Succession planning for business owners
As a business owner, you deal with many responsibilities, including having to decide what to do with your business when you move on. Sometimes the logical endgame for a business is to be wound up, but in most cases, the aim is a smooth transition to new ownership....
The risks of being an executor – commissions and personal liability
Have you been appointed as an executor of a Will? Before administering the estate, you should understand that this role involves risks such as personal liability for the expenses of administering the estate. You also should be aware that you may be entitled to...
Subpoenas and family law court proceedings
Subpoenas play a very important role in discovering evidence and information in family law matters, especially when the other party is not complying with requests for information. There is a lot of work involved in applying for, filing, and serving a subpoena, which...
Spotting a Phoenix – understanding illegal phoenix activity
One of the attractions of incorporating a company for many people commencing a business is that it can limit the personal liability of its directors to creditors. That is, the company, which has its own legal identity, may owe money to others while the directors...
What’s the difference between Parenting Plans and Parenting Orders?
A parenting plan is an informal written parenting agreement that includes parenting and care arrangements for children but has not been formally approved by the Federal Circuit and Family Court of Australia (FCFC). Parenting orders (or consent orders) are written...
Essential considerations when starting a business
Starting a business can be exciting, but also overwhelming and challenging if you have not properly prepared for your new venture! This guide will take you through some essential considerations of starting a business. Business plan Business plans are vital if you want...
‘Click here’ – electronic execution of documents is here to stay
The COVID-19 pandemic not only brought with it changes to how we live our lives, but it also pushed and ultimately fast tracked the validity of some increasingly common business processes. One of those innovations related to the way in which documents may be executed...
When is a guarantee unenforceable?
A guarantee is a binding promise from one person (the guarantor), to be answerable for the debt or obligations of another (the debtor or borrower), if that other person defaults. Guarantees become enforceable against the guarantor by the person to whom the guarantee...
The duty of disclosure and family law property proceedings
The division of assets after a couple has separated can be finalised by way of financial agreement, consent orders or proceedings in the Federal Circuit and Family Court of Australia. The Family Law Act 1975 (Cth) requires parties to make genuine efforts to resolve...
FAQ on Estate Planning
While many people are unlikely to nominate estate planning aka “Thinking about what will happen to my assets when I die” as being on their “most wanted things to do” list, in reality, this is something that should be on all of our “must do” lists. Proactively planning...