As we become busy with life, we often overlook events that have triggered the need to modify our legal arrangements.
Below is a list of questions dealing with commonplace legal dealings for many our clients, which should take no more than a minute or two to read. If the answer to any of the questions is “no” then you should look into it further. The list is not exhaustive, but it touches on common matters that slip between the cracks.
Personal:
Your Will-
Do you have one?
Are the executors healthy;
Are the beneficiaries correct, healthy and no potential bankruptcies?
Do you still own the property that is specifically given to someone in your will?
Do you know where the original of the will is?
Your Enduring power of attorney-
Do you have one?
Is your attorney healthy?
Do you still trust your attorney to do what is right for you?
Superannuation-
Are binding nominations in place?
If you control a Trust-
Is the appointor (principal) healthy?
Is there a succession plan for the appointor?
Business:
If you control a Company-
Do you have a company power of attorney to operate if you are incapacitated?
Are your ASIC records and addresses up to date?
If you have a Lease-
Have the rent reviews been done?
Many option rights have to be exercised 6 months before the end of the term, or sometimes longer, otherwise the right is lost. Have you diarised the last date to exercise?
If your option is to be exercised in the next year, have you instructed a lawyer to make sure that the option is exercised properly?
If your business relies on some other form of legal rights (eg management rights, franchise agreement, license agreement), have you diarised when notice has to be given for renewal?
QBM Lawyers can help you with your business and personal legal dealings. Please let us know if we can help.
Contact Peter Muller at peterm@qbmlaw.com.au or
Jessica Murray at jessicam@qbmlawyers.com.au.
