What Is Asset Protection?
Asset protection is a well laid out plan that enables you to safeguard your hard earned wealth against any person or entity that could possibly lay claims against it. For example from a disgruntled customer, supplier or employee. Often, this is done by setting up the right structure for a business for example setting up a Proprietary Limited Company, converting the assets into a trust, and other strategies. This keeps the wealth out of the local courts jurisdiction.
The best way to maximise an asset protection planning is to make sure that you start the plan when your business is set up so that you are protected from the beginning. If you already have a business up and running we can look at the best structures and undertake a plan to protect you. To have a successful asset protection strategy and plan, you should be focused on your objectives. This means that you should be aware of what you want to achieve and what risks you may be exposed to. This will help you to come up with a unique asset protection strategy and plan that has been well thought out.
People have different goals, opportunities and assets. Because of these variations there is no single asset protection planning that will work for everyone. Leenane Templeton will work with you to evaluate all the factors and design a tailor made asset protection strategy and planning that will work for you.
Whatever your asset protection strategy, it is also important that you follow the law to ensure that your assets are safe and secure. This will give you peace of mind and help you avoid any inconveniences later.