Rodney Jacobs Lawyer

I am about to purchase real estate. The agent is pressing me immediately to sign before I see my solicitor. Should I?

No! In Victoria the principle of buyer aware applies. It is critical that you consult a lawyer before signing any contract. Yes, sometimes a cooling-off period will apply, but often it will not. And, even if there is a cooling off period, sometimes the three clear business days can be insufficient time to check everything out.

I wish to leave a person out of my Will? Is it true that there is nothing I can do about that person successfully challenging my Will?

No, it is not true. There are a number of legal devices, including the use of joint tenancies and Trusts, which enable a Willmaker safely to avoid leaving a benefit to a particular person.

I am about to purchase a business. Should I establish a company or trust?

The establishment of a company is comparatively cheap, and can be an important measure in your overall asset-protection strategy. And, subject to certain qualifications, a discretionary trust may save you tax on income generated from the business.

What are the advantages of having a Testamentary Will Trust, as opposed to a “normal” Will?

The first benefit is asset protection. Under current Australian Law, assets left for a beneficiary in the form of a Testamentary (Will) Trust are protected from their creditors. The second benefit is taxation. Income from the bequest can be directed by the beneficiary to their spouse or children, often yielding substantial taxation advantages. A third advantage is that such trusts can be drawn to minimise the impact of a beneficiary's family law property dispute.

What work does a business lawyer do in connection with the purchase of a business, such as a mixed business, motel or service industry business?

The purchase of a business involves a variety of laws, including contract law, leasing law, employment law, insurance law and liability law. A business lawyer will advise as to preliminary enquiries, scrutinise the Contract with you and negotiate changes, effect a number of post-contract searches, and, arrange the Transfer of Lease to you.

Are there any assets which, on my death, will not pass pursuant to my Will?

Yes, a number of categories of assets do not form part of your estate, and are therefore not covered by your Will. These include jointly held assets, assets held in a Trust and superannuation left by way of a Binding Death Benefit Nomination direct to a dependent.

I am about to establish a business. Is there a way I can protect my personal assets to cover the event of a sudden, unexpected business failure resulting from a claim in connection with the business?

Yes, there are a number of measures which can be used, involving Trusts, which subject to clawback periods, can help you.

I am about to take up a retail lease. Do I need a lawyer?

Yes, there are a range of matters which a lawyer experienced in this area of law can cover for you. This includes pre-lease enquiries such as those relating to planning and building, perusing the Lease carefully with you to make sure that you understand it (there being a number of traps for the unwary) and assisting you to negotiate terms which are more favourable to you.

I am about to enter into a Franchise Agreement. Do I need legal advice?

Yes, you do. A Franchise Agreement is a complex contract, usually weighted heavily in favour of the Franchisor. An experienced business lawyer can walk you through the contract explaining the pitfalls and assisting you with any negotiations with the Franchisor.