Asset protection planning is the process of organising one's assets and affairs in advance to guard against risks to which those assets would otherwise be subject. That is, arranging one's assets beyond the reach of "possible future creditors". It does not involve hiding assets but instead works to protect those assets. It is not used as a means of defrauding creditors. A hidden asset may be found but a protected asset is a more secure one.

Asset protection planning can be likened to one leg of a three legged stool, the other two being estate planning and financial planning. It is often referred to as the life time side of estate planning. Integrating all three components provides for life time asset preservation, tax mitigation at time of death, the smooth transition of property and ensuring the deceased's wishes are followed. Co-ordinating an estate plan with asset protection permits clients to take advantage of estate planning techniques while protecting assets from creditors.

The notion of asset protection planning in advance cannot be stressed enough. Since this type of planning generally involves the transfer of assets from a less protected to a more protected asset protection vehicle, everyone involved in the plan must endeavour to avoid establishing a protection plan after the client's assets have been attacked.

The ultimate goal is to win the game. Proper planning will create a series of hurdles that an opponent must clear and it must ultimately work because it is legally sound. It should:

It is most effective when done before a problem arises. The ideal plan is one in which many years after the planning is undertaken, the client laments the fact that the asset protection plan has never been challenged. Just like insurance is a hedge against certain losses, proper asset protection planning may enable a family to protect its resources.

As a successful business owner you know the importance of working with experienced professional advisers. Our unique Partner Access Program ™ provides access to these specialised resources. It is a support system where the advisers understand the integrated estate planning process, using estate planning techniques while protecting assets from creditors