estate planning for company directors

Estate Planning for Company Directors

estate planning for company directors

When people make their Will, they typically concentrate on their personal assets, and they sometimes forget about their business assets & responsibilities.

If you are a director of an Australian company, then you need to know that you have responsibilities relating to that company, which can include:

Personal liability of directors for unpaid company taxes;

Personal liability of directors for unpaid company superannuation;

will your executor and attorney be able to locate and access your assets

Will your executor and attorney be able to locate and access your assets?

will your executor and attorney be able to locate and access your assets

As our lives increasingly move to online digital platforms, it is becoming more important to help your executor access your “digital assets” after you die.

Digital assets include social media accounts, shopping accounts, bank or investment account details, entertainment collections, gambling accounts, and the like.

In 2020 the NSW Law Reform Commission released its report*, which found that 92% of people do not include details with their Will.

what is my digital profile and why should i care

What is my Digital Profile and why should I care?

what is my digital profile and why should i care

In our digital‑first world, where Google has replaced the telephone directory and business cards have been supplanted by LinkedIn, our online digital profiles are the first impression we give to the world and the primary source of information that others will use to research us.

Our digital profile plays a huge role in both online and offline reputation, privacy and security management.

We need to focus on our digital profiles through the lens of our true audience, whether that be family members, prospective employers.

time to get wise about digital security

Time To Get Wise About Digital Security

time to get wise about digital security

Even as the pandemic winds down, it continues to influence where and how we work, with more time spent online, you and your digital credentials are at risk now more than ever.

The COVID-19 pandemic disrupted the home lives and workplaces of millions worldwide. Offices closed, people transitioned to working remotely and shopping online, and families bunkered-down at home.

With nowhere to go, they spent more time online. That isn’t likely to change anytime soon, even if some offices re-open.

the growing industry of cyber-crime that is brokering stolen data in australia

The growing industry of cyber-crime that is brokering stolen data in Australia

the growing industry of cyber-crime that is brokering stolen data in australia

In October 2022 (which ironically was ‘cybersecurity awareness month’), Australia experienced several major cybersecurity breaches (“hacks”), including Medibank and its subsidiary AHM, Optus, Woolworths and electricity provider Energy Australia.

Many other Australian and foreign companies – large and small – are all now among the household names that have fallen victim to a data breach.

preparing for your digital afterlife

Preparing For Your Digital Afterlife

preparing for your digital afterlife

When was the last time you posted a letter, printed out a photo, rang up your share broker, or visited a bank branch? Chances are, not that recently.

This is because more and more of our lives are spent online, and hanging off digital cloud services.

But what would happen if you lost mental capacity or died? While your physical life may be well provided for, chances are your digital life is seriously at risk.

What are digital assets

Estate Planning must include Digital Assets

What are digital assets

How many things in your life do you manage or store on your computer, tablet, smartphone or online? Like many people today you probably access photos, videos, music, e-books, blogs, movies, emails, conversations, social media, games, bank accounts, medical records, and even your identity – all online.

All of these are called “digital assets” and they may be of financial or sentimental value to you and your family. They can be just as precious and important as physical assets that you can touch. They should be part of your general planning for what happens when you die or if at any time you are unable to manage your own affairs.

did you know youre a yoyo

Wills and Estate Planning Adelaide: Did You Know You’re A YOYO?

did you know youre a yoyo

YOYO stands for You’re On Your Own, and it has never been truer for Australian retirees.

In the 1980’s when Bob Hawke and Paul Keating changed government policy to encourage us all to save enough money for our eventual retirement, we did so with an expectation of mastering our own destiny to enjoy a wonderful and carefree retirement.

The idea was to reduce the dependence upon government funds for the old-age pension.

There has been a tremendous change in the social culture of Australia in the 40 years or so since superannuation commenced.

marriage or de facto some legal issues to consider

Marriage or De Facto – Some Legal Issues to Consider

marriage or de facto some legal issues to consider

You may have thought the hardest decisions associated with formalising your relationship related to organising the party and keeping uncle Fred away from cousin Merle, but here are a few other considerations…

Change of Name

Traditionally, when a woman married, she took the last name of her husband. However this is not as common as it once was, and there is no legal compulsion to do so.

know somebody who is losing control of their own affairs

Know somebody who is losing control of their own affairs?

know somebody who is losing control of their own affairs

You’re not alone. Every Australian family will be affected by dementia. As we get older, we need to have in place some important legal documents to protect ourselves, our family and our assets. If you wait too long, it could be too late.

In 2021 dementia affects almost 50 million people worldwide, which is predicted to increase to 131.5 million people by 2050.

Every three seconds another person somewhere in the world develops dementia.