January, 2015

How to legally protect your family home

It is important to remember that if a person becomes bankrupt, all their assets “vest in”, or become controlled by, their trustee in bankruptcy, who can then sell those assets to pay out the creditors of the bankrupt.

Such assets include the family home of the bankrupt whether the home is registered in the sole name of the bankrupt or the joint names of the bankrupt and their spouse or other family member.

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Dissolving a business partnership

Partnerships are one of the most common business structures. In order to establish a partnership all that is required is two or more individuals carrying on a joint business venture with a view to profit, each incurring liability for losses and the right to share in the profits.

Like a de facto relationship, no formal documentation or procedure is required to establish a partnership.

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