What to do if the Executor of a Will is no Longer Alive or Capable
Settling the estate of a deceased person is made so much easier when there is a legal Will, but there are unfortunately still problems that can throw a spanner in the works. One issue that can greatly complicate things is if the executor of the Will dies or is incapacitated. Not having an executor can […]
What Exactly do Executors of Wills do?
One of the biggest decisions when you prepare a Will is deciding who will be the executor. This role is a big responsibility, and the decision shouldn’t be taken lightly. To help you nominate the right person, here’s a rundown of what a Will executor’s tasks include. What do executors of Wills do? The executor […]
Why A DPN Can Put Your Personal Assets Under Threat
If you run a business of any size, it’s vital you understand what a director penalty notice (DPN) is and how to deal with one. Here is an explainer, as shared by a Legal Affairs Business Lawyer. What is a Director Penalty Notice (DPN)? A director penalty notice is issued by the Australian Taxation Office […]
How To Minimise Tax When You Sell Your Business
If you have worked hard on your business for many years, you are likely to have a plan to sell it at some stage. One question we are often asked about at LAL is how tax applies on the sale of a business. There isn’t a black and white answer, but this article will give […]
Solving Insolvency Without Liquidating
In these rapidly evolving times, demand from consumers is shifting, product availability has changed, and costs are becoming unmanageable for many businesses. If your company is experiencing financial trouble and you can’t see a simple way out, it may be time to explore insolvency. Many business owners assume that becoming insolvent means liquidating. When this […]
The Steps for Insolvency for Debtors
The term insolvency describes the situation where an individual or business cannot pay bills when they are due. Take a look at some of the options and steps involved with the insolvency process if you are a business. How do you know if you are insolvent? The signs you are insolvent are: If the number […]
Five Must-Knows About Trademarks and Business
You may have a unique business that stands out from the crowd but if you don’t take the steps to trademark you may end up with a situation where a competitor copies your logo, name or tagline. This will undo a lot of hard work and can even lead to expensive legal issues. Trademarking can […]
How to Dispute a Will – What You Need to Know
It is always a difficult time when a relative or loved one passes away but emotions can be heightened when there is a dispute over the Will. If someone close to you has died and you believe the Will to be unfair, there may be legal steps you can take to claim money or assets […]
Important Tax Debt Information for Business Owners
The last few years have been tricky for many businesses due to COVID and it’s understandable that many organisations have fallen behind on their tax payments. However, with the severe impacts of COVID diminishing, the Australian Tax Office is taking steps to start reducing the many billions (yes, billions) of dollars in tax debt. It […]
How to Get the Money your Business is Owed
With prices rising and many of the COVID safety nets being removed, some businesses are slipping into the red. If you’re a supplier, this may mean you have a number of overdue accounts. At some stage, you are going to need to chase the funds. There are a number of debt recovery options available to […]