As part of our business practice, we frequently need to assist our clients with planning for their future and to protect assets. Sometimes the assets we work to protect is their large investment. Sometimes they are as simple as a house or a bank account. Most often, the asset we work to protect is the business itself. Shareholders don’t want their own family issues or those of other shareholders to interfere with a growing enterprise.
Real Estate Protection
For example, we know that a lot of parents are either gifting money or lending money to their kids so that they can purchase as a house. But what happens if a child refuses to return the money? Or what happens if the child passes away? Or what will happen if the child decides to get married? With proper planning, there are ways to protect the asset. At each stage, a different document may be required.
As another example, if you have growing business and you are looking for other investors. You’ve a negotiated a great deal to have a new investor on board. However, because of your own family issues, there is an issue with your ownership of shares. Now, without having protected this asset, you may potentially lose your investor.
There are also other situations that you may wish to protect assets including:
1) You have a growing business and you don’t want it be interrupted due to family issues;
2) It’s your second marriage and you don’t want to loss more assets if you go through a second divorce in one day;
3) You invested more into an asset than your spouse or investment partner;
4) You have multiple children from different marriages;
5) You have assets overseas.
Ask us about our asset protection plans.