Protecting your Assets and Legacy

Protecting your assets and legacy

In today’s world, change seems to be occurring at lightning speed in almost every aspect of our lives. A business’ secrets are spilled across the globe in a matter of seconds creating turmoil and huge losses and gains in the stock market. “Tweets,” 280-character messages, sway geo-political events at a relentless pace.  Styles are in, out, and then back in again within a matter of days. It can seem as if everything is always changing.

Because change is inevitable and its pace dizzying, it makes the fundamentals you apply to your asset and legacy protection strategies all the more critical. That is not to say one should be mired in one approach or way of thinking, it simply means that for most people, building a strong framework that can adapt to change yields the best results.

Being an attorney that has also both run and built businesses, I draw on personal successes and failures, as well as those of my clients, to help identify strengths and weakness in their fundamentals and help them build stable yet flexible asset projection strategies. To assess my client’s strategies, I begin many of my meetings discussing the fundamentals of their strategies with questions on a wide array of topics such as:

  • Investment Properties – Do you have the necessary protections in place to shield you from personal liability to your tenants, contractors, etc.? Do you have rental agreements that give you the right’s you need to protect your assets? Are your properties in your name or that of an entity like an LLC.
  • Business Succession Planning – What is your strategy and timeline for exit (it is never too early to start planning)? Do you want your family involved after you exit? Do your partners want your family involved? Will your business and or partners be able to buy you out? Will your heirs fight over control?
  • Estate Planning – If you left today, would your affairs be in order? Would your heirs know your wishes and what needed to be done? Would they be able to find important paperwork? Who would care for your heirs? Would the legacy you worked so hard to build pass to your heirs in an orderly and private fashion? If you were injured today and could not care for yourself, who would? More importantly, would they have the legal permission to do so?

Succeeding through change is not accomplished by luck, it is accomplished by the application of fundamentals that offer both stability and flexibility in today’s rapidly changing environment. Whether you are at the beginning or would like to revisit the plans you have in place, I can help you establish or reinforce a strategy based on your particular needs and goals.

Change is Inevitable, Success is Earned, Experience Matters!


Recent Posts

 -

While choosing a successor isn’t something that needs to happen immediately upon starting a small business, small business owners need ...
Learn More