Are You Absolutely Sure Your Assets Are Safe?

Unfortunately, Australia is rapidly following the ridiculous ‘litigation happy’ path of the USA.  In very shallow terms, this means that anyone that wants to, can sue anyone else for some technical minor detail and claim compensation.

So, the more you own and are worth, the more attractive you might be to another unscrupulous party.

The premise of Asset Protection is to “own nothing” but “Control everything”.  That way, if someone wants to see how much you are worth via the legal system, you don’t actually own anything, are not worth pursuing.

Using Trusts To Manage Wealth And Risk

A trust is a simple entity that is widely used to hold assets on behalf of another person or entity.

It is a very old concept, dating back centuries and has its own laws and tax rules.  It used to be reserved for the very wealthy and aristocracy but in recent times, has become accessible and very widely used for everyday investors.

There are different types of trusts and they can be used in different ways, so a discussion with you will be necessary to learn how best to tailor a solution to your needs and budget.

When Is The Right Time To Discuss Asset Protection?

The best time is always before buying or developing an asset.  It will depend on who you are, what you do, what the asset is and the risk associated with it.  Of course there are professions that should always consider asset protection like medical professionals and anyone in an advisory role.  But increasingly, everyday property investors are wise to consider asset protection.