Why you need to protect your wealth
If you’ve worked hard over the years building a business, paying off your home and investing in other assets, you don’t want anything to put that at risk.
So what would happen to your assets if you lost your job or your business hit the skids?
To deal with this possibility, you need to protect your wealth. In other words, protect your assets. This means that they’re safe from creditors in the event of insolvency, disability or divorce.
And one way you can do this is by establishing a Trust
What is a Trust?
A Trust is a legal arrangement, which is similar to a company.
It involves a person (the settler) transferring the legal title of assets to another person or body (the Trustees) to hold for the benefit of one or more persons (the beneficiaries), which may include the settler.
The benefits of establishing a Trust
There are three main benefits of putting your assets into a Trust…
When you put your assets in Trust, you distance yourself from them. So in the event of a creditor suing you in your personal capacity, the assets in a Trust are safe as they don’t belong to you.
By establishing a Trust, you can separate your personal assets from your business assets. And over time, you can protect all your assets from creditors.
A Trust is cost effective to run.
If you want to establish a Trust, speak to a Certified Financial Planner.
So there you have it, three reasons why you should hold your assets in a Trust.
*********** New release ************
Achieve financial independence one income stream at a time
I’m a big believer in financial independence. I don’t want to be dependent on anyone or any institution to take care of my family or me in the future. Having one source of income is very scary to me. If that stream of cash dries up – for whatever reason – I want to know that I have other cash streams I can tap into.
When most people think of extra income they think of athletes and actors who get endorsement and advertising deals.
But the truth is that anyone can create extra income streams.
You don’t need well-placed connections. You don’t even need to be especially smart.
All you need is the willingness to invest a little extra time in learning about your options – and then invest a little more time and some money pursuing them.
That’s why I started this publication – Because I want to show you how to create multiple income streams for yourself.