Director Liabilities – Protecting Your Assets

Are you putting your personal assets at risk?

 

When going into business with individuals for which you share assets with (e.g spouse) it is important that your shared assets (e.g the family home) are protected should anything go wrong. Protecting your assets begins with a business structure that prevents them from ever being at risk in the first place.

When starting a business with a family member it may seem like a good idea to appoint multiple parties as directors to keep it in the family.

However, this is not the case. [Read more…]

Mandatory Reporting of Unsafe Products

Are you a small or large business providing consumer goods to clients?

Mandatory reporting laws have been in place since 1 January 2011 requiring businesses to report unsafe products sold which have resulted in serious injury, illness or death. The system is not an admission of liability but rather aimed at protecting consumers from products which are identified as being unsafe.

The laws apply to all small or large businesses in the supply chain including: retailers, dealers, hirers, distributors, installers, repairers, importers, exporters, and manufacturers of consumer goods. It will also relate to services associated with the goods (installation, maintenance etc.).

‘Consumer Goods’ are goods that are intended to be used for personal, domestic or household use or consumption.

[Read more…]

Testamentary Guardians of Minor Children


Have you considered who will look after your children under 18 upon your death?

A point of concern for parents making a will for the first time, or reviewing their will, is the appointment of a Testamentary Guardian for their children under 18.

A well-considered appointment of Testamentary Guardians can help avoid the distress of family disputes over children, should one or both parents die.

[Read more…]