Asset Protection – Is it your New Year’s Resolution? If not, you should make it one!

Posted on by Mark Fernandez

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By: Thomas Henn

Are your assets adequately protected against any potential ‘rainy days’ ? Thomas Henn, Senior Taxation & Commercial Lawyer at Murfett Legal has written an article on what to keep in mind when implementing an effective asset protection strategy.

We all make New Year’s resolutions. Some common ones might be…

Few of us consider making a New Year’s resolution to ensure that our assets are protected from creditors, but it is something that we should definitely turn our minds to.

There are many recent examples of apparently successful businesses failing, and people can “fall on hard times” through no fault of their own. Often, the difference between losing your assets in circumstances such as this, and retaining most of them for the benefit of yourself and your family is having those assets held in an appropriate structure.

The New Year is a great time to sit down and consider what assets you and your family control, and how to protect them should the worst happen.

The biggest asset protection mistake is waiting too long!

If things are already starting to “go bad” for you or your business, it is often too late to fully protect your assets.

The people that derive the most benefit from their asset protection strategy are those who put it in place as early as possible.

There are many things you can do.

These are only some of the things you should consider.

Murfett Legal are experienced at putting structures in place to ensure that the assets controlled by you and your family are protected and transactions are structured and documented in the right way.

Please contact us to discuss the strategies required to suit your particular circumstances.

(c) Murfett Legal 2015 – All rights reserved

About Thomas
Thomas has over 20 years’ legal and tax experience, gained in Germany and Australia in such diverse roles as Civil Law Lawyer in Germany and Tax Accountant, Tax Lawyer and as an Academic Lecturer in Australia.

Thomas is an internationally recognised Tax Specialist (Chartered Tax Adviser “CTA”) with a Masters in Taxation Law and a Trust and Estate Professional (TEP). Thomas’ experience is founded on his law degrees from Germany and Australia and expanded and solidified in Australia working in accounting, academic, business and law.

Due to his work as a company director, lecturer in taxation and trusts, a lawyer in Germany and Australia, Thomas has developed a very practical, yet technically astute, approach to his clients’ objectives and legal needs and he provides a value-orientated, results-focussed advice on all the issues facing his clients.

Thomas’ main areas of work are:

www.murfett.com.au

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