Most people recognise the importance of having a Will to determine how their estate is distributed when they pass. If you are self-employed, a partner or co-director, having a ‘Will’ or succession plan for your business is equally important. Think about what may happen to your business when a key partner dies or is incapacitated…. Read More
Most people know that a valid Will determines how their assets are dealt with after they die. Wills generally provide for the appointment of a trusted executor/s and the leaving of gifts to chosen beneficiaries. They may also appoint guardians for minor children and give direction for specific funeral and burial arrangements. When to review… Read More
Starting a business requires careful planning and consideration. A failure to allow for unforeseen events or for ways to resolve future disagreements could put your new venture at considerable risk. The repercussions of failing to plan are clearly illustrated in a case in the Federal Court between co-owners of the popular Grill’d fast food empire…. Read More
Losing a trust deed is not something anyone plans to do. Not only is a lost trust deed inconvenient it can also have serious consequences. Even if the trust is able to continue operating, without having the trust deed to reference it may be very difficult, if not impossible, for trustees to be certain that… Read More
There are 4 main types of business structures for doing business in Australia, each with their own advantages and disadvantages. A person can carry on business as a sole trader, partnership, trust and company. The choice of business structure is an important decision to make at the start of a business venture, as the structure… Read More