Adviser Masterclass Series: Structuring for Succession – Who owns what?
What is Asset Protection?
Asset Protection is a means of using business practices and structures to create barriers between your assets and the risks faced by your business or yourself. It’s part of an insurance strategy to make sure that everything you build is protected.
- Why would I need an asset protection strategy?
- Who is at risk and what are we protecting ourselves against?
- What are the sources of potential risk?
- What is the most effective form of asset protection?
- When is the right time to start thinking about an asset protection strategy?
Asset protection is about creating financial structures and implementing business practices that are designed to protect what you own and what you earn from creditors and predators. It requires a new perspective – one that you may not have considered before: creating wealth through your business and investments is only one half of your financial strategy, the other half is about structuring your financial affairs so that your assets are protected for the long term.
Essentially, asset protection is a method of insurance. It creates a barrier between your assets and your risks, so that your assets are protected. This is achieved through the use of strategically planned business structures in conjunction with appropriate insurance products and legal protections.
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"Creating wealth through your business and investments is only one half of your financial strategy, the other half is about structuring your financial affairs so that your assets are protected for the long term."Click to Tweet