Business & Property Investment Entities

When buying a new business or investing in property, it is important to consider all of your options regarding the best possible entity to carry out the transaction.

There are a range of different entities that can be used to invest in business and property including family trusts, unit trusts, companies or partnerships and the right option for you will depend upon a range of factors. It is important to obtain advice from both a financial planner or accountant and your lawyer to consider the pros and cons of each option.

Whichever option you choose to proceed with, you will need to ensure that all of the necessary documentation is carefully prepared. For example, when creating a partnership it is important to prepare a partnership agreement that effectively outlines the rights and obligations of each partner in order to avoid conflict occurring at a later date. Similarly, shareholder agreements and trust deeds need to be tailored to the needs of all parties involved.

When establishing a new entity, it is also important to ensure that arrangements are put in place to ensure that there are mechanisms in place to deal with the death or disability of key people involved in the new entity and to ensure that your estate planning takes into account the effect of the new entity. Importantly, assets held in a family trust are not assets of the trustee or the beneficiaries, and do not form part of your estate. Therefore, when existing assets are held in a trust, amendments to your will may be necessary.

As with any legal transaction, there are a range of consequences associated with the establishment of a new business or property investment entity and you should obtain legal advice regarding these to ensure that you are fully informed.

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