Redundancies come with a unique set of rules that must be followed carefully. Failing to do so puts employers at risk of facing an unfair dismissal claim from their employees. Get informed and protect your business by following these steps.
Generally speaking, the contents of a Will are private and are not able to be disclosed without the testator’s authority until after they have died. However, there are some circumstances where you might be able to get a copy of Will without waiting for it to be admitted to probate.
As the founder of an enterprise you must ensure that the legal entity you set up to exploit your business concept owns all of the IP associated with the concept. This includes the IP that is created directly on behalf of the company, but also any IP created by parties outside the company or in the time period before the company was formed.
You must understand the full implications of the share structure you adopt in your companies. How you set your companies up will have a material impact on the commercial control, commercial return, tax, asset protection and estate planning outcomes you achieve.
When it comes time to make an Estate Plan, most people have at least some idea who they want to give their wealth to. In many cases, they first want to give it to their partner, and then after their partner dies, they want to share it equally among their children. This is what we call the ‘standard’ or default choice.
For families with considerable wealth, there is one more ‘layer’ of planning you must consider. This is the scenario if one of your children dies, either before or after inheriting.
Once again, there tends to be a default in this scenario, that is, the children of your child (i.e. your grandchildren) will take their parent’s share. In this manner, the wealth passes down your ‘family’s bloodline‘.
This sounds simple and appropriate, but it does raise several critically important issues – that justify more thought.
Natalie Massenet: I would definitely say get a lawyer. That’s the one thing. A lot would be different just with that one act.
