Properly structured and managed, asset protection will let you sleep well, even if you are faced with litigation or bankruptcy.
Litigation can occur unexpectedly and from many sources. A dispute with a business associate, a run in with the Australian Taxation Office or a Council, difficulty with a bank or supplier or an OH&S prosecution, a claim against a director can all lead to court proceedings and risk of financial loss, even if you “win”.
Good asset protection requires advice before there are any difficulties or issues. It requires time to become effective. It needs appropriate business structures, certain attitudes and habits, insurance if appropriate and the the cooperation of persons you trust.
Asset Protection should be considered together with Business Sale and Succession Planning
Call Us to book The First Hour, to get an assessment of your asset protection needs and written advice for $440.
- Identifying Business Risks and Developing an Asset Protection Strategy
- Choice of structures for holding business assets and distributing income
- Getting your contracts and business documentation right
- Putting a proper process in place for all business dealings
- Minimising employee and OH&S litigation risk
- Ensuring compliance with legal requirements for privacy and confidentiality
- Setting up your business records to help with your asset protection
- Having a litigation avoidance plan
- Using insurance and outsourcing to reduce business risk
- Avoiding successful claims and clawbacks by bankruptcy trustees