An essential consideration of protecting business assets is to ensure that the correct business structure is employed, including companies, discretionary or unit trusts. Determining an appropriate buy sell arrangement, partnership or shareholders’ agreement is often required.
Don’t let others erode your wealth
In respect of personal assets, and planning for their estates, clients often express a concern that assets that are to be gifted to their children may be at risk through relationship and marital break-ups of their child. The gifting of assets to the next generation has to take into consideration the risk profile of the intended beneficiary, including personal circumstances, profession or occupation and involvement in any business enterprise.
There may also be a need to protect a vulnerable member of the family who is suffering from a disability, mental illness or some form of addiction.
Asset protection strategies aim to protect your wealth from the possibility of future financial setbacks through business or professional activities. It also involves appropriate strategies to protect assets for future generations. Contact us today to learn more.