The international shipping industry is one of the fastest growing in the world today. While a ship owner can expect their business to run without issue most of the time, there are occasions when emergencies happen. No matter how big or small, maritime lawyers in Singapore have the knowledge to help any size vessel brave the waters of the stickiest legal issues. While not all incidents will require the knowledge of a professional maritime attorney, the following are a few instances that shouldn’t be tackled without their expert guidance.
Accidents at Sea
Though most shipments will be transported easily and without accidents, there are times when disaster can strike and leave a ship and all of its cargo underwater. An attorney can help by filling the necessary paperwork for insurance claims and deal with any environmental issues that may result from the lost cargo. They are also able to speak …
Accidents that involve commercial vehicles tend to be more serious than those involving two cars. When a truck hits a car, it is more likely to cause severe damage or death compared to when two passenger vehicles hit each other at normal speeds. Another problem with these types of accidents is that there tend to be more than one responsible party. The driver of the truck is rarely the owner and if they are, they are more than likely under contract with another company to transport goods.
According to this Home Business Magazine article, anyone who is involved in this type of accident should make sure they obtain all the relevant information. Like any crash, the driver should record the license plate number, name of the driver and the details about their insurance. Police should always be notified of the accident so they can take a report and ensure …
In Singapore, estate owners must follow specific options to protect their assets. They need to consider the most effective strategies for lowering tax implications and prevent hardships for their family. These strategies can also prevent seizure through the probate process. The following is information about the estate planning process.
Setting Up an Irrevocable Trust
An irrevocable trust is set up as its own entity. All assets that the owner wants to transfer out of their estate are transferred to this trust. This eliminates all ownership of the asset on paper for the owner. They retain control over all assets that are transferred to the trust. When they die, the trust is given to a successor. Typically, the successor is the owner’s spouse or children.
Choosing Trust Fund Options
Trust funds are used for a variety of purposes. They include paying for college tuition and setting up financial support for family …