Our lives are full of TLAs and our workplaces are littered with specialist TLAs. They are used in our everyday lives but they are also much loved in business. You might hear an accountant talk about WIP or EBIT, or a loan adviser talk about LVR or a financial advisor talk about internal ROR.
Not everyone knows what the words are, let alone what these terms refer to - and lawyers are just the same as everyone else. We have our own pet TLAs which we like to talk about, like:
- EPAs – Enduring powers of Attorney
- LOW – Letter of Wishes (for a trust)
- COA – contracting out agreement
- PRA – Property Relationships Act
These terms, while convenient for us to use can be as much a hindrance as a help, for our clients. So although we might use these TLAs as a sort of short hand (rather than having to repeat long names), it is still our job to properly explain what we are talking about. Just like the big push to remove Latin from our documents and remove all those silly long words (hereinbefore, whatsoever, abovementioned) the team at Godfreys Law is striving to keep our communications easy to read and easy to understand.
If you find we are needlessly using a TLA or some obscure phrase, please feel free to call us out.
