Checklist on Delays for Asset Protection

Some reasons include:

  • Busy - We’re just too busy – we’ll have a look at it later on.

  • Old - We’re too old and we really have left it too late to put this type of planning into place.

  • Young - We’re pretty young at the moment so we have a lot of time to worry about putting in asset protection later on closer to retirement.

  • Not Enough - We don’t have enough in the way of assets to warrant the cost involved in setting up an asset protection plan.

  • Tax - It doesn’t matter what we do – the Tax Department will take the tax that they want anyway – whatever planning is put in place.

  • Accountant - My accountant doesn’t see the need for asset planning at all.

  • Control - My lawyer says that if I put in asset planning I’ll lose all control of my assets and that’s not what I want.

  • Friend - My best friend, who is an astute businessman, said it is not necessary for me to protect my assets or to form a trust. He thinks I should leave that sort of thing to those who are multimillionaires.

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