Bowen Buchbinder Vilensky (BBV) is one of Western Australia’s most respected law firms, delivering legal advice and solutions across a full range of practice areas.
BBV is the first significant law firm in Perth to offer legal services on a Fixed Fee Pricing basis – we no longer bill by the hour. This revolutionary approach focuses on delivering greater certainty and peace of mind to our clients. It is also consistent with our intent to become a firm of the future. In adopting Fixed Fee Pricing, BBV is helping shape the future of the legal profession into one that is more client focused and outcome driven.
BBV is recognised by the Law Society of Western Australia as an Approved Quality Practice.
By Alana Stallard, Solicitor at Bowen Buchbinder Vilensky Lawyers
29 August 2018
Arguably one of the most controversial and challenging of the formal legal requirements of a valid Will is whether or not the person making the Will has sufficient testamentary capacity at such time that they make their Will. A Will is not valid unless the person making it has testamentary capacity. That is, they must:
(a) understand the nature of the act and its effects;
(b) understand the extent of the property of which he or she is disposing; and
(c) be able to comprehend and appreciate the claims on his or her Estate to which he or she ought to give effect.
However, what happens if a person has no Will and no longer has the required testamentary capacity?
One option of course is that no steps are taken. In this case, when that person dies his or her Estate will be distributed in accordance with a prescribed formula set out in the Administration Act (“an Intestacy”).
Posted on: Aug 29, 2018
By Rhonda Griffiths, Senior Associate at Bowen Buchbinder Vilensky Lawyers
14 August 2018
State tax on real estate transfers used to be called stamp duty- as the documents would be stamped.
Since 2008 state land transfer tax is called Duty under the Duties Act (WA).
What happens where an interest in property is transferred during a marriage or de-facto relationship by one of the parties to the marriage to the other party?
However, duty concessions can support happy families. When, sadly, the relationship has ended and the couple is splitting up, duty relief may also be available.
PART 1 When the couple are settled and happy in their relationship
Duty that would otherwise be charged on land transactions where a couple has established a home together, is exempted by Section 97 of the Duties Act 2008 (WA).
Posted on: Aug 14, 2018
11 August 2017
Here we go again....!
Several significant changes to the superannuation rules became effective from 1 July 2017.Do you really need to know about them? Yes, you do!
Not only will the changes impact on your plans for your superannuation and retirement, but they will very likely also impact on your estate planning objectives and arrangements.
Ok, So What Has Changed?
In summary, the new rules after 30 June 2017 in relation to pensions include the following:
1. A person cannot start a pension with an account balance supporting a pension of over $1.6m (or continue such a pension after 30 June 2017).
2. This limit is called a person’s “transfer balance cap”.
3. When a person starts a pension after 30 June 2017, they will have a “transfer balance account”.
Posted on: Aug 11, 2017
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