We are all going through unprecedented times with most of us working from home. The uncertainty surrounding our health and work prompts us to think of doing things differently to what we have been for a significant duration.
I know you are overwhelmed with a morass of information in the present times with the COVID 19, however we wish to provide you with the following services that remain available and relevant whilst you are in self-isolation.
Estate Planning:
I can take instructions via a video call, email or a telephone call and assist you in preparing:
1) your Will;
2) an Enduring Power of Attorney (EPA) that appoints an attorney to take care of your financial matters in the event that you are unable to deal with them due to health conditions;
3) an Enduring Power of Guardianship (EPG) that appoints a guardian to take care of your medical requirements and lifestyle decisions in the event that you are unable to deal with them due to health conditions; and
4) an advance health directive (AHD) that enables you to make decisions now about the treatment you would want - or not want.
I encourage you to click on the links below to get more information on how these documents remain relevant in the present times:
1) https://www.publicadvocate.wa.gov.au/E/enduring_power_of_attorney.aspx
2) https://www.publicadvocate.wa.gov.au/E/enduring_power_of_guardianship.aspx
3) https://www.publicadvocate.wa.gov.au/A/advance_health_directives.aspx?uid=6428-3216-6581-9305
Contractual Liabilities
The uncertainty surrounding our work may leave some people with financial difficulties leaving them with thoughts on what happens to our liabilities. Some questions that people would commonly have relate to payment of mortgage monies, home rent, electricity charges, water charges, telephone and internet charges, council rates and charges.
Any liability that we regularly incur like mortgage monies, home rent, electricity charges etc. are contractual liabilities and pandemics do not relieve you from these ongoing liabilities.
Debt collection procedures
Businesses will need to reconsider their current debt recovery procedures as the following laws have temporarily changed:
1. Statutory Demands – the time for payment under statutory demands has been extended from 21 days to 6 months with an increase in the threshold owed before issuing the demand (from $2,000 to $20,000).
2. Bankruptcy notices – the time for compliance with a bankruptcy notice has been extended from 21 days to 6 months for a creditor to initiate bankruptcy proceedings with an increase in the threshold owed (from $5,000 to $20,000).
Businesses must expect delays in payments from its debtors and must consider the following issues when negotiating payment terms with your debtors:
1. Get a written loan agreement with the debtor.
2. Take a security for the debt owed in the written loan agreement and register your interest with the relevant government agency to get the benefit of being one of the preferential creditors.
3. Despite delay, specify the dates for payment of debt. This is because, an agreement such as “I will pay you when I get paid” is vague, ambiguous and unenforceable.
I welcome you to contact me if you need any assistance in understanding your contractual entitlements liabilities, and assisting you in any taking any measures, on your behalf.
STAY HEALTHY AND STAY SAFE
Please note that any information included in this article is general information only and does not constitute legal advice. Please contact us to discuss your particular circumstances.