Asset protection solutions.
How can an accountant help me protect my wealth?
As a business owner or investor, you’re aware of the many challenges that can arise in the course of running a business. From financial difficulties to legal disputes, there are countless ways in which your business and personal assets can be put at risk. Regardless of whether you’re just starting out or have been in business for some time, you must take proactive steps to protect your assets.
Adequate asset protection can make all the difference in whether your business survives a crisis or succumbs to it. By implementing a comprehensive asset protection strategy, you can minimize your exposure to legal liabilities, safeguard your assets from business-related risks, and ensure the long-term viability of your business.
Our solutions.
Risk Audit
To start with, we must analyse any currently exposed risks. These include creditors – business or personal, possible lawsuits or the ending of family or business relationships
Asset Review
Review all assets, location, ownership, risk profile, and debts to ensure all assets have been accounted for.
Structure Review
From an asset protection perspective having the right business structure is crucial. Having this in place before you start a business is preferable, however, we have strategies to re-structure existing structures.
Implementation Plan
We will work with our preferred legal team to implement the recommended asset protection strategies.
Protect what you’ve worked so hard.
Protect your wealth - FAQs.
Asset protection refers to the legal and financial strategies that businesses use to safeguard their assets from risks, such as lawsuits, creditors, or financial losses. As a business owner, you need asset protection to mitigate potential legal liabilities and to protect your personal assets from business-related risks.
There are several asset protection strategies that business owners can use, including:
· Incorporating your business to limit personal liability
· Establishing a trust to transfer ownership of assets
· Purchasing liability insurance to cover potential losses
· Using asset protection trusts to shelter assets from creditors
Asset protection planning is not the same as tax planning, and it cannot be used to avoid paying taxes. However, some asset protection strategies, such as using trusts, can help minimize your tax liability by transferring assets to beneficiaries in a tax-efficient manner. It’s important to consult with a qualified tax professional to ensure that your asset protection and tax planning strategies align with your overall financial goals.
“Prosperity Accountants assisted me in changing from a partnership to a dual company structure to reduce my risk to creditors and protect my personal assets.”
R & J Marinich
Let us help protect your assets and wealth.
We will not try to sell you anything.
We will discuss your existing problems and challenges.
We will establish how we can work with you to overcome those challenges.
We will establish if we’re the right fit for each other.
And more....
