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

12 December 2017

In Check Issue 77 | December 2017

Thorne v Kennedy on financial agreements The recent High Court case of Thorne v Kennedy [2017] HCA 49 further illustrates why family law financial agreements are fraught with risk. In that case, Kiefel CJ, Bell, Gageler, Keane and Edelman JJ held two substantially identical financial agreements voidable due to undue influence and unconscionable conduct. Nettle […]

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1 December 2017

Why apologise

When preparing a response to a complaint consider whether an apology should form part of the response. If you make a mistake in a civilised society it is expected that you will apologise to the wronged person. This protocol often falls down when insurance is involved because many people equate an apology and an admission […]

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1 November 2017

Minimise your risk

Risk is a part of every legal practice.  Practitioners should be aware of the common underlying causes of negligence claims against law firms, as well as the practice management steps that can reduce risk. Every job is an opportunity to earn fees, do fulfilling work and enhance your reputation, but every engagement carries risk. You […]

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1 October 2017

Audits add value

File audits are an important tool for all legal practices. File reviews are an effective way of checking your firm’s susceptibility to claims as well as being good file management practice. No matter the size of the practice, monitoring files for compliance with the firm’s standards and for identifying risk areas that need attention are […]

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27 September 2017

In Check Issue 76 | September 2017

Table of contentsJustin Toohey – new LPLC CEOPEXA newsChanges to the Administration and Probate Act 1958 (Vic)Powers of attorney amendmentsEnergy efficiency disclosure threshold changesLPLC goes socialRisk Management SeminarsWhat’s new on LPLC websiteChanging your email address? Justin Toohey – new LPLC CEO LPLC is pleased to announce that Justin Toohey has been appointed as Chief Executive […]

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29 June 2017

Cyber security breach – claims caused by fake client email

It is no longer safe practice to transfer money to a client’s account based only on email instructions from your client. Always verify email instructions from a client, especially if it involves handling money, by confirming the details orally with the client. LPLC has received four notifications in the last two years, one only last […]

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6 November 2016

CGT withholding payments – practical examples

Updated July 2017 Table of contentsIntroductionTaxable Australian real property acquired directly from registered proprietor(s)LeasesIndirect Australian real property interestsOther issuesDeceased estates and trustsGSTFurther information on the ATO website Introduction This bulletin contains practical examples of how the withholding requirements, which commenced 1 July 2016 and were amended with effect from 1 July 2017, work. For more […]

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19 October 2016

Cyber security cautionary tale

Table of contentsIntroductionThe realistic emailHijacking his emailLessons Introduction Cyber security needs to be at the forefront of everyone’s mind, whether you are in a small firm or a large firm. The recent experience of a Victorian law firm is a good example of how easy it is to be caught out. The realistic email A […]

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6 July 2016

Amended CGT withholding payments for options, company title interests and indirect Australian real property transactions

Updated July 2017 Table of contentsIntroductionOptions and rights to acquireCompany title interestsIndirect Australian real property interestNon-portfolio interest testPrincipal asset testResidency declarationsMembership interest declarations Introduction This bulletin contains information on the withholding requirements which commenced on 1 July 2016 as amended in June 2017 by the Treasury Laws Amendment (Foreign Resident Capital Gains Withholding Payments) Act […]

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2 June 2016

1 July 2017 amended CGT withholding payments for real property sales

Updated July 2017 Table of contentsKey pointsIntroductionBackgroundKey obligationsExceptionsAssets which are caughtMarket valueWhat to do when acting for a vendorWhat to do when acting for a purchaserATO forms and information Key points Amended withholding requirements for contracts of sale of real estate worth $750,000 or more from 1 July 2017. All purchasers of such real estate […]

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15 December 2017

Clearance certificate questions keep coming

LPLC receives enquiries most weeks about the Federal Government foreign residents withholding regime with many practitioners being referred to the following three LPLC bulletins for the answers to their questions. 1 July 2017 amended CGT withholding payments for real property sales Amended CGT withholding payments for options, company title interests and indirect Australian real property […]

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8 December 2017

Updated conveyancing practice risk guide

In 2016/17 LPLC received 127 conveyancing claims and notifications which represented approximately 30 per cent of all claims and notifications received that year. The cost of these claims is currently estimated to be in excess of $10 million. This represents an increase in both the number and cost of claims compared to 2015/16. Given conveyancing […]

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24 November 2017

Electronic caveats only from 1 December

All stand-alone caveats and withdrawal of caveats signed after 1 December 2017 must be lodged electronically using PEXA. This applies to all lawyers and conveyancers. Land Use Victoria has covered these requirements in a number of Customer Information Bulletins. If you are not registered for PEXA what will you do after 1 December? Do you […]

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10 November 2017

Stop and think about loan agreements

When a client insists on entering into a risky loan agreement, it is essential to step back and think about whether the client has made an informed choice and you have documented their instructions and your advice. In one claim, the practitioner acted for a lender regarding a loan to a property developer. The practitioner […]

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27 October 2017

Managing risks in the wills and estates area

LPLC has published Wills and estates, the latest in our series of snapshots which are designed to provide data about claims against practitioners in specific practice areas as well as risk management strategies at a glance. This snapshot shows that between 2007 and 2017, claims in the wills and estates area accounted for eight per […]

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20 November 2017

Key Risk Checklist: File transfer from another firm

  Client intake Comment or detail Complete the client intake checklist to establish if you should act for this client in this matter at this time (click here). Immediate file review  Comment or detail Conduct an immediate file review to determine: critical dates and relevant time limits outstanding issues next steps. Internal procedure  Comment or […]

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16 August 2017

Key Risk Checklist – Conveyancing resources

    LPLC Resources Comments Checklists: Sale of land – questions for the vendor Purchase of land – questions for the purchaser Property websites and comments Tax issues GST LPLC Face to face verification of identity checklist LPLC has posted numerous blogs about property law issues. You can find our blogs here. You can search […]

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8 August 2017

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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15 June 2017

Key Risk Checklist: File transfer to another practitioner within the firm

    File transferred to another practitioner within the firm Yes No Comment or detail Has the client requested the change of practitioner? □ □ Has the practitioner receiving the file confirmed they have the knowledge and capacity to do the work? □ □ Has the transferring practitioner completed a detailed memorandum that: details the […]

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15 June 2017

Key Risk Checklist: File closing

  Work completed Yes No Comment or detail Have we written to the client confirming: all required work has been completed? □ □ any outstanding issues that are the client’s responsibility? □ □ any critical dates and consequences? □ □ future actions (such as exercise of an option) that is the client’s responsibility? □ □ […]

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6 November 2017

Looking after leases

Table of contentsIntroductionThe best risk managementThe problem areasPPS ActRetail leases and essential safety measuresLPLC Tenant’s Practitioner ChecklistLPLC Landlord’s Practitioner ChecklistAppendix OneAppendix Two Introduction Looking after leases contains details of claims, relevant cases and legislation affecting retail leases. It is designed to raise your awareness of common problems in commercial and retail lease transactions, and help you […]

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26 September 2017

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, Accounts […]

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25 September 2017

Claim free conveyancing

Additional conveyancing download: Default notice Table of contentsIntroductionThe causesThe most common mistakesLPLC Vendor’s Practitioner ChecklistLPLC Purchaser’s Practitioner ChecklistAppendix One: Suggested form of letter to client if requested to prepare a section 32 statement in a hurryAppendix Two: Owner builder obligationsAppendix Three: Rescission NoticeAppendix Four: Owners corporation certificate issues Introduction Claim free conveyancing has been produced […]

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15 August 2017

Focusing on family law

Table of contentsIntroductionThe causes of claimsFinancial agreementsChild supportProblem areasLPLC Family Law ChecklistAppendix One – SuperannuationAppendix Two – List of cases Introduction As family law clients are often preoccupied and in emotional distress, they require particular care. It is an area where simple risk management steps can make a difference. The scope of the retainer needs […]

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11 May 2017

Know your limits

Table of contentsIntroductionLessons from the claimsTime limits most commonly missedClaims examples Introduction With the proliferation of time limits in legislation today missing limitation dates is a mistake that occurs in many areas of the law. The reasons for missing time limits are varied as are the potential repercussions. Sometimes it is a lack of knowledge […]

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1 December 2017

Risk video bite – Supervision

Presenter: Alex Macmillan, Risk Manager, LPLC

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3 November 2017

Risk video bite – Delegation

Presenter: Alex Macmillan, Claims Manager, LPLC

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6 October 2017

Risk video bite – Cyber security

Presenter: Matthew Rose, Risk Manager, LPLC

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28 July 2015

Risk video bite – Engagement letters – what you will do and what you won’t

Presenter: Miranda Milne, Chief  Executive Officer, LPLC

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17 June 2015

Risk video bite | Useable trail – fail to record advice at your own peril

Presenter: Heather Hibberd, Chief Risk Manager, LPLC

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22 August 2017

Snapshot – Wills and estates

Snapshots provide data and main causes of claims in areas of practice as well as risk management strategies at a glance. Click the image to enlarge or download above.                            

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14 August 2017

Snapshot – Personal injury litigation

Snapshots provide data and main causes of claims in areas of practice as well as risk management strategies at a glance. Click the image to enlarge or download above.                            

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20 July 2017

Working together – roles and obligations

What we will do when we act for you Be courteous and polite at all times. Act in your best interests only. Keep your information confidential unless you give us permission to disclose it or we are required by law to disclose it. To enables us to handle your matter as quickly and economically as […]

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