporations Act 2001 –…
Read MoreChanges to Corporations and Bankruptcy Laws in Response to COVID-19
With COVID-19 affecting the economic viability of businesses across Australia, recent changes have been announced by the Federal Government to help affected businesses. The Government has stressed the importance of implementing a temporary safety net for otherwise profitable and viable businesses that now face temporarily financial distress. Some of the key changes are outlined below.…
Read MoreNew Mandatory Code for Commercial Leases During COVID-19
On 7 April 2020, the Government released the much-anticipated Mandatory Code of Conduct (the Code) to apply to certain commercial and retail leases during the COVID-19 crisis. The Code imposes a set of good faith leasing principles for landlords and tenants. The overarching principles are to share, in a proportionate, measured manner, the financial risk…
Read MoreManaging wages and employment risk during COVID-19 (and other crises)
Since the outbreak of COVID-19 and the resulting government intervention including restrictions on gatherings and movement, many businesses are confronted with the question of how they decrease their business expenses to combat their falling turnover. Although COVID-19 is primarily a social and health issue, the reality is it has become an issue of economic life…
Read MoreSpecial Disability Trusts
Providing long term for a disabled person also involves considering social security implications. A Special Disability Trust can enable a considerable financial provision to be made for a disabled person without impacting social security entitlements What is a special disability trust? A Special Disability Trust (SDT) is a trust established primarily for the current and…
Read MoreResponsibilities of an Executor
When it comes to being an executor there are things you should be aware of… …are there debts owing on the estate? …does the estate require a grant from the courts? …is the Will in order? …does your role cause a conflict of interest? In a rapidly ageing population, many people will have the experience…
Read MoreShould my will include a Testamentary Trust?
Besides simply having a ‘valid will’ there are many aspects of estate planning that the well-advised may want to be aware of… A Trust can save a significant amount of tax and help keep the estate ‘in the family’ for future generations. What’s in a will? Growing awareness around the importance of wills has led…
Read More10 Estate Planning Errors – That will cost your estate $$$$$
Estate planning is more than just wills… Many people are unaware that there are other documents and issues that may affect the end-of-life circumstances or even the distribution of select assets… Common ‘Epic Fails’ can be easily avoided with proper, specialist advice. Estate planning is a complex and specialised area of the law with many…
Read MoreGift and Loan Back
Placing significant property in its own separate entity (like a company or trust) is a common and effective way to protect assets and manage risk. It also gives the owner more options for managing the assets and estate planning. This can be easily done if the separate entity exists at the time of purchase. It…
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