A Guide for Clients: Anti-Money Laundering and Counter-Terrorism Financing Laws

Why we need to collect your information

New anti-money laundering and counter-terrorism financing laws (AML/CTF) have been introduced to help detect and disrupt money laundering and the funding of terrorism. These laws require lawyers in many transactions to:

establish and verify identity of clients and some other parties
assess and respond to risk of prohibited activity under AML/CTF laws
meet reporting and record keeping obligations.

All lawyers in Australia who provide services regulated under AML/CTF laws are subject to these obligations.

Payne Butler Lang also needs to collect personal information (including sensitive personal information) in order to supply legal services to you, comply with our other regulatory obligations and ensure that appropriate good practice is followed.

What we will need to know from you

We will need to ask you to:

verify your identity (full names, date of birth, address, identification documents, other details as may be required)
tell us whether you are a politically exposed person (PEP), or a family member or close associate of a PEP. A PEP includes someone who holds a prominent public position in Australia or elsewhere such as a senior role in government, trade unions, state owned enterprises or professional bodies, the courts or the military
provide information about any company, trust or other entity involved in the matter, including its beneficial owners and controllers.

We may also need to:

ask you to provide us with information about your source of funds and source of wealth
ask for update information during the course of your matter.

We will give you full details of the information you need to provide us during our onboarding process.

How will we collect your information?

We will generally collect your information directly from you or the transaction documents supplied to us. We may also collect information from other sources such as:

search agencies and databases
company, land or similar registers
brokers and real estate agents
internet searches.

What happens to the information that you provide?

We will collect, use and store this information collected for or in connection with AML/CTF enquiries in accordance with applicable AML/CTF laws and the Privacy Act 1988 (Cth). Where information is collected for another purpose, it may not be Privacy Act regulated but will be dealt with in accordance with our professional confidentiality obligations and other applicable laws.

We will share this information:

as appropriate, with other transaction parties to perform legal services for you
to conduct verification checks of the information we are provided
with joint clients if we are providing services to more than one person in this matter
if required or permitted by law, including the AML/CTF laws, the Australian Solicitors Conduct Rules or other statutory (government) notices such as taxation authorities
in rare cases we may be prohibited from disclosing to you that your information has been shared with a law enforcement body such as AUSTRAC or the ACCC
if a party to this transaction is overseas, we may share your information with them for the purposes stated above.

Record retention.

We (or third parties contracted to us) may be required to keep records obtained for AML/CTF compliance purposes for a number of years, as required by law.

Would I need to provide additional information?

In some matters, we may need to ask for further or updated information so that we can meet our ongoing AML/CTF obligations.

We will inform you if and when we would require further information.

Do I need to pay?

You may be charged for identification checks, searches or other verification steps required for AML/CTF compliance. For example, a fee may be payable for:

identity verification carried out by a third-party provider
company or other registry searches
professional work done interpreting results.

What happens if I cannot provide the information?

If we do not receive, or cannot verify, information we are required to obtain for AML/CTF compliance, we may be unable to act for you or continue acting for you.

Would you like more information?

Please contact our office if you have any questions about the information we need from you or why we need it. Please refer to our firm’s Privacy Policy available from our office upon request.

You can find more information on the AUSTRAC website: https://www.austrac.gov.au/general-public

Disclaimer: The information in this document is intended to be a general guide only. The information is not intended to constitute professional or legal advice, and you should rely on your own inquiries and assessment. Queensland Law Society expressly disclaims any and all liability for any loss or damage arising from reliance upon any information in this document.

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Providing financial assistance to adult children

February 19, 2026

Many older people help their adult children financially, either with a loan, a gift or a conditional arrangement. If your adult child’s marriage or relationship breaks down, a property settlement may arise, and your financial assistance needs to be considered in the settlement. Suddenly, parents are left asking: “will I get my money back? ” or “ do I get a say in what happens next? ”. Understanding how parental contributions are treated in property settlements is critical to protecting your position and avoiding costly and unexpected outcomes. When relationships break down, money provided by parents often becomes a point of dispute, and assumptions made years earlier can be challenged. To properly understand your legal position, it must be clear what your intention was when you provided money or support, and what both parties understood and agreed at the time. Without that clarity, funds that were intended to be repaid or protected may be treated as a gift and absorbed into the property pool. Good records matter Many parents later say, “ We didn’t write anything down — we trusted them. ” Unfortunately, in a property settlement, trust is not evidence. Clear records can significantly reduce the risk of dispute and strengthen your position if your contribution is questioned. Relevant documents may include bank statements, receipts for renovations or household expenses, emails or text messages, notes made after discussions, and any written agreement — even an informal one. Small pieces of written information, taken together, can be critical in establishing whether money was intended as a loan, a gift, or a conditional contribution, and in avoiding expensive and emotionally draining litigation. If family law proceedings have started Once family law proceedings are underway, a property settlement can be finalised without regard to your contribution unless the Court is formally notified. If this occurs, you may lose the opportunity to recover the funds you provided or to have your interests properly considered. A lawyer can assist you to notify the Court of your involvement, seek to be included in the proceedings where appropriate, and take steps to protect your position before binding decisions are made. Early advice is critical. Best practice Providing financial assistance without documenting the arrangement carries significant risk. If a relationship breaks down, informal loans or gifts are often disputed and may be treated as contributions to the couple’s asset pool, rather than money repayable to you. Having a clear, written agreement in place from the outset significantly reduces the risk of uncertainty, conflict, and financial loss. It allows expectations to be managed early and provides a clear framework for what is to occur if circumstances change. Our experienced lawyers can help you put appropriate agreements in place to protect your financial position and minimise the risk of costly disputes, while also helping to preserve family relationships where possible.

WHAT TYPE OF WILL DO YOU NEED – SIMPLE OR COMPLEX?

February 10, 2026

When it comes to estate planning, it’s essential to understand the different options available to ensure your assets are distributed according to your wishes. Simple Will The simple Will offers a straightforward distribution of assets to beneficiaries. It is the most common type of Will and does the following:- Appoints an executor to manage your estate and distribute assets; Outlines how your assets should be distributed on your death, often making ‘simple gifts’ of your estate assets to your beneficiaries, which they take in their personal names. These types of Wills are generally easy to implement and are generally suitable for non-complex estate planning circumstances. They offer minimal to no tax effectiveness or asset protection for your beneficiaries. Simple Wills are typically more cost-effective and make for a timely administration of an estate. They are ordinarily sufficient in the case of smaller estates, where there are no concerns about asset protection or tax planning and the beneficiaries are financially responsible. Testamentary Discretionary Trust Will A Testamentary Discretionary Trust (TDT) Will is a Will that sets up a discretionary trust inside the Will for your beneficiaries. It does not take effect until the Willmaker passes away. If one or more of your beneficiaries: are in an occupation which could carry a risk of litigation; are at risk of a marital or relationship breakdown; have special need or disabilities; or have a history of poor financial management; a TDT Will protects and manages the assets for them by appointing trustees to make appropriation decisions about the use of funds in the trust. When deciding between a simple Will and a TDT Will, consider your goals for asset distribution and the level of control you want over how and when beneficiaries receive their inheritance. At Payne Butler Lang, we can assist you with simple Wills and we can do more complex testamentary discretionary trust Wills. Importantly, we will also help you work out which one is most suited for your circumstances.