Asset protection provides you with a legal buffer in the event that you are sued. It protects your home, business, vehicles, investment properties and other assets.
Worried about being sued? Who isn’t in this day of age! No one wants to see you loose everything as the result of business issue. Depending on how your business is structured, debit, liabilities and exposure, it could. Good risk management and good planning can reduce that exposure.
What are the considerations?
Take into account the following :
- What entity should the business operate through?
- Who should be the directors of that entity, if a company?
- Who should be the shareholders or Unit Holders?
- Should a Discretionary Trust be considered?
- Who owns personal assets?
- What are the tax consequences of changing structures?
People often forget that superannuation and wills also provide some asset protection.
Are your assets and lifestyle exposed? If you feel you might be exposed or just want to discuss your current situation is the correct one. Book a consultation to discuss your situation today… Contact us.