Separating from your partner and relocating with your child: how does the law work?

Moving to a new city or State can be an exciting prospect in terms of employment, proximity to loved ones – or simply for a fresh start. However, after separating from a partner with whom you share children, relocation becomes more complicated. Our team of Family Lawyers here in Melbourne explain the laws around relocating with children so you can understand what to consider and what to expect. This information is relevant whether you are planning on relocating with your child or children following a separation, or whether your ex-partner would like to relocate.

The basics of Family Law

The laws and protocols around families and children is contained within the Family Law Act 1975. When it comes to issues concerning children, all matters are governed by one guiding principle. That is that the Court will always make its decision based on the best interests of the child. This includes any case involving relocating with children.

As a parent, you know what is best for your child. In the eyes of the law, the best interests of children are met by:

• allowing children the benefit of both parents having a meaningful involvement in their lives (children have a right to spend time on a regular basis with, and communicate on a regular basis with, both their parents and other people significant to their care, welfare and development)
• protecting children from physical or psychological harm
• ensuring children receive proper parenting
• ensuring parents fulfil their responsibilities in regards to the care of their children.

These points are assumed to the maximum extent consistent with the best interests of the child.

Parenting arrangements/orders

Upon separating, ex-partners will come to some kind of arrangement – whether that be verbal, written or put in place by a formal court order – about how the children of the relationship will be cared for. This includes how much time the children will spend with each parent. Parenting arrangements or orders are important within the context of relocation, as these arrangements will likely no longer be practical if the move goes ahead. This is important to remember through the next steps in the process.

If you and your ex-partner agree

Coming to an agreement on your own terms is the most desirable outcome. For example, a common arrangement is that the parent who is not relocating will look after the children on school holidays, to make up for time missed.

If you and your ex-partner have come to a mutual agreement around relocation and relevant parenting arrangements, then you should formalise this arrangement either by consent orders or an official parenting plan. You should seek legal advice before entering either.

Formally documenting your arrangement is important so that each party understand exactly what they are agreeing to, and to avoid disputes in the future.

If you and your ex-partner cannot agree

If you and your ex-partner would like to agree but need help to reach a final agreement, you can undergo dispute resolution with the help of Family Law experts.

If this is not possible, then you will need to apply to the Court asking for an official order which allows you to relocate with your children.

Similarly, if you would like to stop your ex-partner from relocating with your children, you can also ask the Court to make an order to prohibit them doing so. This court order could include parameters such as the child’s residence being within a certain metropolitan area, or a defined distance from their current school.

The Court will consider whether the move is in the children’s best interests, with consideration given to an adult’s freedom to relocate if they wish.

What if there was a relocation without consent?

Relocating with a child without the consent of the other parent, or without a court order, is known as ‘unilateral relocation’. If there is a unilateral relocation, the Court will likely order that the child is returned.

If there is a court order in place and the unilateral relocation means that this agreement can’t be followed, this is a considered a breach. Breaching your court orders can have serious implications, including fines and even imprisonment in some cases.

If you have relocated without the consent of the other parent of your children, or vice versa, you should seek legal advice.

What about the wellbeing of parents?

As mentioned – the paramount decision in court matters involving children is the wellbeing of the children. That doesn’t mean; however, that the needs and wellbeing of the parents aren’t considered as well.  

For example, the court will consider the location of the proposed move, and whether (or whether not) that location will improve the mental health of the relocating parent. This could come in the form of increased family or social support, for example. Another factor is whether the relocation is to an environment that supports the parent and child’s culture and religion.

Financial circumstances are also considered in the court proceedings. If the relocating parent will have improved job prospects or their financial situation will improve, or if they have had financial hardship in their present location this will also be taken into consideration.

As you can see, these factors are related to the wellbeing of the parent, but ultimately consider how they effect the parent’s ability to undertake their parental responsibilities.

What if my ex-partner is uncontactable or isn’t in the child’s life?

Each child relocation case is different and will be treated as such; however, if the parent who is not relocating spends little or no time with the child, this will be considered by the Courts, again, through a lens of the child’s best interests.

Furthermore, if one parent has a history of abuse or neglect, then it’s likely that it will be in the child’s best interest to relocate.

In this situation, we recommend engaging the services of Family Law experts to ensure that your decision to relocate will be upheld by law.

A short (but important) note on international travel

If you are separated from your partner and would like to take your child overseas on holiday, you’ll need written consent from the other parent.

While parenting orders are in place, it’s a criminal offence to take or send the child overseas without consent, unless there is a particular and specific order in place allowing that to happen.

Finding the best outcome with Family Law experts

Le Brun and Associates is a leading Melbourne family law firm that can give expert guidance around separation, child residence, and relocation. Our team is ready to support you and understand your unique situation. Contact us today for a complimentary 30-minute consultation.

This post was originally published on https://www.lebrun.com.au/le-brun-associates/

Can you divorce without a property settlement?

Like any major life interruption, going through a divorce will likely be a challenging experience for those involved. Following a relationship breakdown, getting your affairs in order – including property settlement — can be complicated and time consuming. Here at Le Brun & Associates, we believe it is useful to know where you stand, so you can begin the process of property settlement with your former partner.  

To answer the question simply: yes, you can apply for divorce prior to property settlement if you wish; however, this is not recommended. Read on for an outline on what to expect during property settlement, and why you should consider undergoing property settlement prior to your divorce being finalised.

What is a property settlement? 

Divorce and property settlement are two separate legal matters. From a legal standpoint, divorce is the nullification of a marriage, essentially allowing either party to remarry if they choose to. 

Settlement of property within the context of divorce and separation refers to the arrangement made between parties to divide assets, liabilities, and financial resources upon separation. 

You do not need to be divorced to obtain a property settlement. However, it is important to keep in mind that if your divorce is granted before obtaining property settlement, a strict 12-month time limit is in place to do so. This time limit is in place to avoid future disputes between the parties. 

What is defined as property? 

“Property” refers to all capital assets owned by either one or both parties, and broadly includes almost anything of value acquired during or prior to the relationship. “Liabilities’’ are also included under the property umbrella. This is the legal term for any debts owing. 

Examples of property include: 

- real estate 
- inheritances 
- shares 
- money 
- investments 
- insurance policies 
- superannuation 
- any other assets, such as cars or jewellery 
- debts, such as mortgages, loans, credit cards and personal debts.

Once these assets and liabilities have been considered, they are referred to as your “asset pool”. Your asset pool should include all possible items, regardless of whose name is on any documentation, or who you believe has ownership of any one item. 

Why you need a property settlement as soon as possible 

A property settlement should not only be documented, but also be enforceable in the Family Court. This is because, as we are dealing with an often highly sensitive issue, one or both parties may change their mind, and dispute what was originally agreed upon in an unofficial capacity. 

Furthermore, if you or your former spouse accumulate more assets or wealth after your separation, these assets and wealth could be available for the other party to claim their share of. 

Even if you and your former partner are on reasonable terms, it is in both of your best interests to engage Family Law experts as soon as you separate, to ensure the property settlement is not only fair but legally binding.  

Going to court

Settlement of property can be made with or without the involvement of the Family Court. Even if you and your partner plan to settle property without the court (which is what we would recommend), it is important to seek legal advice. Our compassionate team of Family Law experts can help you divide your assets and ensure all agreements are enforceable and legally binding. 

If you do need to go to court to resolve any property settlement issues, the Family Law Courts require the applying parties to make a genuine effort to resolve their matter before filing. You may be required to attend a mediation service, or to try to resolve your matter with the help of a lawyer.  

De facto relationships 

In Australia, de facto couples are afforded many of the same rights and responsibilities as married couples. This is the case when it comes to property settlement. 

To determine whether your relationship can be considered de facto, it must meet the following criteria: 

• - Both partners must be 18 years or older 
• - Neither partner can be in a marriage or registered relationship with a third party 
• - Partners cannot be related by family 
• - The relationship must include a financial or personal commitment or support of a domestic nature made by at least one partner to the benefit of the other. 

The main difference between married and de facto property settlement post separation is the time limit in place. As stated, for married couples a 12-month time limit applies. For de facto couples, a 24-month time limit applies. 

The process with lawyers

Identify the properties

Both parties will have to determine and work out what the asset pool is in order to decide how to divide it. 

Check contributions

The contributions of each party will be considered during property settlement. This can include both financial and non-financial contributions, including gifts from family and friends, taking care of your children or work completed to improve the home.  

Assess future needs of each party

The third step is assessing future needs. “Future needs” will be assessed on a range of factors, including earning capacity, health issues and the responsibility of children. One party may need a certain standard of finance to support their living situation, for example.  

Consideration about a Fair Settlement

The Family Law Court will determine if their decision to divide assets will be equitable and reasonable to both parties. Separated couples are encouraged to work out their property settlement prior to going to court.

Finding the best outcome with a lawyer

At Le Brun & Associates, our dedicated team of Family Law and property settlement lawyers can help you with a tailored approach based on your individual circumstances. We will work with you to get a fair and equitable outcome and discuss all your options so that you are fully informed of all important steps you need to take through this process. We offer urgent and prompt advice to ensure you make the correct decision.  

Contact us today for your FREE 30-minute consultation. At Le Brun and Associates, you can rely on us to help you through this difficult time. 

This post was originally published on https://www.lebrun.com.au/can-you-divorce-without-a-property-settlement/

What are my rights in a de facto relationship?

When you get married you are automatically entitled to a swathe of protections, rights and responsibilities which provide guidance in the event of a relationship breakdown, a partner losing capacity, or the death of a partner. However, you do not need a marriage certificate in order to enjoy many of the legal benefits of a marriage. If you are in a de facto relationship then you and your partner are entitled to many of the same rights and protections as a married couple.

To determine whether your relationship can be considered de facto, it must meet the following criteria:

• Both partners must be 18 years or older
• Neither partner can be in a marriage or registered relationship with a third party
• Partners cannot be related by family
• The relationship must include a financial or personal commitment or support of a domestic nature made by at least one partner to the benefit of the other

On a federal level, de facto relationships are only recognised when the partners are living together, but you are able to register a relationship within the state of Victoria regardless of whether you and your partner share an address. Although you can formally register a relationship in Australia without getting married, your relationship does not need to be registered in order to be considered de facto.

If your relationship can be considered de facto, you may have some queries about the rights you have both during the relationship and in the event of relationship breakdown. Should you experience a significant change in the nature of your de facto relationship, it is best practice to consult a lawyer as they can represent your interests and ensure you receive the protections you are entitled to.  

 Am I liable for spousal maintenance?

If there is a significant disparity between your income and the income of your former partner on the date of separation, you may be liable to pay spousal maintenance after you separate, though this is known as de facto partner maintenance when there is no marriage. De facto partner maintenance functions to ensure both persons in a partnership are able to meet their living expenses after the relationship breaks down, so if your partner had been relying on your income for their living expenses then they may be entitled to continue using a portion of your income post-separation. Maintenance will need to be paid if the court determines that you have the capacity to pay and your former partner has a need to be paid. 

The extent of support is determined on a case-by-case basis and will be dependant on what is considered reasonable living expenses and the financial position of both partners. When the court is deciding on payments, these factors will be taken into consideration:

• Your age and health
• Your financial resources, including wage and property
• Your ability to work
• Whether the relationship affected your ability to earn an income

The payment amount will also be affected if you and your partner have children under the age of 18 or adult children with a disability as the court will take into consideration which parent is the primary caregiver.

Applications for de facto partnership maintenance must be made within 2 years of relationship breakdown and payments will be stopped if the person receiving payments enters into a new partnership or marriage.

Can my de facto partner take my superannuation?

Superannuation within a de facto relationship functions in the same way as it does for a marriage, so your former partner may be able to access your superannuation.

You and your partner can make a superannuation agreement to determine how superannuation received by either partner will be split post-separation, this will give you more control over your superannuation should your relationship breakdown. If you make an agreement that complies with superannuation laws then it is binding, meaning:

• The trustee of the fund is required to implement it
• The court cannot make a decision about the superannuation interest that is dealt with in the agreement

You should contact a lawyer if you choose to make an agreement as a lawyer will ensure the agreement complies with the law and is in your best interest. An agreement can be made during the relationship or after relationship breakdown.

If your de facto relationship has broken down and there is no agreement in place then the court can choose to split your superannuation as part of a property settlement order. Any court order made regarding your superannuation is binding and the trustee is required to implement it.

Am I entitled to a share of the estate if my partner dies without a Will?

The estate of someone who dies without a Will has their assets distributed in accordance with intestacy rules. As these rules include de facto partnerships within the definition of spousal relationships, de facto partners are entitled to the same rights and benefits as people within a marriage. This means that if your partner dies without a Will, then the distribution of their estate will be dependent on whether they had children.

• If your partner has no children, or their children are from your relationship, then you are entitled to the whole estate
• If your partner had children from another relationship then those children may be given shares in the estate

If your partner dies without a Will then you should seek legal advice as soon as possible to determine whether you are entitled to a portion of the estate, or whether you need to make a family provision claim.

At Le Brun & Associates, our dedicated team of family lawyers can help you realise and protect your rights within a de facto relationship. We provide sound and knowledgeable advice with the highest level of service to ensure you are not taken advantage of. Contact us today for your FREE 30-minute consultation. At Le Brun and Associates, we always stand by you.

Partner Separation During COVID-19: Know Your Rights

The COVID-19 pandemic has fundamentally changed our day-to-day lives, affecting small things like how we shop and large things like how we work. This has understandably placed a great deal of stress on relationships, with data from Relationships Australia suggesting that 42% of people have experienced negative changes in their intimate relationships. Divorce rates are likely to increase post-lockdown as a result, so if you are now preparing to separate from your partner, you are not alone.

It is a confusing time to be considering leaving your partner and, for people who have already left their partners, it can be tricky to navigate the arrangements made pre-COVID regarding finances and childcare. But even though the world around you has changed, your rights have not. Having a lawyer by your side at this time is very important, as a lawyer can help you:

• Gain access to emergency funds
• File for an intervention order
• Walk you through remote hearings
• Ensure you retain access to your children

Having a lawyer on your side is the only way you can make sure your rights are maintained as you go through the process of separating from your partner. If you feel trapped in your current financial and living arrangements, or if you are struggling to maintain contact with your children, a Family Law Solicitor can help you regain your feet and gain your rights.

Accessing Funds

When you live with your partner and share funds, it can be difficult untangling your life from theirs once you have decided to separate. This situation can be made worse if you need to leave the property you share with your partner or need money to finance your life post-separation. The pandemic may have put further stress on your finances through its toll on the economy and working Australians, making accessing your funds even more vital. A lawyer is essential in handling these situations, they can negotiate with your former partner or their representatives to secure access to funds, apply to the court for urgent orders to seek a release of funds, and secure any money you are entitled to by way of property settlements. You have a right to remain financially secure after separating from your partner, hiring a lawyer can ensure that you are not taken advantage of.

Contacting Children

Rules and restrictions around travel and social contact have been put in place by the Victorian Government to help stop the spread of the coronavirus, although these rules can stop you from seeing your friends, they cannot stop you from seeing your children. The childcare arrangements you had with your partner before lockdown have not been changed in light of the pandemic, your rights remain the same. If your former partner is trying to restrict your access to your children, they are infringing on your rights. Hiring a lawyer is the most effective way to gain your rights as a parent as a lawyer can communicate with your former partner on your behalf and take your case to the family court if they continue to deny your visitation rights.

Getting a Hearing

You may think the lockdown has resulted in the courts being closed, but this is only true on a physical level. All courts remain operational, though hearings are now being conducted online as opposed to in the courthouse. A lawyer will help you get your matter heard by the court; we have the set-up required for virtual hearings. Some court procedures have been changed due to COVID-19, including the process for obtaining an intervention order, lawyers can help you navigate these changes and inform you of all your options.

At Le Brun & Associates, our dedicated team of Family Law Solicitors and Divorce Lawyers can help you navigate the complications associated with your separation with confidence and meet your urgent needs to seek clarity so you never feel alone. We provide sound and knowledgeable advice with the highest level of service to ensure that you get the best possible outcome from your separation. Contact us today for your FREE 30-minute consultation. At Le Brun and Associates, we always stand by you.

Unfair Dismissal Cases & Claim

Losing employment can be devastating, taking a toll on both your mental and financial health. If you have recently lost your job, it is important that you consider all your options as you may be able to seek reinstatement to your position or be entitled to compensation. At Le Brun & Associates, we can help work out whether you have a case for unfair dismissal and we can guide you through the court process to make sure you obtain a positive outcome. Any compensation payout would be sought to take into account the costs associated with pursuing a claim, so you will benefit from calling us to assess your options. It is important to speak with one of our lawyers as soon as possible, as the window for lodging a complaint with the Fair Work Commission is only 21 days from when you are terminated from your employment.

Do I Have A Valid Claim?

It can be challenging working out whether your former employer breached Fair Work legislation in dismissing you. To meet the criteria for a valid claim you need to have worked for your previous employer for at least 6 months in either a part-time or full-time role, and:

• Earned less than $153,000 per year, or
• A modern award covers your employment, or
• An enterprise agreement applies to your employment

Some of these criteria may vary if your former employer is a small business. The next thing you need to consider is whether your loss of employment was a genuine redundancy, meaning changes in the business have made your previous role unnecessary and your employer has complied with any applicable award or enterprise agreement. Our lawyers can help you work out whether you meet these criteria, so please call us for the assistance you need in seeking clarification.

If your loss of employment was based on performance rather than redundancy, you may still have a valid claim for unfair dismissal. Before they can dismiss you, your employer must warn you about performance issues and give you time to resolve these problems. So, if you were given no prior warning before dismissal, we may be able to help you make a claim for unfair dismissal.   

At first glance, you may not believe you have a solid case for unfair dismissal, but there is still value in speaking with one of our lawyers as we might discover that your claim is valid due to an exemption in recent legislative changes. So, contact us and we can walk you through all your options.

What Happens When I Make A Claim?

There are a number of different routes you can take once you have decided to make a claim, and our lawyers can guide you through them to ensure the most beneficial outcome for you.

A voluntary first step is conciliation, an informal method of resolving disputes between you and your former employer. This process is done outside of the court, we can help negotiate with your former employer so you can obtain the best possible outcome for you. You and your former employer are under no obligation to reach a settlement during conciliation.

If conciliation does not resolve the issue, then your claim will proceed to arbitration where it will be reviewed in either a conference or a hearing by the Fair Work Commission. Our lawyers can help you prepare your case, ensuring it is clear and organised, and represent you at any such hearing. Well prepared unfair dismissal cases are far more likely to succeed, so speaking with one of our lawyers will benefit you greatly.

It is important to have legal representation throughout this process to ensure you are always well-informed of your options and aware of any coming deadlines. The outcome of an unfair dismissal case can drastically affect your life and your income, so call us and we will assist you. 

At Le Brun & Associates, we care about you and will do all in our power to help you either regain your employment or seek compensation. We can assist you through the negotiation process with your former employer and represent you at the Fair Work Commission. It is important to contact us as soon as possible to get the best chance of success in your claim. Contact us today for your FREE 30-minute consultation.

Purchasing a Property or Land? 5 Reasons Why you need a Lawyer on Standby

Our professional property and litigation lawyers will help you
every step of the way with your land, first home or investment property
purchase to achieve the best possible outcome. 

Purchasing a home or area of land is a major investment at any stage in life. While it’s an exciting process, it can be equally daunting, especially if you’re a first-time buyer. In theory it might appear straightforward to purchase a property, but in practice there’s a lot of work involved and several instances where matters can become complicated. For example, understanding legal jargon outlined in your contract or assessing your specific tax requirements.  

Having an experienced lawyer by your side gives you:

• total transparency of your contracts;
• confidence in decision making; and
• peace of mind.

An expert solicitor assures you’re covered throughout all unexpected areas of the property purchasing process. They can alert you to any concerns along the way and certify that everything is carried out correctly and legally to protect your best interest and make your investment worthwhile.

Here are 5 Reasons why having a property lawyer on standby is essential and how they can help you through every stage of the purchasing process:

1. Providing Advice on Property Inspections

There can be several areas of concern to look out for when inspecting a property, from internal damage such as mould to contaminated land surrounding the estate. These types of issues are not only costly to handle if you’ve already signed a contract, but they are an extreme health hazard and can have long term negative effects on your wellbeing. An experienced solicitor can give you advice about site inspections and help you arrange for searches and certificates to determine the condition of the property in question. Once the documents and certifications regarding the property are obtained, a lawyer can then review them with you so you can make a fully informed decision before committing.

2. Arranging & Reviewing Official Documents

There are several terms and conditions to understand when signing a contract for a property or land. Contracts can be particularly confusing when legal terminology is used which can be time consuming and stressful to interpret on your own. A solicitor not only arranges all your contracts to ensure everything is covered but with their expertise they know how to check for the right inclusions and exclusions as well as how to identify any unfair clauses. For example, real estate agents are not obliged to tell you about construction sites or developments in your area such as apartment blocks, skyscrapers, or power lines. This information can also be difficult to get hold of from your local council, but a lawyer can provide a comprehensive contract review to ensure there are no unexpected surprises down the road.

3. Preparing Financial Advice & the Deposit

Whether you’re a first home buyer or seasoned investor, a house or land is usually one of the biggest purchases you’ll ever make so you need to feel financially confident. There are several financial factors to consider from stamp duty, GST and capital gains tax (if you’re also selling your current house in exchange for a new one). A lawyer can help you calculate any taxes, so you’re not blindsided by any upcoming costs. Additionally, they can help you with your deposit by placing it into a trust account to ensure it’s ready prior to settlement.

4. Working with all Statutory Authorities Between Settlement

Before a final settlement comes into play, which can take between 4 weeks to 4 months for your desired property, a lawyer will continue to conduct enquiries on your behalf. They will work with all statutory bodies including the local council and water authority to check whether rates have been paid up to date. They’ll also prepare a transfer certification of the property from the Office of State Revenue before you need to settle. A lawyer can also work with your financial provider if necessary, to make sure all aspects of your finances are ready to take place on your appointed settlement date.  

5. Settling the Property

A lawyer will help you finalise everything from start to finish, from an initial contract review, final inspection disputes, as well as being by your side to settle the property on the nominated day. Their presence throughout the entire process is to make sure nothing is overlooked to guarantee the best deal moving forward. Settlement involves liaising and working with the current owner’s lawyer, your banking institution and local government agencies, such as, the Titles Office and council, to transfer the ownership title of the property. A qualified lawyer can also ensure that mortgage security is released from any lenders, remove any caveats and any other obstructions that might interfere with the final settlement.

At Le Brun & Associates, our dedicated team of Property & Litigation Lawyers can help you purchase a property or area of land with complete confidence. We provide sound and knowledgeable advice with the highest level of service to ensure that you get the best possible outcome from your investment. Contact us today for your FREE 30-minute consultation.

COVID-19 – Making Sure your Business is Covered

As experts in business and employment law, our lawyers at Le Brun & Associates are here to support you through tough times.

Just like the rest of the world, Australia is facing unchartered territory as we watch the effects of COVID-19 unfold. The spread of the virus is having major impacts on people’s health, daily routines, work and business operations. Rarely do people or businesses outside of the health sector have plans in place for a pandemic, particularly as rules and regulations enforced by governments in novel times are so unpredictable.

As many people’s livelihoods are on the line, this article addresses three major concerns for businesses regarding workplace laws, new business ventures, and managing debt and creditors in these uncertain times.

Abiding by Workplace Laws

Several businesses have been forced to stand down most of their staff or shut down their workplace entirely for the sake of public health and safety. But this has made workplace laws surrounding employer and employee rights confusing to say the least.

For eligible employers that have qualified for the JobKeeper Payment Scheme but are unsure about your entitlements and obligations as an employer, the Fair Work Commission has released a guide on managing disputes.

However, if you’re a business that doesn’t qualify for the government subsidy, and you’ve been facing complex decisions such as:

• Standing down employees without pay;
• Reducing staffing costs;
• Making redundancies;
• Issuing new employment contracts; and
• Subsidising leave payments;

Then you need to exercise caution before you make any final decisions. Enforcing hasty business decisions in order to protect your business now could be the subject of litigation down the line. It’s essential to seek professional, legal advice to ensure your business operations are lawful and protecting everyone’s best interests.

Starting New Business Ventures

While it’s important to remain optimistic during hard times, now might not be an ideal time to start a new business venture or purchase a franchise. Why? There can be several drawbacks with starting your own business under ordinary circumstances including:

• High start-up costs;
• Long hours;
• High stress & responsibility;
• Unsteady revenue; and
• Great financial risk.

Not to mention the current disruptions to supply chains across Australia and the world, as well as an unpredictable economy. So instead you should consider getting all your potential business plans in order first before locking anything in. This can help you position yourself for the best possible chance of success. If you need general business advice on commercial leases (for property or equipment), franchise agreements, or contractor & employment agreements, one of the most efficient ways to assure you’re covering the necessities is by consulting an expert in business and employment law.  

Managing Debt & Creditors

Whether you’re a sole trader or small business, if you’re struggling at the moment with debt amid the chaos of COVID-19, then you’re certainly not alone. While resolving debt can be one of the most stressful aspects to deal with in life, there are several ways you can manage and reduce debt over time by:

•  Assessing your budgets – Take a closer look at your business’s budgets and see where your money is going to establish how you can put it to better use.
•  Reworking & cutting down on costs – After you’ve identified your income versus your daily, monthly and annual costs, you can start to rework your budget and see where you can cut down on costs.
•  Negotiating with creditors – Speak with creditors directly to fashion a mutually beneficial repayment agreement through a formal extension, renewal or changing an existing agreement.
•  Prioritising your debt – Identify what you can afford to pay now, what you can pay later and where you need to meet in the middle.
•  Contacting your bank – Talk to your bank about applying for financial hardship and what you might need to outline your business’s current financial situation.

There are also some online government resources to help you handle business debt including the Australian Securities & Investments Commission (ASIC) and Support for Businesses in Australia.

At Le Brun & Associates, we can offer referrals to accountants and financial advisors alongside our Business & Employment services. As experts in business and employment law, we can offer advice and support on a range of workplace legal matters including employee leave and entitlements, business loans, debt recovery and lots more.

If you’re a business owner or an employee who is in need of urgent legal advice as a result of COVID-19, we offer a FREE one-hour initial consultation (normally only the first 30 minutes free). Contact us today.