Asset Protection Strategies
How would you feel knowing, all the hard years of work spent to acquire your entire asset wealth is not protected without an adequate structure?
At Austax Accountants and Advisors we ensure when establishing or restructuring a holding or trading entity taxes are not the only paramount consideration. A more important consideration than taxes is asset protection. What is the benefit of saving tax if you cannot protect your asset in the case where claims against you were unexpected? e.g. divorced spouses, recalcitrant relatives, wind up of business instigated by a frivolous workers compensation insurer or creditor.
How Can We Help?
- Separating Assets At Risk: The business is held in a trading entity while business assets held in a holding entity and then hired back to the business.
- Provide advice on the various investment and business structures, restructures, strategies and tax consequences to ensure all personal assets and family home have limited exposure to any business failure.
Every Family wants to protect their hard-earned wealth, be it a business, investments or the family’s personal assets and home, from the reach of others.
- Setting up tax effective structures – companies, family trusts, hybrid trusts, bare trusts, self-managed super funds and partnerships for asset protection purposes
- Mitigate risk for high risk professional e.g. medical professionals and consultants through various structures for personal and business assets.
- Review, assess and implement a structure for each new business venture and ensure it does not create a domino effect to the entire business risk.