A farm trust is a discretionary trust that is used to own land for primary production while also providing flexibility so the property can eventually be transferred to other family members. Asset protection, tax efficiencies, and ‘controlled succession planning’ are the key benefits of a farm trust.
Separation is never easy, but it can be even more difficult for business owners. This is because business owners have the added uncertainty of having their jobs (and often livelihoods) tied up in a business that is considered an asset of the relationship. For many business owners, the most daunting aspect of their separation is the possibility of losing their business.
So, you’re running a business and need to develop a system to identify trends in customer activity on your website. You’re about to hire a software engineer to lay some code, and the question of who will own the IP comes up in your negotiations over the Software Development Agreement…
So you own a business and are embarking on divorce! Not a great combination… Find out what issues you are likely to face, and how you can develop an effective strategy to keep it all together.
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.
People are more aware – and wary – than ever of family law issues in relation to their assets. More and more couples seek binding financial agreements to protect their assets, or put off living together or marrying to minimise their financial exposure.
You’ve decided that a Financial Agreement is right for you. So what happens next?