Your Protection Plan

There are a myriad of reasons to establish Corporate and Trust structures. The major reasons being; to achieve Asset Protection and to optimise Estate, Succession and Tax Planning; and Corporate Structuring. We very briefly set out below a number of salient points on the major reasons to establish the necessary structures for you to consider implementing.


Asset Protection:

The objective is to legally mitigate an individual’s risk by ensuring that all businesses, properties, investments and or assets are owned in the appropriate Trust and Corporate structures. A Trust is the only legal entity in our country which can offer an individual total asset protection, this is achieved by virtue of the fact that a trust is not owned by any one individual.


Estate Planning:

In planning an individual’s estate the objective, as stated above, is to get the individual to own NOTHING.  This position is attained by establishing the correct Corporate and Trust structures that will own all the assets, investments, properties, commercial properties and businesses that an individual would have owned in his personal capacity.


Succession Planning:

Many owners trade as sole proprietors, in a partnership or directly own the shares in a Company or members interest in a Close Corporation. Structuring your business this way will not guarantee that the benefits accruing from their business interests will flow to the persons they intended.


Tax Planning:

Many business owners and professionals carry on and conduct their businesses in a tax inefficient manner. A number of factors will determine the ideal Corporate structure to conduct the business through.


The brief synopsis set out above must get you thinking about Trusts or Corporate structures.

 

Contact us now to get one of our specialist Corporate Commercial Trust Attorneys who are also Tax practioners to assist you in achieving your personal and business objectives and ensuring your peace of mind.