Why You Need Two Wills for Assets in Australia and Iran
If you own assets in both Australia and Iran, a single will may not be enough to ensure your estate is properly distributed. Each country has its own legal system, and without separate wills, your beneficiaries could face delays, legal complications, or even unintended asset distribution. In this blog, we explain why having two wills—one for your Australian assets and one for your Iranian assets—is essential for a smooth and effective estate plan.
Common Mistakes to Avoid When Drafting a Loan Agreement
Avoiding common mistakes in loan agreements can prevent legal disputes and financial losses. This article highlights key oversights such as failing to specify loan terms, repayment conditions, default provisions, and security arrangements. It also covers the importance of addressing major life events like default, divorce, or the borrower's death. To ensure your loan agreement is legally sound and properly protects your interests, consulting a lawyer is highly recommended.
What Is a De Facto Relationship in Victoria?
In Victoria, you can be in a de facto relationship even if you don’t live together full-time. The key factor is the nature of the relationship, not just living arrangements. Courts assess various factors, including financial ties, emotional commitment, and how the relationship is perceived by others. Understanding your legal rights in a de facto relationship is essential, especially regarding property settlements and parenting matters. Learn more about what constitutes a de facto relationship and how it may impact you.
The Risks of Being a Loan Guarantor and Why You Need a Solicitor’s Certificate
Signing a loan as a guarantor is a significant financial responsibility that carries serious risks. If the borrower defaults, you may be required to step in and cover the debt, potentially affecting your credit rating and putting your assets at risk. It’s crucial to fully understand the loan terms and your obligations before agreeing to sign. A solicitor's certificate ensures you are fully informed of the risks, helping you make a sound decision. Before agreeing to be a guarantor, seek legal advice to protect your financial future.
Binding Financial Agreements Before Marriage (prenup)
A Binding Financial Agreement (BFA)—commonly known as a prenuptial agreement—can help protect your assets and provide financial clarity before marriage. Whether you have significant wealth, own a business, or have been through a previous divorce, a BFA can set clear financial expectations and prevent disputes. However, it’s important to consider how asking your partner to sign one might impact your relationship. This article explores when a BFA is beneficial, the legal requirements, and why professional legal advice is essential.