In this article, we will discuss some of the critical clauses that are often missing from basic employment documents. We will cover what each critical clause does and why it is important, and the potential consequences of not including the clause in your employment documents.
In Australia, there are 3 main types of employment contracts: permanent (full-time or part-time), casual, and fixed term (whether full-time or part-time). This article focuses on fixed term contracts.
You’ve decided that a Financial Agreement is right for you. So what happens next?
The short answer is that it depends on whether the trustee first falls within the class of potential beneficiaries, and then whether the trustee is specifically excluded from benefiting.
When you give an outright gift to someone under your Will, the beneficiary receives the gift from your executor, with no strings attached. The beneficiary can do what they like with it. If you impose any rules on the gift, then you have effectively created a ‘testamentary trust’, and things get a little more complicated.
Dealing with employees and their entitlements as part of a business sale or acquisition is not straight-forward. There are plenty of traps and tricks for the uninitiated. Find out what you need to know.