Running a trust is all about good governance. Your trustees should get together annually to discuss the trust assets and make decisions on how to manage the trust for the year ahead. Once you’ve made your decisions, you need to record them in as a set of trustee resolutions. This interview will help you generate your resolutions by providing useful discussion points for your trustees.
As a director of a company, your company cannot enter into a major transaction without a resolution from the shareholders to approve it. A major transaction is any of the following three: 1) acquiring assets which are valued at more than half the value of the company’s current assets; or 2) getting rid of more than half of the value of the company’s assets; or 3) acquiring rights, interests, obligations, or liabilities valued at more than half the value of the company’s current assets.
One of the biggest frustrations in doing business is not getting paid what you’re owed. A statutory demand is a legal document demanding payment from a company who owes you money over $1,000. If the company then fails to pay you within 15 working days of the date of demand, you can apply to the court to place the company into liquidation.
Like it or not, you’re not going to live forever. When you go, your loved ones will be dealing with a loss. By making a Will, your parting gift is the assurance that they will be cared for according to your wishes. This legal record explains how your estate, which consists of everything you own, will be distributed after you pass away.