Estate planning for sole directors of private companies

Estate planning for sole directors of private companies

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.

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Are there ever ‘good’ reasons to hide assets?

Are there ever ‘good’ reasons to hide assets?

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...

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Nick Stevens

Nick Stevens

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,...

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What do I need to do to ensure my Private Ancillary Fund remains compliant?

What do I need to do to ensure my Private Ancillary Fund remains compliant?

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.

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Our Menu of Services

We are a full-service commercial law firm with offices in Sydney, Adelaide and Melbourne. We can assist you with: Business and Investment Structures Setting up business structures, including Partnerships, Companies and Trusts Setting up investment structures,...

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Director Identification Numbers

Director Identification Numbers

In June 2020, legislation was passed to enable the rollout of Director Identification Numbers (DINs) for company directors. The Australian Business Registry Services (ABRS) is ready to start registering directors from November 2021.

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