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For many business owners, their business is their most valuable asset. Yet succession planning is often delayed until retirement is approaching or unexpected circumstances force important decisions. Planning your business succession early gives you greater control over the future of your business, helps protect its value, and ensures a smoother transition when the time comes. Read more
A self-managed super fund (SMSF) gives members control over their retirement savings, but many trustees overlook what happens if a member loses mental capacity due to illness, injury or dementia. Because SMSF members are generally required to also act as trustees (or directors of the corporate trustee), incapacity can create serious legal and compliance issues if proper planning is not in place. Read more
Many people now use AI chatbots to answer legal questions. It is quick, easy and often free. But there is a serious risk. A recent United States court case, United States v Heppner, shows that what you tell an AI chatbot may not be private. Read more
When entering into a leasing arrangement in New South Wales, it’s essential for both landlords and tenants to understand whether the agreement is classified as a retail lease or a commercial lease. While both involve the occupation of premises for business purposes, they are governed by different legal frameworks and carry distinct rights and obligations. Read more