Protecting your Assets
Asset Protection involves structuring ‘your’ assets in a way that reduces the chances of those assets falling into the wrong hands.
The most common aspect of asset protection is the concern over bankruptcy, but there are other ways that assets can be ‘lost’ of fall into the wrong hands and these include what I call the 4 disasters:
- Insolvency or Bankruptcy
- Family Law separation
Assets can fall into the hands of others when any of those events happen.
These events can affect assets that you directly own, but also assets that you might control and not necessarily own such as those held by:
- A trustee
- A company
- A Superfund including an SMSF (which is actually another form of trust).
The lawyers at Structuring Lawyers Pty Ltd have a keen interest in the area of asset protection and can advise on this area.
Please sign up to our newsletter and you can download a collection of articles written on the topic of Asset Protection by solicitor Terry Waugh.