Lexon Insurance

Lexon Risk Alert 11 September 2026: CGT Withholding Regime – “Taxable Australia Real Property” definition to be expanded and new notice requirements; Leasing Risk Procedure Packs Updated – Fraudulent Bank Guarantees, Federal Budget, ACCC and unfair contracts regime updates; Updates to the Family Law Packs including financial arrangements with other family members, and other succession planning issues; Updated tools and resources for Succession – NSW Wills, Plaintiff Personal Injuries, Subscriber Agents - eConveyancing and ‘Have you lost your client’.

If your practice is insured with Lexon and you are not currently receiving these risk alerts, email [email protected] to subscribe.

Lexon Risk Alert 24 July 2026 – Cyber Risks: Do old accounts still have system access? Recent cyber criminal access through former staff accounts; Cyber criminals are weaponising AI – more realistic phishing and faster exploitation of system weaknesses; Lexon announces soon to be released updated Cyber + AI Risk Workshop – register your interest today; Simple steps to help protect against multi-factor authentication token theft via fake login pages.

If your practice is insured with Lexon and you are not currently receiving these risk alerts, email [email protected] to subscribe.

Have you checked that you have updated your processes when publishing a notice of intention to distribute? Following the repeal of the Trusts Act 1973 (Qld), s135 Trusts Act 2025 (Qld) requires a notice of intention to apply for a grant (application for Probate) be published in the way as required by the Uniform Civil Procedure Rules 1999 (Qld), with a closing day that is at least 2 months after the day the notice is published.

Alternatively, if the notice is not included in a notice of intention to apply for a grant (application for letters of administration) it must be published in a newspaper circulating throughout the State and sold at least once each week or on a website approved for the purpose. By Queensland Supreme Court, Practice Direction Number 1 of 2026, the Chief Justice gave notice that the Public Notices section of the Queensland Reports website is an approved website for the purpose of publishing a notice of intention to distribute.

Failure to follow the process under s135 of the new Act may result in the Trustee losing the protections under s136 of the new Act.

Lexon’s Estate Administration Risk Procedure Pack was updated in March 2026 to incorporate the updated requirements in the new Act. Ensure you are using the latest Estate Administration pack by downloading it here: https://bit.ly/4xXiMwl

Does your practice use a third-party software provider (such as a practice management system) to manage your dates and tasks? When was the last time you checked that it provided the expected reminders? Regularly undertake spot checks of expected bring-ups and due dates to make sure all task and date reminders are working as expected.

Also ensure everyone in the Practice completes the Lexon Online Training - Date Systems Review: https://shorturl.at/tFD90. This online training assists practices in checking their existing date systems and discuss scenarios that often lead to date-related claims.

Lexon risk alert 1 June 2026: Immediate considerations for Federal Budget announcement affecting various interest types; Updated AI Lastcheck to carefully consider AI use including risk identification and mitigation if using AI; Conveyancing Protocol Update - new AML/CTF prompts and ACCC Merger updates; Criminal Law Pack update including public register warning and the limited scope of character evidence for sexual offences; Updated LastCheck- File Transfer; AML - are you ready?; Elder Law Pack, General Litigation Pack and Business Pack updates.

If your practice is insured with Lexon and you are not currently receiving these risk alerts, email [email protected] to subscribe.

Is there a settlement, condition or deadline on your matter on 8 June 2026? As the Reserve Bank Information and Transfer System will be closed due to a public holiday being observed in most States, PEXA will not be available (incl. in Queensland) on this day.

Under s80 of the Property Law Act 2023 (Qld) , settlement will automatically be the next business day. This section applies to all contracts whether entered into before or after 1 August 2025. The parties are required under s80(5) to do everything required in the ELN to enable settlement to occur on the next business day.

The parties can contract out of s80 Property Law Act 2023 so the terms of the contract should be reviewed. If the operation of s80 has been excluded or varied by the terms of the contract then consider electing to revert to paper settlement, or other options if this public holiday affects your conveyance.

If retained pre contract, consider now if the proposed settlement date is affected by this public holiday. Consideration should also be given to the availability of any third parties, as well as the potential effect on the timing of bank transfers required for the conveyance, including deposit payments.

*Federal Budget Changes: Immediate Considerations*

Last week's Federal budget included proposed changes that may have a significant effect on various types of interests. In particular, the proposed changes to capital gains tax (CGT), company and trust taxation, and limitations on negative gearing may alter the financial assumptions underlying some interests.

The changes may affect, for example:

- existing finance approvals or pre‑approvals, including a lender’s willingness to advance funds
- proposed family law settlements
- succession planning arrangements
- transactions that rely on current taxation settings
- transactions involving the valuation of assets

Practitioners should consider whether these changes affect any existing clients or current matters.

Where relevant, practitioners should consider recommending that affected clients obtain updated financial and tax advice. This may assist in managing the practice's exposure in relation to that advice.

Lexon has seen claims arise where external events change a client’s position, and the client later alleges that their lawyer failed to prompt a review or recommend appropriate specialist advice. Loss may occur where a client proceeds without appreciating the effect of the change or does not act in sufficient time to manage its consequences.

Practitioners should consider now whether to proactively contact clients who may be affected by the proposed changes and recommend prompt engagement with their financial advisers, tax advisers and financiers.

Lexon has released a risk alert on 26 March: Farewell to David Durham after establishing an award-winning risk management program; Trusts Act 2025 (Qld) expected to commence 28 April – multiple packs updated; Conveyancing Protocol updates, including a NEW Off-the-Plan Buyer letter for when Notice of Settlement Date is received; Claim risks when acting for Buyers in a strong property market; Are you ready for AML?; Updates to Succession packs, Business packs and LastCheck - Capacity; and more. If your practice is insured with Lexon and you are not currently receiving these risk alerts, email [email protected] to subscribe.

If your practice or your clients might be affected by the extreme weather event, download Lexon's "Extreme Events – Law Practice Disruption Guide" available on our Other Resources page: https://tinyurl.com/2barnd8z

Contact Lexon to access our Help Now Program: free confidential matter triage service in emergency circumstances for insured practices: https://tinyurl.com/hty7ntrd

If you like: strategic thinking, solving challenges, managing workflow processes, fine detail and the idea of your work affecting the legal profession then this is the role for you:

https://www.seek.com.au/job/90082834