Q: Why should I seek legal advice before entering into a business transaction?

A: Prevention is better (and cheaper) than a cure. Advice obtained early on in a deal may curtail future litigation.


Q: Are written agreements between business partners (shareholders or unitholders) necessary as my partner and I get along fine?

A: On sale, retirement, disability or death, a written document would allow the continuing partner to acquire the outgoing partner's interest in the business (company or trust) without family interference. In addition, a formula for calculating the value of the share being disposed of would be in place.


Q: I know I own a home and other assets, but is it necessary to have a will, as all my assets will go to my wife and children in any case?

A: While this is true in a general sense, under the laws of intestacy, in estates exceeding $50,000.00 in value, all the assets are divided between the wife and children in a formulated proportion. This may well leave your wife in a financially disadvantaged position.


Q: I have a will in place, nominating executors to act on my behalf. Why is it then necessary for me to have an enduring power of attorney?

A: The enduring power of attorney nominates attorneys to act on your behalf whilst you are alive but incapacitated. The executors nominated under your will may only act upon your death. The enduring power of attorney will allow your nominated attorneys to act in your best interest, with the minimum of delay and without incurring unnecessary cost and delay in obtaining an alternative authority to act on your behalf.


Q: In a marriage breakdown, why is a formal, written property settlement document necessary? We will verbally agree which items each party is to take.

A: Property settlement claims may be re-opened unless formally reduced to writing, made an order of the court and certain prescribed periods have elapsed after a Final Decree of Divorce has been issued.


Q: Do solicitors carry out property and business sale settlements?

A: Yes, this is an integral part of their day to day business. They are well equipped to deal with any problematic contractual issues that may arise and usually carry out same at competitive rates.


Colin Garber deals in these areas of law and is

happy to discuss and fix fees where possible.


Contact us on (08) 9472 7833, or send us

an email.