The Cost of Establishing a Substantial Small Business (buying one; or setting one up)
Whether you intend to buy a small business, or to set one up from scratch, there are many costs which are often overlooked by owners and which, if not incurred, could cause them to suffer financial pain later on. Not doing things properly and spending the required amounts, adds to the probability that your business […]
Read More FAMILY BUSINESS TRUSTS AND NOMINATING A CHILD AS BENEFICIARY OF A CERTAIN ASSET
There are many cases where small-to-medium-sized businesses are conducted via a discretionary trust set up by Mum and Dad. There is a family company trustee of the trust. The business assets of the Trust often represent distinct businesses in themselves, for example, retail stores or restaurants, or properties. Often times, as part of their succession […]
Read More Small Business – Good News When Contracting
As from 12 November 2016, in general terms, small businesses who enter contracts will find that they do not have to accept ‘take it or leave it’ standard-form contract conditions. The objective of the change in the Federal law will be to stamp out unfair and one-sided contracts for small businesses in commercial dealings. In […]
Read More Strata Lot Owners: Legalising Your Exclusive Use of Common (outside) areas
Watch more legal educational videos on jimwilson.tv. Often we see town houses and the like, which are part of a small, ground-level strata. As such, they are part of a registered strata which has common areas adjacent to the Lots. It is not uncommon for the Lot owners to agree between themselves that certain common […]
Read More
How do you know your Mum or Dad haven’t cut you out of their Will?
A recent case shows why and how you can be disinherited. The discretion exercised by Supreme Court judges in the recent case of Burke v Burke, has set a precedent that shows just how much power Testators (makers of wills) have to disinherit their children for being ungrateful or estranged. In Burke v Burke, the […]
Read More
Enduring Powers of Attorney – How to get it right and avoid the pitfalls
We recently advised an elderly client whose appointed Attorney had begun using their powers made under their Power of Attorney without proper consultation. This is because, some years ago, the Power of Attorney gave immediate power to the Attorney appointed to act on her behalf in relation to her financial affairs, despite the fact that she was still mentally […]
Read More
4 Essential Tips for Buying or Selling a Business in Leased Premises
If you are buying or selling a business that leases premises, the Lessor (Landlord) must approve the Purchaser before they agree to assign the lease over to them. The landlord’s mortgagee may also need to give approval. As well as, lessors of any key equipment being sold with the business. The Landlord (and other parties) also want to be reasonably satisfied the […]
Read More
What is Estate Planning?
Everyone has an estate which is represented by all you own, either now or at the date of your passing. Readers will often hear the words “Estate Planning” and wonder how they relate to their Will. A Will is just one part of a person’s effective Estate Plan. In addition to standard “giving” clauses, a […]
Read MoreTrademark Registration
Trademark Consultant: Brand Protection – Intellectual Property – Trademark Registration. A trademark can be a letter, number, word, phrase, logo, picture etc.aspect of packaging or any combination of these. It is used to distinguish goods and services of one trade from those of another. This means you can’t register a trade mark that directly describes […]
Read More