No matter what the nature of your business is, simply by owning a business exposes you to the risk of someone making a claim against you and your assets.
Any degree of business collapse will impact on the private lives of those involved, whether they be directors, shareholders, employees, creditors, etc. Even long standing family businesses are not immune from collapse - but with the failure of a family business, it is likely that the family members will experience greater impact or disruption, both socially and economically.
Here at Crowley Calvert & Holmes, we can assist you in intelligently structuring a business so that any impact of business failure is minimised in terms of personal assets and family circumstances. We provide individualised tailored advice and planning, as there is no standard structure which will suit every business.
Our team will tailor asset protection measures in light of such legislation as the Corporations Law, Income Tax Assessment Act, Family Law Act and the Bankruptcy Act and consider Family Law aspects to protect all the family members in the event of divorce or family dislocation resulting from, among other things, a family business failure.
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