Important information about Wills

Today the ABC's law report ran a very informative story on wills. If you are thinking about udating your will, or even more importamntly, if you haven't got a will you should take the time to listen to this story.

"Wills
Wills: they tell the world how the dead want their assets carved up, but do they always get carried out in an efficient way?"

You can access the Law Report here.

This specific article is available for download for a month (after a month you can contact the ABC and they will dig it up for you.)

Property tips for buyers

When buying property make sure you know what you are getting. Always arrange an independent Pest and Building report. You may also want to arrange a valuation.

Valuations

While real estate agents usually have a good understanding of the local market they are biased in their views on what a property is worth. Agents are going to be paid if and when the property is sold, so their estimation is always coloured by this incentive.

You can get a valuation from two main sources; professional valuers and database estimates. The benefits of independent provider sis that you get a complete and accurate report that has been created specifically for you, and not for a real estate agent or a vendor.

Statistical Estimates

A Google search for property statistical estimates will help you locate providers of this service. Statistical estimates have strengths and weaknesses.

I am of the belief that the statistical estimates are useful in two main ways; the first is in general research into a suburb, and the second is to help assess the value of the average house on the average street in a particular suburb or market.

Beyond these scenarios people still need to hire a valuer to go and inspect the property, along with the building and pest inspectors. The very nature of statistical estimation means that if a particular house or property is in any way unusual that uniqueness is not identified, and so the estimate could be too high or too low.

Physical inspections by qualified professionals

For a more precise estimate of the value of a property it is best to contact a qualified valuer. We recommend you use www.evaluator.com.au to arrange your valuation, but you could also search Google or the white pages for alternate providers.

Pest and Building reports

You really do want to know of there are problems with the property before you agree to buy it. The cost of repairs is often greater than $20,000 for things such as subsidence or termite damage, and the bill can often top $100,000.

The couple of hundred dollars that you spend on these reports has the potential to save you many times that amount in the long run.

We also recommend www.evaluator.com.au for you to order your pest and building reports.

Think of these reports as a cost of buying like stamp duty or insurance, or even better as an investment into avoiding costly repairs.

If you have any questions you would like to ask about buying property you are welcome to call us on 02 4365 6556 or email us.

Customer Satisfaction at Erina Legal

Customer satisfaction is one of the core values of Erina Legal. We know we are here to serve our clients. As a result of this, we work hard to understand your needs and to listen to you, the client.

Our team are highly competent in their field, but these days we recognise that is not enough. You want someone who understands you and who cares about you and your legal matter.

You also want someone who clearly communicates what is going on, what the next steps in your legal matter are and what we are doing about them. So we talk to you as well as listen.

If you have any problems with our service we want to know about them so that we can address them. Any problems you may have can be discussed with Wayne Brown and if he is not able to assist, you can speak to Denise King, our principal lawyer.

Problems are often based on unfounded misunderstandings or assumptions. Usually the best results are achieved from a discussion about the issue.

We always do our best to address your issues to ensure that we can continue to work together. So far we have a good track record with our clients and we welcome you to become part of that success.

Trademark your brands and business name

If you value your business and product names you should take steps to guard them through trademarking them.

Just ask Ian McDonald formerly of McDonald's hamburgers at Rosebud Victoria. Mr McDonald has had to cease trading under his own name and change the name of his hamburger shop to avoid an expensive legal battle with the global hamburger giant McDonald's.

It's not that Mr McDonald couldn't have won his case, it's just that it was going to be expensive to fight.

"I decided not to go to court because the prospect of massive legal fees was too daunting," Mr Macdonald said.

On the other hand Malcolm McBratney decided to fight McDonalds on principle. He was using the label McBrat's on his local rugby teams' shorts as part of a sponsorship arrangement.

McDonald's had registerred the trademark McKids a few years ago in preparation for a McDonald's kids clothing line, and according to them the McBrat's logo was too similar and could cause confusion in the market.

The Federal Court ruled this week that McBratney could register and have his nickname appear as a registered trademark on his team’s shorts.

I have provided these two topical examples as an illustration of the complexity of the issues. Basically if you are in business you need to take active steps to manage your business, brand and product names. You can help manage the risks to your business name and brands by registering the appropriate trademarks.

In the current environment of competition for brands and intellectual property you shouldn’t hesitate to take this step. The costs of re-branding can be very expensive, not to mention customers losing you with the change of name.

You can read more about registering trademarks yourself at IP Australia or if you want to get professional assistance you can contact us at Erina Legal to discuss your needs on 02 4365 6556.

How to find the right lawyer for you

When choosing a lawyer you need to consider what is most important to you. Most people don't buy services from lawyers every week and so are a little unsure about what is most important. This guide describes the three most important attributes you should look for.


Expertise - Choose a lawyer who has expertise in the area you need.
Working together - Choose a lawyer you can best work with.
Quality of Service - Find a lawyer who can deliver a good service.

Expertise
There are many areas of law and there are continuing changes in legislation, case law and procedures in each area of law. No one lawyer can keep up with all of the changes to all areas of law. It is important that you choose a lawyer who has relevant updated qualifications and experience in the area of law that you need.

Lawyers advertise what their specialities are in the yellow pages and other advertisements. You can also call the firm before your first meeting and ask about relevant experience for your particular need if you are unsure from their advertisements.

Sometimes the lawyer may not be an expert in the particular area of law you need, but may have enough experience together with briefing a barrister with expertise in that area to provide the service you need. Ask about this.

All Australian lawyers have at least a university degree of three to six years and a Post Graduate Diploma in Legal Practice as well as a certificate of admission to the relevant Courts before they are allowed to practice as a lawyer. They are then required to have two years of supervised work experience before being given an unrestricted practice certificate and must complete at least ten hours of continuing legal education each year to maintain their practice certificate.

Many lawyers do further post graduate studies such as Specialist Accreditation with the Law Society, Post Graduate Diplomas, Master of Laws and Doctorate of Laws at university and some also in other disciplines related to their law specialisation. When phoning to arrange an interview feel free to ask what areas they have training and experience in.

Working together
Your lawyer will be working with you intimately, and possibly over a sustained period of time. Like relationships with people in general, there are some people you can get on well with and others that you can't. When you meet your lawyer for the first time the first interview is for both of you to decide if you can work together.

Can you sit comfortably with this person and tell them about your aspirations and how you see your future? Do you trust them to work for your best interests, and to work hard? Will the work be between just the two of you or will there be others involved? If other lawyers will be supporting the work you might like to also meet them.

You should discuss how you will communicate. Will this be mostly by email, phone or face to face meetings. Do you understand each other when you speak or do you constantly need to clarify meanings?

You and your lawyer will be working together as a team and as a team you need to be able to effectively communicate and work together. You need to be comfortable working as part of that team. Your lawyer has the expertise and experience to help you achieve your goals. You have the relevant information about your particular circumstances that will assist your lawyer to do so.

Quality of service
As the customer you also have an expectation of a certain level of service. How quickly will your calls be returned, how long will you have to wait for an appointment, will you be kept appraised of updates in your case? Again, this is a topic for your first meeting.

Of course the team at Erina Legal are confident we can deliver high quality and reliable results in all the areas of law we provide. You are welcome to call us (02 4365 6556) and book your first appointment today. An initial consultation only costs $180 for up to one hour. After that if you want us to commence working for you, we will provide you with a Costs Agreement and some estimates of costs and what may need to happen.

Our main areas of expertise include;

• Family Law
• Financial Agreements
• Conveyancing and Property Law
• Wills, Power of Attorney, Enduring Guardianship, Probate
• Small Business Law
• Mediation
• Employment Law
• Civil Litigation

For more information about our service phone 02 4365 6556 to discuss your needs.

Child Support Scheme has changed from 1 January 2007

The Australian Government is changing the Child Support Scheme to ensure it meets the best interests of the children, better balances the interests of parents and reflects today’s community. The new Scheme also aims to better reflect the costs of children.

The reforms adopt recommendations made in The Ministerial Taskforce on Child Support report, In the Best Interests of Children – Reforming the Child Support Scheme. They are being introduced in three stages over two years.

• Learn about the reforms introduced on 1 January 2007
• Learn more about the Child Support Scheme reform program

Child Support Agency investigates delinquent payers

PARENTS who minimise their income to cheat their way out of paying child support will come under increased scrutiny.

The Child Support Agency has employed an extra 120 financial investigators so it can investigate 2400 separated parents across Australia each year, four times the previous amount.

General manager Matt Miller said the agency was focusing on parents who lived in "affluent suburbs" but have reported low incomes to pay the minimum child support, which is about $6 a week.

"These parents are not only cheating the child support system, they're cheating their children," Mr Miller said.

The move comes after increased concerns that parents were hiding their income illegally, working for cash-in-hand payments or minimising their income through salary sacrificing for tax purposes.

But parents paying child support are not the only ones under investigation. Those on the receiving end will also be scrutinised.

Mr Miller said the agency had already uncovered cheats through data matches from a variety of sources, including bank statements and tax records.

An extra $3.6 million had been uncovered by the agency this financial year and the additional funding from the Federal Government was expected to deliver $460 million more for children.

Source: www.news.com.au

Beware of the pitfalls of Reverse Mortgages

A report from SEQUAL, a lending association targeting seniors, has highlighted the dangers of Reverse Mortgages. Reverse mortgages have become popular in recent years as retirees seek to maximise their income. It's a product that is gaining more popularity with financial planners. They have been particularly popular with people who have benefited from the property boom of a few years ago.

Be aware that financial planners are often paid commissions when the sell loans and other third party financial services to you. Just because reverse mortgages are popular with the lending industry does not mean they are right for you. For a start reverse mortgages will reduce your total equity in your home meaning there is less money there for your kids inheritance and in case of unexpected expenses later in life.

You can learn more about reverse mortgages at ASIC's website here.

SEQUAL is an industry association that has drafted a code of conduct designed to ensure high quality financial advise for seniors. They warn all consumers of financial advise that they should get legal advice on any financial agreements that they are party to.

"It's very important that they have a lawyer look over the contract, explain the obligations to them, and make sure they're doing it for the right reasons."

You can call Erina Legal anytime to have financial agreements reviewed on 02 4365 6556.

Erina Legal - a family business serving families

Denise King is the solicitor/director at Erina Legal. She is also the mother of Craig and Wayne Brown from her previous marriage to Walter Brown.

Denise was born and grew up in Sydney, and moved to the Central Coast when her parents retired at the time of her divorce in 1977. She raised Craig and Wayne while studying a Bachelor of Arts degree majoring in Psychology and Education followed by post gradute studies in psychology, counselling and conflict resolution then a Bachlor of Laws and Post Graduate Diploma in Legal Practice and working in various positions in education, health, teaching and law then counselling and mediation in her own business and finally in her own legal practice. She is presently completing a Master of Laws by research on Family Law and aims to one day retire and write books and articles on her experiences in law.

Some past memberships were in the Central Coast Talented Children's Association while working for the Education Department, the Gosford Philharmonia Choir and Christ Church choir, secretary of the Central Coast branch of the Australian Federation of University Women and an inaugural member of the Erina Club of Rotary. She has been a member of the Liberal Party for nineteen years, currently a member of the Terrigal branch.

Craig (left) and Wayne (right) Brown in the back office at Erina Legal. Craig and Wayne grew up and went to school, college and university on the Central Coast.

Craig completed a Bachelor of Business at Central Coast Campus of Newcastle University and has since completed a Graduate Diploma in Project Management and is presently studying a Masters degree in Project Management. He has had a number of years experience in project management. He was initially a director of Erina Legal but resigned because of living in Melbourne and pursuing other interests. He is presently the manager of Erina Consulting. Craig is expecting his first baby in September, 2007.

Wayne completed a Diploma in Business Management and a real estate license at Gosford College of TAFE. After a number of years experience in business management, real estate sales and manager of Erina Legal since 2004, he is presently studying an Associate Law degree in conveyancing while continuing his role as manager and conveyancer at Erina Legal

Wayne married Kelly O'Connell in September 2003 in idylic Vanuatu and they are expecting their first baby in August, 2007.

Kelly grew up on the Central Coast and completed her qualifications as an architect at Newcastle University where she was awarded the University Medal and a number of other prizes having graduated with first class honours.

Buddy the loved family half blue cattle and half border collie dog.

Divorce has significant impacts on Home Ownership

A paper from the Australian Institute of Family Studies highlights that divorce can have long term impacts on your economic wellbeing.

This report is one of the first to look at the long term financial effects of divorce on the family. It involved a study of people aged 55-74 and compared divorced to never divorced people’s economic circumstances. The findings were from a limited sample size, and are only averages, so you may well be an exception to the rule.

The key findings were; if you divorced you are likely to be worse off financially than people who don’t divorce, however, if you remarry most of this negative impact will be reduced. The short term financial impacts are clear to many, however the long term effects of shouldering all financial burdens should not be ignored.

Home ownership was one of the most significant indicators in the study of economic wellbeing. Married (and never divorced) people’s outright home ownership rates are almost doubles that of divorced people.

The best way to deal with this when going through separation is to get sound financial advice, and in our opinion that advice should include buying property as soon as you can. When you come to the end of a property settlement you should look for a financial planner and arrange a meeting to discuss your options. Careful planning will avoid many long term financial problems.

Erina Legal does not provide financial advice but we can assist you in reviewing contracts and terms for loans and investments.

Erina Legal can assist you in purchasing and selling property. Call us now to discuss how on 02 4365 6556.

Wills, Power of Attorney and Enduring Guadianships

Here are our prices for wills, powers of attorney and enduring guardianships. If you would like to know more about our services you can call us on 02 4365 6556.

Wills

Pensioner Standard: Single - $120.00 Couple: $180.00
Non-Pensioner half hour: Single - $150.00 Couple: $225.00
Non-Standard (over half hour): $220.00 p.h.

Power of Attorney

(Fee half price if obtained with a Will or Enduring Guardianship)
Pensioner: Single - $80.00 Couple: $120.00
Non-Pensioner: Single - $120.00 Couple: $180.00
Registration fee: $71.00

Enduring Guardianship

(Fee half price if obtained with a Will or Power of Attorney)
Pensioner: Single - $120.00 Couple: $180.00
Non-Pensioner: Single - $150.00 Couple: $225.00

Divorce: The impact on the Kids

The Melbourne Age published an article today on the fact that there is a huge spike in divorce and separation matters at this time of year. Hypotheses about why abound; It’s because Christmas crystallizes people’s opinions, because it’s a New Year and time to get things done, or because people just plain ran out of time in the previous year.

The bottom line is that people are going to be seeing their lawyers to discuss their options this month.

Erina Legal manages family law matters for client and has a range of options available to help including mediation, negotiation and litigation where differences can’t be resolved outside the courts.

The source of the article is a UK information website about divorce called Inside Divorce. The rules around divorce are different in the UK to Australia but there is some interesting information on the site including this article on the impact of divorce on children.

Naturally, as a parent your main concern when separating is the effect on the kids’ happiness. The good news is that Children are mostly okay with their parents’ divorce. Kids also say they want their parents to not argue about them. This suggests that parents, where possible should negotiate an amicable arrangement.

Mediation is generally regarded as the best medium to achieve amicable settlements in stressful disputes. So, where possible, ask your lawyer about the opportunity for mediating your arrangements regarding the kids.

You can read more about this here.

Erina Legal has an Ebay Store!

In what may be a world first Erina Legal, a law firm on NSW’s Central Coast has launched an e-bay store for legal services.

On Monday 27th November the store was set-up offering fixed price legal services include drafting Wills, Property Conveyancing and Consultations.

It is here: http://stores.ebay.com.au/ErinaLegal

Erina Legal is trialing the online Auction site as a sales channel to complement its local marketing activities.

E-bay is a behemoth in the online marketing world, and in the last year they have been developing the online e-bay store product.

Most stores are geared towards physical products. Erina Legal has signed up with e-bay to create an online store for professional legal services.

We have offered a range of fixed price services via e-bay, including Conveyancing, Wills and Legal Consultations and hope people use the site to book services. We see the greatest long term benefit of the e-bay sales channel as the customer feedback mechanism.

If customers give positive feedback (which we are confident of) we will be able to display independent feedback on the quality of our service to other customers.

Our next step is to promote the e-bay store and see if people adopt it as readily for legal services as they do for other products – and then continue this experiment in online marketing by gathering feedback from customers.

Erina Legal is a small legal practice on the NSW Central Coast specializing in Family Law, Conveyancing and Wills and Estate Planning. We are keen users of technology and are fascinated by the internet and it’s opportunities for small businesses.

http://stores.ebay.com.au/ErinaLegal

The Central Coast Property Market

As a manager of a local Law Firm on the Central Coast and a former Licensed Real Estate Agent, I have had a keen eye on how the market and how it has reacted to the volatile conditions in the area and beyond.

As expected there has been the usual increase in activity in these warmer months of the year leading up to Christmas but what wasn’t expected was the confidence buyers have had that the market conditions will improve. The media publications have gone hot and cold on the subject for quite some time and there is a general optimistic trend among sellers who have been patient over winter and are now achieving some favorable results.

That said there will always be activity in the property market by owner occupiers but the real trigger for newfound activity in the market are investors and while the stock market in making god returns for the small time investors there is no real incentive to get back into the staple property market.

Recently there was a report released in the media stating that rental prices will be up by 40% in the next 10 years or so; and this news, while not so great to renters, is confidence boosting for those in the property game.

An increase in rental prices will put many potential property buyers who have been on the border of renting verses buying for some time further into the buying camp. This injection of new players in the market will increase demand and see another spike in property values and push more people into the suburbs.

What does this mean for the Central Coasts property market? The average house price in the area is between $300,000 to $400,000 and unit price between $300,000 & $350,000 making it a relatively affordable option compared to the western suburbs of Sydney. This has already been experienced in the northern part of the Coast where massive new housing development has been extremely popular with ex-pat Sydney-siders due to it’s ease of access to the freeway, often being a quicker alternative to Western Sydney and traffic chaos.

It is difficult to say what will happen here on the Central Coast over the next 12 months with an additional rate rise looming and a 6% increase in new building approvals in the last Quarter.

Interest rates have played a big part in slowing the property market down here on the Coast but it surely hasn’t stopped it in its tracks. Summer vacancy rates in rentals, speculation of increased rental incomes and an ever volatile share market will all surely play a big part on the current and future market conditions.

Wayne Brown
Practice Manager

Are you buying or selling property in NSW?

Erina Legal can work with you over emails, phone and fax to facilitate your conveyancing anywhere in NSW.

How do we work with you?
Conveyancing does not require face to face meetings. The only times you are usually required in your solicitor’s office is to review and sign your contract. Erina Legal can provide these services to you using phone and email to manage most day to day communications.

In fact we manage communications with many of our existing clients this way. The only additional feature an “out of area” customer needs is the ability to receive and send key documents by registered mail or courier.

Why Erina Legal
Erina Legal is a modern and reliable legal firm on the Central Coast of NSW. Our team is very experienced in conveyancing. Among the team we have an ex real-estate agent who can provide advice and recommendations on the pre-conveyancing part of the selling or purchasing process. Additionally we have a technically savvy team who have automated back office systems and can work with you via phone and email.

We are a customer focused business and believe the best way to work with our clients is to communicate with you; telling you about the process and keeping you informed as we go.

Erina Legal is ideally suited to meet the conveyancing needs of people investing in property on the Central Coast or the North Coast of NSW. Additionally we can work with people buying and selling property in Sydney and Newcastle (or anywhere else in NSW.)

See our rates here, or contact us today on 02 4365 6556.

Erina Legal

About Wills, Power of Attorney and Guardianships

Learn more about wills, POA and Guardianships here:

Wills
Most people know what a will is and why it is useful. Having your will prepared by a solicitor will provide you with a will that is less able to be contented as it will take into consideration the relevant legislation and case law.

An additional benefit is that the will is able to be stored in a safe and reliable location. When you are gone, people will be able to find the latest version of your will with no confusion.

Power of Attorney
An "Enduring Power of Attorney" is one that specifically provides that it will continue to be effective even if the giver becomes incapacitated. A Power of Attorney can be revoked at any time and ceases to be valid on your death.

Your Attorney is the person you nominate to conduct your business and financial affairs on your behalf if you are unable to do so because of incapacity or if you travel away from home. You should only appoint someone you trust. Your Attorney's powers can be unlimited or restricted depending on your requirements.

Enduring Guardians
An "Enduring Power of Guardianship" only comes into effect upon your loss of capacity and will continue to be effective during the period of your incapacitation.

Your Guardian is the person you nominate to make decisions about your medical and dental treatment, where you should live and what other services you should receive if you become unable through incapacity to make those decisions for yourself. Your Guardian has no power to deal with your assets.

• See our rates here.

Prices for Wills, Power of Attorney, Enduring Guardianship

Our current fees for Wills, Power of Attorney and Guardianships are as follows:

Wills
Pensioner Standard: Single - $120.00, Couple: $180.00
Non-Pensioner half hour: Single - $150.00, Couple: $225.00
Non-Standard (over half hour): $330 p.h.

Most wills fit into the standard timeframes. If yours is an exceptional case you will tend to know before you arrive. We can discuss your needs in our first meeting.

Power of Attorney
Pensioner: Single - $80.00, Couple: $120.00
Non-Pensioner: Single - $120.00, Couple: $180.00
Registration fee: $71.00

POA Fees are half price if obtained with a Will or Enduring Guardianship.

Enduring Guardianship
Pensioner: Single - $120.00, Couple: $180.00

Non-Pensioner: Single - $150.00, Couple: $225.00

Enduring Guardianship Fees are half price if obtained with a Will or POA.

Call us now and discuss your needs, or read more about why these tools are useful.

Conveyancing Rates

Erina Legal standard conveyancing rates are as follows:

• Sale of residential property - $850
• Purchase of residential property - $1200

There are additional costs (disbursements) which are the fees involved with the transfer of land, certain searches for information from local and other government bodies, and so forth. We can discuss these on a case by case basis as the nature of the purchase will drive what activities are required.

If you are selling, or thinking of selling you can call us now to prepare your contract (real estate agents will require a contract prior to listing the house for sale.)

If you are buying you should contact us prior to signing the contract so we can advise you of the processes in detail and any major risks based on the contents of and attachments to the contract.

Call now with no obligation to discuss your needs on 02 43656556, or read more about conveyancing here.

Business Law @ Erina Legal

Did you know that NSW is said to be the 4th most litigious state in the world.

People sue for a number of reasons including failing to deliver on promises, on different interpretations on terms in contracts, and when circumstances change and accidents occur.

Erina Legal can help you manage risk by giving you advice on matters you are less experienced at. We can help you avoid problems in the future by making sure contracts and agreements you have with suppliers, customers and employees are clear and comprehensive.

Many of our business law clients come to us when they already have a dispute. Often that dispute is the result of contracts written without consideration of the range of future possibilities.

Business law is about managing risk and maximising your power at the negotiating table. Lawyers are trained to consider all possibilities when drawing up or reviewing contracts. We can help you avoid problems, to reduce the impact of problems when they do occur, and to provide some certainty about how problems can be resolved.

Come and see us to avoid disputes or deal with them when they occur.