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.
There are several ways a doctor can join your medical practice. As the owner of the practice, it is important for you to understand the key differences between each arrangement, and ensure you have the right agreements in place. Independent Practitioner (or...
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.
A farm trust is a discretionary trust that is used to own land for primary production while also providing flexibility so the property can eventually be transferred to other family members. Asset protection, tax efficiencies, and ‘controlled succession planning’ are the key benefits of a farm trust.
I engaged ADLV Law to represent me in a complex deceased estate dispute in NSW that involved valuable farming land and assets and they were able to successfully negotiate a settlement on my behalf. Thanks again to the ADLV Law team for their work. I believe in the...
If you are the sole shareholder and director of a private company, have you thought about what will happen to your business if you lose capacity or die? Failure to plan for this eventuality can affect the financial viability of your assets and leave your family vulnerable – so it is something you need to turn your mind to. Fortunately, there are several solutions that are easy to implement and lots of advice about these issues is available.
Have you lost your trust deed? In this article we explain what you can do about it.
Why would someone want to hide their assets? If you are an oligarch, the answer is obvious – you don’t want a hostile foreign government freezing your bank account or seizing your super yacht or villa on Lake Como. If you are an ordinary person, you may merely want...
Natalie Massenet: I would definitely say get a lawyer. That’s the one thing. A lot would be different just with that one act.
Wouldn’t it be nice to have someone on your speed dial that can quickly tell you if you really have something to worry about or not? For most people daily life can throw up legal questions but if you are in business or involved with a business as an employer,...
Have you set up a Private Ancillary Fund (PAF) lately? Or are you thinking of setting up a PAF for charitable purposes, potentially endorsing it as a Deductible Gift Recipient? We know you did this (or want to do this) to jump start private philanthropic charitable donations. But now comes the tricky part: the rules, regulations, and ongoing obligations surrounding your PAF’s operation.
Beware the bankrupt beneficiary
The protest rallies around every major city in the last two years suggests many people are struggling financially, so what can you do if you have a bankrupt beneficiary?
As the ‘interesting times’ continue into 2022, what are some of the legal challenges you may be facing this year? Estate Planning always tops the list. Making sure you have in place up to date documents that appoint guardians for your minor children and ensure the...
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