Entries by LawAnswers Australia

Do You Want to Challenge a Will?

A valid Will is the direction from a deceased person as to how they want their estate distributed. For this reason, a court will not consider changing this direction without a valid reason to challenge a Will and only under limited circumstances. What are grounds to challenge a Will? All Australian States and Territories generally […]

How to Apply for Divorce

Divorce (or dissolution of a marriage as it is also known) can be as straightforward or as complicated as the marriage itself. Most people find themselves in a situation where they don’t know when or how to apply for divorce. While it is possible to undertake divorce proceedings yourself, because of the emotions involved in […]

What is a Shareholders Agreement?

A shareholders agreement is a written contract to reflect the agreement that shareholders have reached in regard to their: Relationship with each other. Business arrangements. Rights. Responsibilities. Liabilities. Protection of interests. The shareholders agreement regulates matters that are not covered within the company’s constitution. The company’s constitution and the shareholders agreement work in conjunction with […]

Are You Considering a Unit Trust?

A unit trust allows all beneficiaries to have a fixed interest in all properties that are the subject of the trust. A unit trust differs from a discretionary trust, where the beneficiaries’ access and rights to capital and income are at the discretion of the trustee. Put simply, beneficiaries of a unit trust will receive […]

What You Need to Know About Preference Shares

Preference shares are shares that are given priority over normal shares. These shares entitle the shareholder to get paid their dividend first before other shareholders. If the company becomes bankrupt, the preference shareholders are entitled to be paid first from the company’s assets behind the company’s secured creditors. Do they pay out a higher dividend? […]

What Type of Employment Agreement Are You On?

All Australian employees have a common law contract of employment, either written or unwritten, that sets out the terms and conditions of their employment. Of course, all employees should have a formal written employment agreement, but not having one doesn’t mean an employer and employee haven’t entered into a contract. A written employment agreement can […]

Section 10 Dismissal – What Is It?

Under the Crimes (Sentencing Procedure) Act 1999 (NSW), the courts have the discretion to discharge a person guilty of a crime without recording a conviction. A Section 10, as its commonly known, gives the courts the ability to prevent a guilty person from being punished if it is deemed inappropriate due to extenuating circumstances. A […]