Anti-Money Laundering Requirements
Before we start legal work for our clients, we are required to carry out Anti-Money Laundering and Countering Financing of Terrorism (“AML and CFT”) checks. We understand this can seem like an unnecessary and invasive step in engaging a lawyer. So why do we do this? Law firms are now required to complete these checks because they are significant targets for criminals to try to launder money through for the funding of terrorism and other illegal activities. How do we do this?
Costs of Settlement vs Cost of Litigation When Separating
We often advise on the benefits of settlement. Initial costs of settlement may seem high in the scheme of day-to-day expenses. However, these costs are dwarfed in comparison to the costs of litigation. With a separation, when looking to settle what exactly are the costs associated with settlement? A large portion of your costs will be associated with the drafting of a relationship property agreement. This agreement will provide a background of the relationship and separation.
Duties and Obligations as a Trustee
The overall concept of a Trust is simple. It is an arrangement that allows for a third party (i.e., Trustee), to hold assets on behalf of and for the benefit of another person or persons (a beneficiary or beneficiaries). A trustee might be appointed by someone to hold property in a family trust (also known as an inter vivos trust) or alternatively may be appointed in a person’s will (testamentary trust) to hold property and undertake duties in relation to it after a person h
DIY Relationship Property - What You Need to Know
Relationship Property DIY – It can be costly! As they say at Mitre 10: “DIY…it’s in our DNA!” But, when it comes to dividing relationship property following separation, DIY can be a costly mistake. The Property (Relationships) Act 1976 sets out the law relating to the division of property in the event of separation. It lays out the general expectation of equal sharing between couples. The Act also provides that couples can make their own rules relating to the division of prop
Relationship Property and The Death of a Partner
Where one spouse dies leaving a spouse or defacto partner, the surviving spouse or defacto partner has two choices. They can choose to either: (a) to apply for a division of relationship property under the Property (Relationships) Act 1976 (“the Act”); or (b) take under their deceased partner’s will or the laws of intestacy. This can be a very important choice for the surviving spouse or defacto partner if they have not been provided for in their deceased partner’s Will.