Personal liability for company directors

A company is an association incorporated under the Corporations Act 2001 (Cth) (the ‘Act’). The effect of incorporation gives the company a separate entity, distinct from its directors and shareholders. It can enter into contracts, sue and be sued in its own...

The role and responsibilities of a trustee

A trust is a vehicle through which property is legally held by a trustee for the benefit of others. It separates the beneficial and legal ownership of property. The parties to a trust are the settlor (person creating the trust), the trustee (the legal owner...

Farm succession planning – striking a balance

The diversity of a family farming enterprise amidst the dynamics of the family unit can raise challenging and complex issues. The topic of succession planning is often highly emotive. The respective contributions from individuals to the farming enterprise...