51: (Part 2 of 2) Claire Nazar Director of Kalco Law And LifeBuilders.com.sg: Find Your Balance Between Work And A Successful Marriage

FWEP00051 Claire Nazar Today, we have a special guest her name is Claire Nazar, director of Kalco Law and also Lifebuilders. Claire is a very down to earth lady and because of this I want to guest her story out there and share it with you and I hope that you like it.   DIscover your calling and be passionate to achieve it! Your calling is where you can apply your talents and where you feel you can help on other people. Fulfill your calling outside your comfort zone. Ms. Claire shared: (01:15-01:44) Yes I had a lot of family time. But I was also struggling with the fact that I didn’t feel fulfilled personally. Yes, none just basically going to job 9 to 5, feed the family but I don’t have a sense of personal achievement and that was when, you know, my husband was saying to me, have you thought about just coming out and starting up your practice in the way that you would like it to be and so I did a bit of soul searching and that’s why I joined Kalco Law LOC so we are 5 directors.  (01:52-02:15) She’s for the very poor family lawyer even though she does the divorce work but she’s for poor family offices, very very poor family. Sometimes her kids will come over to work, we bring them to work so stuff like that so we have a very family friendly environment and that’s when I started thinking about what I really wanted to do?  I mean with my legal expertise in which what I really wanna cover?  (02:16-03:00) I thought about all the mitigation cases I had. They always involved follow ups between directors, company directors and usually they start of as friends. Friends who then say,  we’ve got a dream, great idea, less pump of money they start a business and the next thing you know  they are arguing and suing one another that’s why I come in. So I was thinking instead of damage control, why not prevention? Just as same reason seek passion why education work is simply because I think prevention can help. You can help couples prevent themselves from  going the wrong road. I’m sure we can also prevent in the area of business, you know, young start-ups entrepreneurs form going down the wrong road.  Why documents are important? Documents create a good relationship and will avoid conflicts that may happen in the future. Ms. Claire mentioned why documents are important mostly in business. (03:31-04:12) Well the very first line of the bed is you got to really know the person you are dealing with. Check out their friends, check out from your business contacts that this is person is trustworthy that’s one thing. And the other thing I must say is more of a no no. Don’t deal with somebody who’s not willing to sign a contract with you, black and white. If they discuss terms of business on how we gonna run things right in the beginning. In my experience is that why I end up defending my clients in court or suing the other side on behalf of my clients is usually because of contract.   (04:42-05:11) So to me is this if a person takes offense in you drafting a contract that’s already a signal, a red flag that should go over and say no, no! Because if you are forthright as a person you shouldn’t have any problems making good on you wordly promise and of course you are entering a business where you are entering into a legal relationship. There should be a proper way for you to exit from the company. Proper way for you to assess how your profits should be split.  (05:53-06:10)  A document is important because everything that’s in there is exactly what you agreed. You can check the terms just to be sure. Is this what we have agreed on, if it’s not? Then you should talk about it before you signed on the dotted line so that when you sign it you can say this is all we have discussed.  Ms. Claire shared her vision and her belief as she continues to help married couples. Ms. Claire shared: (07:24-08:02) I would say that there’s no harm in actually going to see a lawyer for consultation and before you see a lawyer for consultations, ask the lawyer or the law firms how much does it cost. Just say, you know, how much the charge. Different law firms charge differently so you can get people who charge you maybe 300 to 500 or base on the lawyers’ experience they will charge according to the charge at rate for one hour but I always tell people, look usually if you have an idea on what you want to do for your business you probably don’t need more than 1 hour of lawyers’ time.  (09:02-09:38) What happened was that, my client, actually ask me to draft some terms, extended terms and conditions in which I advise and look, you gotta be entering not just one contract  you can be entering into several contracts and of course like your own company’s master template so what happened is that, he closed a deal with one client, with one of his customers and his customer referred another customer to him. Now when he sent the extended terms and conditions contract over the first thing that this company said was I want to deal with you because I can see you do things properly. (09:40-10:05) You are credible because of the fact that your contract, I can see, is well drafted so my client then gave me feedback and said Hey, thanks so much. I know this contract you drafted like a few times over, a few months ago but because he was doing regular business and he was just entering and giving this contract to his clients to sign, this is the first time he had gotten a big deal, closed a big deal. (10:44-11:12) Get staffing contracts if you gonna have staff then get staffing contract that will be necessary. Also, we need to look at the nature of your business. Are you dealing with a lot of suppliers? Are you a distributor for some product? We need to see what are some contracts that you will need. Now obviously right from the right goal, you make sure that you have a business agreement drafted up  between your partners whether shareholders, depending on what kind of company set up or corporate set up you have business entity that you have. (11:34-11:42) A lot of these disputes can be settled if you have agreed right from the start, in shareholders agreement, in business partnership’s agreement what you are looking for.(12:46-13:22) If the parties are reasonable and they are able to talk it through then of course, we will get them to sign a settlement agreement because by that time there’s a follow up and you probably will not have had a proper business partnership at the start all you could have but not nothing has changed and parties want more or less so that’s where we would draft up a settlement agreement  and show that the parties, they part nicely on whatever agreed terms they had and one of the key things is to make sure your settlement agreement that you keep things confidential.  (14:55-15:37) That’s always a possibility. We’ll see how that develops but of course my vision in my own personal life is really the same motto as my marriage certification program which is the tag line which is Successful Relationships, Successful lives. I think as you know litigation is usually a break down of relationship and they kind of agree with things so they have to fight it out in court. In our own lives it doesn’t have to be in a marriage situation just even in work or anywhere that you have people you cared about,...