Protecting your assets

What to consider to protect your assets

Because building your assets takes time, effort and money, it’s vital that your assets are protected right from the start. In order to protect your accumulating wealth and assets, consider having a risk management strategy in place before you purchase your first home!

 

Physical assets

Too often we hear of the terrible tragedy that befalls some people when disaster strikes and a property is not insured, or is minimally insured. For home owners and investors it’s so important to have building and contents insurance, good door and window locks, and a quality alarm system. If you’re an investor, having landlord insurance is a must.

Always do your research for a quality insurer – it’s not just about paying the lowest premium, but about how well the insurer will look after you if disaster strikes.

 

Legal protection

You may want to discuss with your trusted accountant or lawyer the most suitable structure for your situation and circumstance. Is the most suitable structure for you to purchase a property in your own name of in a company/trust structure? Once you’ve made a purchase and want to change the entity, it may be very expensive to do so.

If you have assets and accumulated wealth, you’ll want to pass them on as you see fit when you die. Having a good will in place is important if you want your wishes to be fulfilled.

 

Your most important asset – YOU!

Have you considered how you’ll pay your loan commitments if you become terminally ill, suffer a medical trauma, become disabled or unemployed? And how will your family manage the day to day expenses and loan commitments if you die?

A quality caring and independent financial planner will be able to assist you now so that you can have peace of mind in the future.