Szabo & Associates News & Updates

Trusts are used by lawyers in a variety of different ways. Solicitors will include a trust in a Will where, for example, parents want someone to look after their money for the benefit of their children after their deaths. There are, in fact, several types of trust but the most common are express trusts which include fixed and discretionary trusts. A fixed trust is where the trustees have no choice as to who the beneficiaries are or how much they receive. In a discretionary trust they distribute the trust property as they see fit. However, they must distribute it as they cannot keep it for themselves. For an express trust to be valid there have to be certain formalities adhered to (the ‘three certainties’), the purpose of which is to ensure the trust is properly controlled and enforced.

Some business owners and residents in Sydney are in dispute with NSW Government over its planned WestConnex project and supporting road structure, reports the Sydney Morning Herald. The project, which involves the construction of a tunnel linking Sydney’s Anzac bridge with the M4 Motorway, will require the compulsory purchase of key areas of land. Two businesses located on land to be purchased have objected to the values placed on their land by Roads and Maritime Services, claiming that the amount of money offered for the compulsory purchase is far too low. The business owners have also pointed out that they had previously applied for their land to be rezoned from industrial to residential, which could dramatically increase the land’s value. Legal action in the Land and Environment Court has been threatened by one of the businesses if a satisfactory resolution can’t be achieved. A third business has already brought legal action against the compulsory purchase and land valuation. Attempts had been made to resolve this dispute through mediation, but were unsuccessful and the case is now apparently proceeding to the Supreme Court. Local residents are also in opposition to the Government’s plans, with protests being held against the proposed construction of the F6 motorway to link in with the WestConnex tollway, reports Green Left Weekly. Protestors are concerned about the environmental and health impacts of the construction work and also claim that, once built, the new system will bring increased traffic into the area, which will have further negative consequences.

The Duke in Shakespeare’s Measure for Measure famously remarked ‘What’s mine is yours, and what is yours is mine’. Perhaps not in law! Maybe you are currently living with a partner without the formality of a marriage certificate but does this necessarily mean that ‘what is yours is indeed yours’?

Background

The old English proverb claims ‘where there’s a will there’s a way’. Unfortunately, the way may be difficult if there is no Will! Research shows that almost half of Australians do not have a Will and for those who do many are not up to date (meaning perhaps as little as 35% of adults have a current Will) exposing their family to complications and possible financial difficulties on their death. By making a Will you ensure that your wishes for your estate are respected after your death.

The process of separation is difficult. It is often a time when emotions and conflict are at their highest.