In our business lives, we must earn income, pay taxes, and most importantly, preserve wealth. Our clients gain safe and reliable asset protection strategies to lawfully protect their inheritances, wealth, and other assets against creditors, business partners and lawsuits.
We help to protect your interests and in conjunction with your accountant, tax and financial advisors develop a legitimate and realistic asset and tax protection strategy tailored to you. We examine your circumstances holistically and devise a suitable structure.
Common asset protection strategies and structures include:
Family and other discretionary trusts
Family law binding financial agreements
Testamentary trusts and wills
Contact us to leverage off our 25 year experience in-depth knowledge and experience in asset protection, taxation, and trust law to ensure you maintain control over their wealth and assets.
Personal Property Security
Security interests are protected under the Personal Property Securities Act 2009 (PPS Act). The PPS Act contains the rules, regulations, or laws on how registrations and searches are made. This act covers most tangible and intangible assets, except for land, fixtures, buildings, fit-outs, liquor licences, water rights, and certain statutory licences. Fundamentally land and water interests are excluded from the PPSR. Security interest covered by the PPS Act include:
Old fashioned Romalpa clauses (retention of title clauses)
Fixed or floating charges
Chattel mortgages (CM)
Hire purchase agreements
The Personal Properties Securities Register (PPSR) under the PPS Act is a national platform where entities register and search security interests in personal property. Security interests are issued in personal properties such as motor vehicles, intellectual property licenses, company assets, boats, furniture, goods, stock, receivables, machinery, equipment, and other rights under contracts.
The PPSR is complex and must be handled with care to ensure registrations are “perfected” and effective. Failure to have a perfected registration could mean you lose your asset – even though you own it.
Issues related to PPSR arise due to:
Failure to register
Breach of contract by the grantor
Inaccurate registration information
Failure to comply with the PPS laws and priority rules
Customer mixes up or comingles goods sold
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We help you understand the provisions of the PPS Act and how it impacts your business.
We ensure you avoid the legal traps in the PPS Act during registration the process.
We help you with all matters that relate to the PPSR including “perfecting" your security interest.
Having helped many clients concerning the Personal Property Securities Act, we can assist when enforcing your rights against third parties.
We also assist secured parties to register their interests and review or amend their terms and conditions of trade to reflect the requirements of the PPS laws.
We assess your business and identify the necessary registrations you require in your daily transactions to protect your asset or interest.
It is also important to know that perfecting your security interest gives you the power to override the unperfected ones. Being the first to register your personal property securities gives you priority. You should act immediately to protect your security interests on the PPSR.