ASSET PROTECTION
Protect Your Assets
Are you at risk of losing your financial assets with inadequate protection?
Sound asset protection strategies minimise the risk of losing your financial assets in life as well as death. But why is it necessary to rethink asset protection when you’ve already been through this with your adviser?
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At OBT we see six areas in which you could be exposed by not having proper asset protection:
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1. Litigious society – Better information about our legal rights and the ease of taking legal action creates a greater likelihood of being sued
2. Business owners need succession plans – As you move toward retirement or a succession phase, separate your business assets from your personal assets
3. Marital breakdown and mixed marriages pose many questions, but remain unclear what the rights are.
4. Changing, complex tax laws may mean deficiencies in business structures which have significant tax impacts.
5. Insurance company reluctance to pay out claims, and
6. Business bankruptcy on the rise
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OBT Accounting & Tax on Bribie Island puts in place comprehensive checks and measures to ensure your asset protection strategy is thorough. It is crucial that the correct choice of business entity is made. Usually done in business start-up phase, or if your business has already commenced trading, we complete a business entity review to ensure your business and personal assets are protected before any possible financial difficulty or litigation proceedings are even contemplated.
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Choosing an appropriate business entity depends on numerous factors such as tax implications, complexity, or cost and benefits to be obtained.
Asset protection is just one part of OBT’s Building Blocks© for organising your business and personal financial affairs.
If you do not have time to visit us that is not problem, we offer an online meeting option using Zoom Meetings. These Meetings are easy to operate and it means you can access us face-to-face from anywhere in the world on any device.
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Can't make a meeting during our normal working hours, no problem, just call one of our helpful team on 07 3408 3444 and we will do our best to accomodate your needs.