KEEP YOUR BUSINESS AND FAMILY ASSETS SAFE FROM COMMERCIAL CLAIMS
Asset Protection is a means of organising your business structures with the specific aim of protecting your assets from creditor’s claims. Individuals and business entities are formed to limit creditors access to valuable assets such as your family home, motor vehicles and essential plant and equipment essential to operate your business.
It is strongly advised that effective asset protection strategies be established before a claim or liability occurs, since it is usually too late to initiate any worthwhile protection after the fact.
Consideration should be given to separating the operating entity of the business from the assets holding company of the business. The Director of the operating entity should only be the person responsible for the operation of the business and must not be a Director or Shareholder of the asset holding entity.
It is strongly advised to discuss the restructuring of your business for asset protection purposes with a highly experienced business management Accountant.
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