Author: Pamela Wood

The 2026 Federal Budget has proposed some of the most significant changes to Australia’s tax regime in recent years. As a result of proposed tax changes to testamentary discretionary trusts, some of our clients contacted us with concerns about whether all estates would soon be subject to a new “death tax”. At the time of…

Heads of Agreement (HoA) and Memorandums of Understanding are just some of the terms used to describe important pre-contractual agreements that serve as a blueprint for many commercial ventures. They help guide negotiations while simultaneously documenting the intention of the parties to “commit” before a formal agreement has been drafted. However, many people share the…

New Client Identification Requirements from 1 July 2026 From 1 July 2026, Australian law firms are now subject to new obligations under the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Act. These reforms are part of a national initiative to help prevent money laundering, terrorism financing and other serious financial crimes. Similar requirements have applied to…

In NSW, Vendors are responsible for keeping the property that they are selling in the same condition as at the time of exchange (with the exception of reasonable fair wear and tear). The risk of damage to land does not pass from the vendor to the purchaser under an executed Contract for the Sale and…

In today’s financial market, it is not uncommon for parents to financially assist their children with the purchase of real property or contributions to their business. What happens in the unfortunate event that the couple that receive assistance from one or both parents separate? Was it a gift or was it a loan? Gift A…

5 Frequently Asked Questions: Buying and Selling your home in New South Wales Over the past 65 years, the experienced property and commercial team at Willis and Bowring have dealt with and overseen the sale and purchase of thousands of residential properties across New South Wales. Whether it’s for investment purposes or personal enjoyment, we…

Adult Child Maintenance Child Support Agency Prior to bringing an application to the Federal Circuit and Family Court of Australia for adult child maintenance, an adult child/parent of the adult child must make an application to the Child Support Agency. The application is means and merit tested. Federal Circuit and Family Court of Australia The…

If you are a parent that has a child with special needs, setting up a trust in your Will can be an essential part of an Estate Plan that ensures the long-term needs of your child will be met in the event of your death. In some cases (but not all), a Special Disability Trust…

IS A BINDING FINANICAL AGREEMENT THE RIGHT OPTION FOR YOU? Are you entering into a relationship, already in a relationship or has your relationship broken down irretrievably. Have you considered a Binding Financial Agreement? A Binding Financial Agreement can be entered into on three occasions: 1. Before a marriage/de facto relationship; 2. During a marriage/…

Estate planning is often filled with intricate challenges, particularly when it comes to anticipating potential outcomes that may arise during the drafting of a testator’s will. A testator has the freedom to allocate their assets as they see fit, whether that be to family members, friends, or other beneficiaries. However, if the testator wishes to…