Are you in business and concerned that your personal and/or business assets may be at risk?
If you are not concerned, you should be.
Business owners in Adelaide and South Australia, particularly in these tough economic times, are under constant threat from competitors, disgruntled employees and the regulators.
The importance of protecting your assets, both personal and business
Asset protection should be a priority for everyone in business, whether those assets are owned by the business or held in your personal name.
It is a fact of commercial life that business activities involve risk and the possibility that both business and personal assets may be subject to attack.
How we can help
We advise our clients on how best to protect and quarantine those assets from risk.
A very simple example is to protect your family home from threat as a result of liabilities that may arise in your business activities.
We can ensure that, as far as possible, your family and personal assets will be protected.
We will assess your circumstances, consider your options and put in plan a strategic plan by:
- identifying the assets that you wish to protect
- identifying who owns the assets you wish to protect
- identifying the assets that are at risk (such as business and investment assets)
- identifying potential risks
- implement strategies to reduce risk
Some of the specific services that we offer as part of our asset protection service include:
- the proper establishment of corporate structures
- securing assets
- advising on personal guarantees
- preparing terms of trade for your business
- conducting a legal health check of your business
- ensuring all relevant insurances are in place and cover all possible risks
- considering business succession issues
- advising on director’s liabilities and responsibilities
- protecting your intellectual property
- identifying risk management strategies
- considering and ensuring general legislative compliance
We have developed a Legal Business Health Check which is the perfect tool to utilise when implementing your asset protection strategies.
If at risk business and personal assets are required to be transferred to non-at-risk individuals or entities, we are able to document such transfers as we provide comprehensive conveyancing services within the firm. Assets could include land, shares in a company, an interest in a trust, vehicles and other personal estate.
What you must do
If you’re in business, you’ve got to put measures in place to protect your assets, particularly personal assets.
If you are concerned about how you’re set up, or you are faced with a very real threat to your business and assets, we urge you to call us before it is too late. Timing can often be critical.