We are thrilled to announce that from 1 November 2023, Machaela Forbes has appointed as a director of The Law Shop! Machaela has been a solicitor with us since 2017 and quickly became an integral part of The Law Shop family. She has consistently demonstrated...
We are so pleased to announce that we have moved into our new premises! There is still work to be done outside and some tweaks inside but we have settled in, are seeing clients and loving our new space!
Back in 2003, Paula and the two women she worked with dreamed of owning and running The Law Shop as a business where women could have it all – a great job balanced with an involved family and personal life - from a quaint little house on the corner of Ranolf and Devon...
Our next big announcement is that we are moving! The Law Shop is thrilled to announce that we are moving to 170 Ranolf Street on 1 September 2023. Renovations are currently underway, and we're excited for you to see the changes and experience the ample parking space...
The koru symbolises new beginnings, life and hope. Today marks the dawning of a new era at The Law Shop! On Friday 30 June 2023, our family lawyers had their last day with us, and now our property team stands strong and ready to embrace the exciting opportunities that...
After 9 years as business partners, Stephanie is leaving The Law Shop on 30 June to pursue an exciting career opportunity at Kahui Legal. Samantha will join here there and we will cease offering family law although we’ll continue to draft and advise on relationship...
At The Law Shop, we specialize in real estate transactions, including mortgage refinancing. Let us take care of the legal work to ensure your refinance goes smoothly and without any complications. We understand that refinancing your mortgage can be a time-sensitive...
Whether it’s a showroom, retail space or hospitality business, or even just an area to park your company vehicles, it’s important to have a lease which ensures that both you and your landlord have a clear understanding of each other’s rights and obligations. Paula...
“Essentially, due diligence is doing your homework and thoroughly investigating the business before you commit to buying it,” says Paula Lines from The Law Shop. “You’ll need to get accounting advice on the past performance of the business, research council...
Business law expert and Director of The Law Shop Paula Lines explains that businesses that have their planning in order are better protected. All sorts of issues can come up this time of year, but plenty can be dealt with ahead of time. “Payday is a big one. You’ll...
Business law expert Paula Lines, director of The Law Shop, has been working from a virtual space since August this year and for her firm, it’s working well. Although the Greerton office is gone, it’s business as usual for The Law Shop. After thorough research and an...
Does your business close over the holiday season so you and your team can enjoy some time to rest and recharge? If so, you’re probably looking forward to recording a new voicemail message for when you shut the doors until January. Maybe you work through the Christmas...
Maybe you’ve arranged income protection insurance to make sure that your family isn’t left high and dry if things go pear-shaped. That’s great, but from a business perspective, there’s more to it. So, what happens to your business if you or your business partners get...
“We’re often told by our clients that they “don’t have a mortgage” when they ask us to act for them on the sale of their home. However, many times when we search the title, we find there is a mortgage registered and we will need to have it discharged on the settlement...
There are plenty of things you can do to get the most out of the sale of your business. It all depends on your motivations and objectives, but if you can afford to take the time you should do everything you can to get it in the best shape possible before you even look...
“Usually, if a marriage, civil union or de facto relationship has lasted more than 3 years, all relationship property will be divided equally between the parties unless there is an opting out agreement, or if the Family Court determines that there are extraordinary...
Your landlord or a supplier can ask for your personal guarantee, which is common business practice. If the business becomes unable to pay the debt, the personal guarantor will be called upon to repay what’s outstanding. In small businesses, the guarantor is usually...
So you’ve registered formal interest, taken care of due diligence, and you’re ready to sign on the dotted line and buy the business. Now it is important to make sure that all the important contracts get transferred from the previous owner to you. It’ll help you make a...
At that time, it is important to appoint an adviser who can assist you further. Professional advice is important to make sure all bases are covered, but getting a lawyer and accountant on board also improves your credibility as a buyer. “A lawyer’s role in the process...
Yes, you read that right. The Law Shop, with offices in Tauranga and Rotorua, is a firm of all women. It wasn’t set out to be that way when director Paula Lines took over the then Rotorua-based legal firm in September 2008. There was no plan in place to keep it ladies...
Paula Lines from The Law Shop explains that this risk can be enough to put some people off having their own business and that this is where setting up a trust can be useful. “If a trust owns your family home, and there is no debt back to you, the house is likely to be...
If you’re starting a business this year, there will be a lot to think about. Are you starting from scratch, or do you want to buy an existing business or a franchise? Buying a business gives you a known name, some structure, and a client base. Starting a brand-new...
Paula Lines, director at The Law Shop, explains that creating the partnership or shareholders agreement and setting up the proper structure for the partnership are the two most important steps in the process. She says it’s about understanding the mechanics of how your...
Most contracts do not become legally binding until it has the signatures of each party involved. By signing off on a document, it confirms each party’s agreement and intention of executing the terms in the contract. Whether you are agreeing to an employment contract,...
Many businesses are operated through companies to limit the liability of the people behind the company, but there are circumstances when a director will be personally liable. It’s important to know when those liabilities may arise. Paula Lines from The Law Shop...
The AML/CFT Act applies to banks, casinos, financial institutions and some trust and company service providers. If you’ve tried to open a bank account or get a loan in recent years, you’ve been asked to provide certain identification and proof of address as well as...
“If it becomes clear that a trust is no longer needed or desirable, the trust can be wound up. For instance when administration costs are too high in relation to the recognised benefits. Also, if the purpose of setting up a trust in the first place was to protect...
A trust is a legally binding arrangement when a person (the settlor) transfers legal ownership of assets to certain chosen persons (trustees) to be held for the benefit of other persons named by the settlor (the beneficiaries). If your family home is in a trust, for...
As this is going to be your livelihood, you’ll need to know exactly what you’re getting into. Paula Lines and her team at The Law Shop provide expert legal advice on all of the aspects of purchasing a business, from the purchase agreement to the lease, so you can...
“It’s very much like the EPA, but it’s a different document. This is the one you need for your business. If you're overseas, become incapacitated, or if your business partner dies and you don’t have this deed sorted, you can count on major headaches. Costly delays and...
Learning how to effectively manage your money can truly make or break a business, as cash is the lifeblood of any venture. Controlling cash can be streamlined by bringing in technology to assist with anything from accounting reconciliation to supplier management. Depending on the size and scope of your operations, you can start off with a simple spreadsheet or better still, invest in an appropriate software package.
For most businesses, experiencing unexpected highs and lows in sales is a reality, and both can have a serious impact on your cash flow. If money becomes an issue, because you need to invest in new equipment, hire more staff or involve a third-party supplier, for example, you could consider taking out a business loan.
You can turn to your bank or see one of the many finance and lending companies for this, but do not rush things as it is hugely important to get it right. If you’re thinking about purchasing assets or expanding your business, or your business needs an overdraft to cover shortages, one thing is certain – the lender will want security.
“If you own your own home, you may be able to borrow against it for the capital to buy or start up the business or an overdraft for help with cash flow. If you can borrow against your house, you’ll be able to get home loan interest rates rather than business rates and you may get a longer-term,” explains Paula Lines, Business Law expert and Director of The Law Shop.
“A mortgage over a house is a more attractive option for a bank, as it’s usually easier for the bank to sell a house if they need to rather than trying to sell business assets, which may not have a huge amount of value outside that particular industry,” she says.
“Whether you can do this will depend on how much you already owe secured against the home. It also puts your home at risk if your business fails, so you need to be absolutely sure that it is a good option for you.”
Over the years, The Law Shop has worked with all major banks as well as specific business lenders. Whatever your reasons for business borrowings, Paula and her team can help you with obtaining the funds you need to keep your business thriving.
Call 0800 LAW SHOP if you would like to discuss your situation with the team. They understand the securities that lenders require and can explain everything so you are fully aware of your options and obligations, and understand all that’s involved.