Landlords and Business Owners - did you know that radical new laws were introduced this year that put your assets at risk? Since the introduction of the Personal Property Security Register if you do not register your ownership of an asset and it is not in...
In the event that a director or key person was to suffer an unexpected departure from the business due to death or disability, there are several important factors that every business needs to consider.
For the purpose of this article we will assume ABC Pty Ltd has 3 directors, Allan, Bart,and Cindy, and director Allan has recently passed away unexpectedly.
We are fielding an increasing number of calls from business people who are anxious to know what they can do to ensure, that their assets and in particular their homes, are protected from creditors. There are simple steps that can be taken that greatly improve your chances of avoiding the loss of your home. In recent times this has become more difficult, but it remains possible. The aim of asset protection strategies is to remove creditor access to certain assets entirely. When this is not possible then the aim instead should be to put significant obstacles in the way of creditors. Although some determined creditor may still suspect a way to penetrate your defences the cost of the taking these steps and the risk of failure may prevent a creditor from even trying.