FAQ's - Protecting Assets

Insurance is part of it, and adequate levels of insurance are important, but protection is broader than that. It includes how items are owned, who controls the ownership, how financial arrangements are organised and taxation considerations.

Definitely not. Protecting the business by extension means protecting you personally. For instance, if an action against the business means it must shut down, your ability to make a living can be compromised.

Broadly speaking the entity that trades should be separate from the entity that holds assets. And to take that one step further, there should be different directors and shareholders.

When it comes to protecting assets, both of these options offer little to no protection. A company with a shareholding trust is close to ideal. But it isn’t for everyone.

Yes. Ensuring you have a valid, current will is important not only to make sure your assets go to the right people but to also help avoid disputes at a difficult time. Speak to your family, make them aware of your wishes.

No. Regularly review coverage, amounts and exclusions to make sure you’re not left short should you need to make a claim.

There’s no absolute right. It’s more about the structure and organisation of assets being appropriate. Contact Us if you would like to have your structure reviewed.