If you’re a high net worth individual then like it or not you have assets or wealth, the protection of which deserves attention and study.
Like love in a Richard Curtis movie, the many threats present in commercial and personal life, are all around.
Por ejemplo; divorce is awful for a variety of reasons but it’s effect on your business can be catastrophic. Your obligations under the law are clear, but you are allowed to take steps to protect your business from division and dilution.
Bankruptcy need not be the extinction level event that you may think it is. Assets can be protected even if your credit rating cannot. By dividing ownership and control you can make yourself a small and unworthy target.
Litigation can never be avoided. Someone, somewhere, is always going to take umbrage to something you do or say. But litigation becomes pointless if the juice is not worth the squeeze. If nothing is yours, you’re not worth the appellants time.
So, what can you do?
You can own nothing, but you control everything. That’s how old money does it and that’s how you can do it to.
You can’t stop people suing you, but you can make sure that there’s nothing in it for them.
So how exactly does old money do it?
That’s easy, they use a trust. It’s old, flexible, tough to crack and solid (a bit like that old rubber band, and both have a handy feature of securing and protecting those things they bind around).
Tomorrow you’ll start on the journey to securing your legacy using one.
All the best,
Copyrighted and published by FOAR Ltd