risk-management.php

Water hotline service

LPLC has a Water Hotline that answers our practitioners client-related water unbundling questions.

Practitioners should email Heather Hibberd at heather.hibberd@lplc.com.au or contact her on +61 3 9672 3800. Where the queries are complex we will brief one of our panel of water experts to advise and LPLC will pay for the  first half of time in providing the answer. The response will be provided to the LPLC and the enquiring practitioner. If the query requires more than the half hour the panel practitioner will contact the insured practitioner making the enquiry and come to an arrangement.

Contact details
Heather Hibberd | +61 3 9672 3800 | heather.hibberd@lplc.com.au

3 September 2018

Expect the unexpected

Conveyancing practitioners need to look for non-standard transactions. Victorian law practices act in hundreds of conveyancing transactions every week worth millions of dollars. Conveyancing transactions invariably comprise many moving parts with the potential for things to go wrong, but usually they do not. The challenge is how to maintain your curiosity and vigilance to ensure […]

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1 August 2018

When to say goodbye

Practitioners should act decisively on non-performing clients. Practitioners need to proactively manage clients who do not appreciate the value of their services. This includes knowing when to act decisively by not accepting a retainer or terminating a retainer within r13.1 of the Legal Profession Uniform Law Australian Solicitors’ Conduct Rules 2015. Clients who do not value your services heighten your risks and […]

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1 July 2018

When parents lend to children

Be alert to the risks when advising on parent loans to home buyers. Last year, financial services comparison site Mozo reported that young home buyers in Australia have borrowed $65.3 billion from their families, making the bank of Mum and Dad the country’s fifth biggest lender. The June 2018 LPLC column “Take a step back” […]

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28 June 2018

In Check Issue 79 | June 2018

Download PDF New requirements for some purchasers to withhold GST – 1 July 2018 From 1 July 2018 purchasers of certain new residential premises and potential residential land will be required to withhold the goods and services tax (GST) and pay it to the Australian Tax Office (ATO). Vendors of residential premises or potential residential […]

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1 June 2018

Take a step back

Seeing the big picture is essential for good matter management. Experienced busy practitioners practising in their area of expertise are still at risk of claims. Unless you take time to stop and think about each matter it is easy to assume it is just like the last one you worked on. Don’t get so caught […]

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25 September 2018

PEXA, email, electronic funds transfers and cyber-crime

Download PDF Table of contentsPEXA, email, electronic funds transfers and cyber-crimeThe risk of EFT-fraud for lawyers is human error, not ITVerify all email instructions for the transfer of fundsAlways double-check bank account details before sign-offPEXA residential seller’s guaranteeWhat the PEXA residential seller guarantee coversThree-day time limit for seller to apply for guaranteeWhat to do if […]

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25 September 2018

GST withholding practical examples

Download PDF Table of contentsGST withholding practical examplesResidential premisesFarm landVendor registration GST withholding practical examples This bulletin contains practical examples in question and answer format of how the purchaser GST withholding provisions work. For general information about the withholding requirements see the bulletin Some purchasers required to withhold GST from 1 July 2018. Contracts signed […]

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4 September 2018

Retrospective changes proposed for residential ‘off the plan’ sunset clauses

Download PDF Table of contentsRetrospective changes proposed for residential ‘off the plan’ sunset clausesSunset clauses – details of the proposed amendmentsRetrospectivity trap for practitionersWhat you should do nowOther legislative changes proposed in the bill Retrospective changes proposed for residential ‘off the plan’ sunset clauses The Sale of Land Act Amendment Bill 2018 (Vic) (the bill) […]

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14 August 2018

Medical Treatment Planning and Decisions Act 2016 (Vic)

Download PDF Key points   Appointments of medical treatment decision makers and advanced care directives replace medical powers of attorney and refusal of medical treatment certificates from 1 July 2018. Medical power of attorneys entered into before 1 July 2018 are taken to be appointments of medical decision makers. Any refusal of treatment certificates created […]

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7 August 2018

Some purchasers required to withhold GST from 1 July 2018

Download PDF Suggested resources: Vendor/supplier GST withholding notice Key points New GST withholding regime applying to some settlements from 1 July 2018. New notification obligations on vendors of new residential or potential residential land. New notification and withholding obligations on purchasers of new residential or potential residential land. Penalties apply for both vendor and purchaser […]

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21 September 2018

Risk management essentials for lawyer directors

Serving on a company board can be rewarding for practitioners in various ways. However, when taking on a directorship, including for a non-profit, you need to be aware of the risks including the potential for the separate roles of director and legal adviser to become blurred. Any lawyer director needs to consider whether they are […]

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14 September 2018

Email instructions in relation to payment of a bank cheque – what would you do?

You are handling a property settlement for a vendor and receive a bank cheque at settlement made payable to the client for the net proceeds of sale. You send an email to the client confirming settlement and advising that you are holding a bank cheque for the client. You receive an email reply asking you […]

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31 August 2018

Are your lender clients secure?

Are your lender clients secure? Failing to put in place proper security for lender clients was one of the most costly mistakes in our mortgage claims in the last policy year where the total mortgage related claims accounted for 19 per cent of the cost of all claims. We have recently updated our Keep managing […]

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24 August 2018

Time to review your precedent letters

Do you know what your purchaser precedent letter says? When was the last time you thoroughly read and thought about your purchaser precedent letter? In a recent claim the purchaser clients discovered five years after they settled on their property that part of their house extended beyond the boundary of the land onto the road […]

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17 August 2018

What did they expect?

When sued by a client, the reaction from some practitioners is ‘What did they expect for what I charged?’ However, a court will give little regard to your fees when determining the extent of your retainer and whether you discharged your duty. You need to be clear about the scope of your retainer, irrespective of […]

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7 May 2018

Key Risk Checklist: Sale of land – questions for the vendor

Sale of land – questions for the vendor   Instructions ☐  Please circle yes or no as applicable. ☐  Please provide the additional information as indicated e.g. a copy of your title(s). ☐  If you do not know the answer or are unable to provide the additional information please insert the words ‘not known’. ☐ […]

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24 April 2018

Key Risk Checklist: GST

GST is not simple but there are some easy steps you can take to help protect you and your clients. References to divisions and sections can be found in A New Tax System (Goods and Services Tax) Act 1999 (Cwlth). GST alert – for contracts entered into from 1 July 2018, purchaser to collect and […]

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27 January 2018

Risk management audit checklist

Don’t wait for the worst to happen – use this audit checklist to determine and monitor whether your practice is at risk of a negligence claim. Introduction This audit checklist is a risk management tool for legal practitioners to determine and monitor whether their practice is at risk of a negligence claim arising from poor […]

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18 December 2017

Key Risk Checklist: Electronic property transactions – office management

Electronic property transactions – office management checklist Office policy content Below is a list of issues to consider when writing your office policy and recommended responses. ☐  Who will hold a digital signature? The digital signature is embedded in a USB. Preferably only partners have digital signatures. ☐  How a digital signature’s USB and pin […]

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18 December 2017

Key Risk Checklist: Electronic property transactions

Electronic property transactions – matter checklist ☐  Is there an electronic transaction clause in the contract? ☐  Discussed with the client whether the conveyance can be done electronically or on paper. – Land Use Victoria has announced that all transaction will be electronic by August 2019. ☐  Client told consequences of conducting electronically. Any paper […]

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17 September 2018

Small business big risk

  Table of contentsIntroductionThe challengesThe most common mistakesPersonal Property SecurityLPLC Small Business ChecklistAppendix OneAppendix Two Introduction Since LPLC published the first edition of Small business – big risk there have been some changes in the legal landscape which are particularly relevant to transactions for the sale of small businesses including the introduction of: the Estate Agents (General, […]

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6 August 2018

Pitfalls in personal injury litigation

Table of contentsPersonal injury litigationThe causesThe best risk management – an informed clientCommon mistakesWorkplace injuriesPublic liability and medical negligenceTransport accident claimsEmerging area of riskLPLC Personal Injury Litigation ChecklistAppendix 1 Personal injury litigation Clients seek out litigation lawyers only when something has gone wrong. In the personal injury arena, they have the added difficulty of dealing […]

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24 July 2018

Keep managing mortgage risk

Table of contentsAdditional mortgage downloadsIntroductionAmadio claimsImprovident transactionsMortgage fraudNo or inadequate securityAdvice on equity release productsLPLC Checklist: Advice on equity release productsTaking instructionsThe effect of the transactionIssues of duressLPLC Amadio ChecklistAppendix OneAppendix TwoAppendix ThreeAppendix FourAppendix FiveAppendix Six Additional mortgage downloads Solicitor’s Certificate – Direct Borrower Solicitor’s Certificate – Third Party, Guarantor etc Translator’s Certificate Client acknowledgement […]

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24 April 2018

Avoiding superannuation claims

Table of contentsIntroductionCommon themesSuperannuation related claims from 1 July 2015 to 30 June 2017Areas of lawSuperannuation checklistAppendix one Introduction Every year LPLC sees claims involving superannuation funds. Claims sometimes arise because the practitioner does not have sufficient knowledge or experience with superannuation matters. Practitioners who regularly act in this area will agree that extensive expertise […]

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24 January 2018

A guide for executors

Table of contents18 frequently asked questions about being an executor.1 Who is an executor?2 What is ‘an estate’?3 Who is a beneficiary?4 What is the role of an executor?5 Must an executor take on the responsibility?6 Who arranges the funeral?7 What happens to the bodily remains?8 Should there be a reading of the will?9 What […]

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7 September 2018

Risk video bite – defective section 32 statements

Presenter: Phillip Nolan, LPLC Risk Manager

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6 July 2018

Risk video bite – Conflicts

Presenter: Matthew Rose, Risk Manager, LPLC

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1 June 2018

Risk video bite – Personal cost orders

Presenter: Matthew Rose, Risk Manager, LPLC

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4 May 2018

Risk video bite – Family law financial agreements

Presenter: Alex Macmillan, Claims Manager, LPLC

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6 April 2018

Risk video bite – Drafting

Presenter: Matthew Rose, Risk Manager, LPLC

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25 September 2018

PEXA, email, electronic funds transfers and cyber-crime

Download PDF Table of contentsPEXA, email, electronic funds transfers and cyber-crimeThe risk of EFT-fraud for lawyers is human error, not ITVerify all email instructions for the transfer of fundsAlways double-check bank account details before sign-offPEXA residential seller’s guaranteeWhat the PEXA residential seller guarantee coversThree-day time limit for seller to apply for guaranteeWhat to do if […]

More
4 September 2018

Retrospective changes proposed for residential ‘off the plan’ sunset clauses

Download PDF Table of contentsRetrospective changes proposed for residential ‘off the plan’ sunset clausesSunset clauses – details of the proposed amendmentsRetrospectivity trap for practitionersWhat you should do nowOther legislative changes proposed in the bill Retrospective changes proposed for residential ‘off the plan’ sunset clauses The Sale of Land Act Amendment Bill 2018 (Vic) (the bill) […]

More
15 August 2018

Vendor/supplier GST withholding notice

There is no prescribed form for section 14-255 supplier GST withholding notice. Below is a suggested form of notice practitioners are welcome to use or adapt.Page two of the notice contains some notes for its use.   Vendor_supplier GST withholding notice(PDF Version) | Vendor_supplier GST withholding notice(Word Version)    

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14 August 2018

Medical Treatment Planning and Decisions Act 2016 (Vic)

Download PDF Key points   Appointments of medical treatment decision makers and advanced care directives replace medical powers of attorney and refusal of medical treatment certificates from 1 July 2018. Medical power of attorneys entered into before 1 July 2018 are taken to be appointments of medical decision makers. Any refusal of treatment certificates created […]

More
7 August 2018

Some purchasers required to withhold GST from 1 July 2018

Download PDF Suggested resources: Vendor/supplier GST withholding notice Key points New GST withholding regime applying to some settlements from 1 July 2018. New notification obligations on vendors of new residential or potential residential land. New notification and withholding obligations on purchasers of new residential or potential residential land. Penalties apply for both vendor and purchaser […]

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