We have a lot of dentist clients who have downed tools during the Level 3 restrictions. One thing they have in common is that they’re making lemonade out of lemons and getting their practices ‘shipshape’ for when the restrictions are downgraded back to Level 1 or 2. If this sounds like you, read on!
Employers faced with the reality of reducing their workforce in an attempt to mitigate the adverse effects on their businesses want to know “What is the difference between a ‘stand down’, ‘termination’ and ‘redundancy’?” All is explained…
This is a big question. The answer is going to depend on a range of factors, but there are some general rules you can apply.
Deciding to get married is a big emotional decision. But it’s also a massive legal and financial decision. Asset ownership, asset protection, super, life insurance, decision making, estate planning and family financial support, all need to be carefully considered to provide a solid legal foundation for a successful life together.
So you want to help a family member under financial strain? What starts out with the best intentions can soon result is family disharmony. Confusion about whether the advance is a loan or gift can quickly result in argument. The tragedy is that this is so easy to avoid if you take some simple precautions from the outset.
If you are carrying on a business through a partnership, then we strongly suggest you consider moving to a company. Find out why will hold this opinion.
If you are incapacitated for a period of time, things won’t stand still and wait for you to recover. Someone still needs to manage your legal and financial affairs, and others will need to make personal and healthcare decisions for you. Do you have the necessary documents in place to make this happen, and avoid the need for your loved ones to apply to the Government for help? If not, read this.
Download our comprehensive guide to controlling your family trust.
In this article we cover the important questions you need to answer to put in place an effective Will, namely: why should you make a Will, who gets what, how do you fairly divide your assets if you are in a ‘blended family, and who you will need to involve in your estate plan? Time to act!
One of the reasons you accumulate assets and savings is to ensure your loved ones are adequately looked after when you die. Your accountant is likely to have put in place strategies to save you tax and protect your assets. But without proper planning, this can mean that your assets don’t end up in the hands of the people you intend. FInd out more.
After deciding that a company suits your requirements as the entity through which to operate your business, follow these steps to get your company up and running.
When people go into business together it’s common for them to enter into a Shareholders’ Agreements to govern how they will own and administer their company. Our preference is to use a tailored version of the company’s ‘Constitution’ as the primary instrument to regulate the affairs of a company. Our reasons are:
A common frustration experienced by primary producers is that they cannot use their super savings in their business. Not being able to access your retirement savings until you are 60 (generally) and retired, can feel like you are diverting capital away from where it is needed. One way around this issue is to own farmland in your Self-Managed Super Fund (SMSF).
You need an SMSF Deed that keeps pace with legislative and common law changes. A lot of the sophisticated strategies are only possible if your SMSF Deed is up-to-date and written carefully.
You’ll be put straight through to a great lawyer who will guide you to the right solution.