My Business Magazine July (2005) - Succession Plus

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My Business Magazine July (2005)

Asset Protection

My Business Magazine July (2005)

By , February 11, 2015

Creating wealth through your business and investments is only the first step of your financial planning strategy. Once you have created the wealth you need to structure your financial affairs so that your wealth is protected.  Barriers in the form of business practices and structures, need to be implemented to protect your wealth from risk. There are six ‘barriers’ you can use; owning nothing, quarantining your assets, identifying appropriate structures, creating the ideal structure, having adequate insurance and legal protections. All of these measures help protect your wealth over the long term.

Craig West

Craig West

Managing Director | Succession Plus

Craig West is a strategic accountant who has over 20 years’ experience advising business owners. His background as a CPA in public practice, provided invaluable experience in the key issues of concern to business owners. Following 6 years of study to gain two masters degrees, Craig focused on Capital Gains Tax (CGT) for business sales advising on strategic management of tax issues. This experience formed a very strong view that business owners (and often their advisers) were unprepared and unaware of the steps required to prepare a business for exit.

Craig now acts as a strategic mentor for mid-market business owners and has written four critically acclaimed books on employee incentives, succession planning, asset protection and exit strategies. Craig has conducted numerous seminars and keynote presentations throughout Australia & internationally, including adviser education programs for the Institute of Chartered Accountants and CPA Australia.