Recognizing Threats Protecting your assets and earnings is key to successful value building. Owners of family-owned businesses and professional practices often need help planning and implementing protection strategies. An assets and earnings protection plan needs to consider many potential threats.  It is sometimes confusing to figure out “what works” and “what doesn’t." Don't be misled by promoters who are pitching their “100% bulletproof” strategy or who promote assets protection as a tax avoidance scheme. Such schemes don't work and are almost always illegal.

Team Work Successful protection planning begins by identifying which assets and income streams may be vulnerable to attack. Next, you need to consider which tools can be used to protect these assets and incomes. For example, the degree of protection may depend on the choice of business entity, such as corporations, partnerships, and hybrid entities such as limited liability companies. Sometimes the company may be organized into more than one entity to provide greater protection. But protecting value includes much more. Sometimes your most valuable (and often overlooked!) assets are intangible. Failing to recognize and protect the value of intangibles may result in the loss of value. Value may be lost if property or data is destroyed, stolen or becomes obsolete. An assets protection plan should consider insurance coverage, internal controls, company policies and  produres, automated, off-site data backup, data incryption and redundancy. Failure to comply with governmental and other standards and requirements can also destroy value. Carefully designed and maintained compliance programs can help protect against such losses.

Because asset and income protection is complex, we believe that teamwork is key. We work closely with our clients, attorneys, insurance providers and other consultants to build a team that will provide the best possible protection. We would value the oppotunity to discuss how we can help you buid and protect value!