November 6, 2019 In Bramwell Bate News By Bate Hallett

Types of trusts and their benefits

There are many types of trusts that can be tailored to achieve a specific purpose. The general purpose of a trust is to protect your assets and provide for desired succession planning for future generations. A trust is created by a trust deed whereby a person (the settlor) transfers property to the trustees of the trust. The trustees control the property in accordance with the trust deed for the benefit of the beneficiaries (which can include the settlor). This article focuses...

Bramwell Bate News
August 9, 2019 In Bramwell Bate News By Bate Hallett

Snippets

How many directors need to sign? Signing documents that bind a company to obligations and potential liability is a key aspect of being a director of a company. It is part of the role when a director is guiding and running the company. While shareholders are required to ratify major transactions and key decisions, day to day, the directors are in control. They can delegate duties to CEOs and managers but ultimately have responsibility for directing and overseeing what the company employees...

August 9, 2019 In Bramwell Bate News By Bate Hallett

Sole Trader and Limited Liability Company-liability compared

A sole trader is a common ownership structure that can be used to operate a small business. The main operator of the business may be one person, supported by a family member such as a spouse. Operating a business may be risky if the right asset protection and insurance is not in place to support the sole operator. The extent of their liability is that they are personally liable for any business debt or loss, including taxes. For debt owing to...