Asset Protection Checklist.
Unsettling times can raise concerns about the security...
Asset protection services in Brisbane
Giving your assets a hard shell for the future.
- Forming and maintaining plans for your comfortable retirement
- Protecting you from risk
- Offering you ongoing support and advice
You want a comfortable retirement. We all do. Whether you actually get there, or whether you get there smoothly, is all down to good planning. We’ll help you secure your wealth by imparting our years of knowledge and skills in asset protection to help you form solid plans.
Business asset protection strategies
Many business owners are extremely busy doing what they do best – running their business. Often this means that they don’t adopt appropriate strategies to minimise the loss of well-earned assets. Without realising, owners could be potentially exposing their assets to risk, via trading or third party threats. Some business owners are also more vulnerable because of the industry they are in.
Ongoing planning and advice from our asset protection strategists can reduce or eliminate this exposure to risk. Essentially, we’ll help you give your assets that hard shell they need.
Asset protection is all about managing risks to both you personally and to your business. When considering if asset protection strategies are necessary for you, ask yourself some very simple questions:
- Do you believe you have adequate personal insurances in place for your business and your family?
- If you do believe you have adequate insurances do you know the amount the policies would pay out, who owns them and when they pay out?
- Are you at risk of being sued personally?
- Do you hold a significant dollar value of assets in your name?
- Do you have an up to date will and enduring power of attorney to protect your assets in the case of death or incapacity?
- For your business have you considered what strategies are in place to protect your business if something goes wrong?
Review our asset protection checklist to get started.
How we can help you with asset protection
Our specialists can help you with
- Personal asset protection reviews
- Business asset protection reviews
- Structure risk reviews
- Business risk reviews
- Business risk planning
- Restructures – removal of personal assets to protected entities
- Equity strategies – removal of equity from trading businesses to protected entities
- Risk Insurance reviews
- Monitoring – of risk plans and asset protection strategies
- Estate planning – incorporating testamentary trusts and enduring powers of attorney to ensure your assets
go to the correct people and entities owned by you are left in the control of the right people
Asset protection professionals we work with
The nature of asset protection often requires us to work closely with other professionals such as specialist asset protection solicitors and risk insurance specialists. We are more than happy to work with your own trusted advisors or alternatively we can provide you with a referral to an experienced specialist.
This content has been prepared to provide you with general information only and has not taken into account your personal objectives, financial situation or needs. It does not contain and it is not to be taken to contain Personal Financial Advice. Before making any financial or investment decisions, you should seek advice from an appropriately licenced or authorised financial advisor.
The content was prepared by UHY Haines Norton. AFS Licence No. 483056
Asset Protection Accountant in Brisbane
Asset Protection FAQ's
Asset protection is a lawful concept that involves taking steps to protect assets from creditors, lawsuits, and other debts. This includes protecting assets through trusts, companies, and other legal entities, as well as taking steps to reduce potential liabilities and limit creditors’ access to assets.
Asset protection is designed to protect your assets from creditors and other claimants. It involves using lawful strategies to limit creditors’ access to your assets, such as setting up a trust, forming a business entity, or transferring assets to family members or friends. Asset protection can help reduce your financial risk, protect your assets from creditors, and provide financial security for your future.
Anyone who has accumulated assets such as property or investments, or who has a large income or estate, may need asset protection. This includes business owners, professionals, entrepreneurs, and wealthy individuals. Asset protection can be used to safeguard assets from potential creditors, reduce taxes, and provide financial security for the future.
Asset protection is a way to protect your assets from being seized by creditors or other claimants. Asset protection strategies can also help you reduce the amount of taxes you owe and protect your assets in case of any legal action.
Businesses typically use a variety of strategies to protect their assets, including, purchasing liability insurance to cover potential losses due to negligence or accidents. Keeping accurate and thorough records on all financial transactions to ensure assets are properly accounted for. Setting up a trust or other asset protection plan to shield assets from creditors, diversifying investments to reduce risks from any particular investment or market.
The best business structure for asset protection in Australia is a company limited by shares. This type of business structure provides the highest level of asset protection, as the assets of the company are held separately from the personal assets of the business owners. The company’s assets are also protected from the personal liabilities of the company’s owners, making it the ideal structure for asset protection.
