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Who owns what asset and what that asset is worth is great when you are bragging to your friends. However, did you realise that the number of court cases, in all areas of law, filed each year is on the increase?
Even though you think you may never have a court case against you, you never know what is around the corner. Accordingly, it is more imperative in this day and age to protect yourself from the unknown. That is the very reason that we have insurance policies.
As the Scouts motto says “Be Prepared” and that has never been truer but it does not just apply to things like camping, it can apply to every aspect of your life including who owns the assets that your family uses on a day to day basis.
If you are a Director of a company, even though the company is limited by shares, there are more and more laws and contracts that can pierce the corporate vail such as Director Penalty Notices, Personal Guarantees etc . So why allow someone else to control the outcome of a situation because you are scared of losing everything. What would you have done differently or how would you have handled a situation differently if you had known that you had nothing to lose?
This is where a proper personal asset structuring can help you. We look at the best way to structure your assets starting with holding an asset in a Company structure all the way to selling your share of the asset to someone else and then leasing it back. There are many different structures to utilise but unless you are working for wages in a low risk industry, we rarely advise someone to hold major assets in their personal name as there is just too many unforeseen issues that could go wrong.
Book an Appointment with us today, to see if we can structure your assets in a better way to give you the peace of mind that the assets are not going to go anywhere unless you are wanting to sell them.