LTC's

Take the Auckland Legal Free LTC "Check-Up".
LTC "Check-Up"   Select Yes or No
1 Does the LTC have a constitution?   Yes No
2 Have all directors/shareholders read the constitution in the past year?   Yes No
3 Do all directors/shareholders have a copy of all the LTC documentation?   Yes No
4 Do all directors/shareholders regularly hold formal annual meetings?   Yes No
5 Are all directors actively involved in all LTC decisions?   Yes No
6 Does the LTC have an up-to-date minute book and registers?   Yes No
7 Are all director/shareholder decisions recorded in writing?   Yes No
8 Are financial statements prepared for the LTC every year?   Yes No
9 Are all director/shareholder interests disclosed every year?   Yes No
10 Does the LTC have a separate bank account?   Yes No
11 Have all insurances been transferred to the LTC and acknowledged in writing by the insurer?   Yes No
12 Is your will up-to-date?   Yes No
13 Does your will take account of your LTC and shares?   Yes No
14 Did you know that you are liable for the tax of your LTC?   Yes No
15 Do you really know how your LTC fits in to your over-all asset / tax / business / succession / relationship property planning?   Yes No
16 Do you have a shareholders agreement?   Yes No
17 Have all transactions involving the LTC been properly documented?   Yes No
18 Have all changes to shareholding been formally notified to the IRD?   Yes No
19 Do you understand the tax consequences of the current shareholding structure?   Yes No
20 Do you never have to top up your LTC mortgage and/or property expenses from your personal income?   Yes No