Asset protection strategies
Setting up an asset protection trust business structure can help to protect your assets or limit your liability – regardless of how big or small your business is.
Many people incorrectly believe that asset protection trusts are just for large enterprises, big business owners and wealthy people, but their benefits can also be utilised by almost anyone and any size of business, as everyone needs to ensure their assets are adequately protected.
Greenhalgh Pickard’s business accountants on the Sunshine Coast take pride in keeping up-to-date with the latest changes in the ever-changing trust laws to ensure the advice you receive is always current. In combination with the in-house experience in insolvency law, the team’s ability to tailor superior asset protection strategies is unsurpassed – regardless of whether you have assets that are low in value or you need more intricate trust protection solutions for larger asset bases.
Andrew Patrick, John Greenhalgh, and Bryan Pickard are Sunshine Coast accountants and solicitors experienced in the field of asset protection. Andrew, John, and Bryan each have a wealth of experience specialising in various accounting and legal areas which ensures a well-rounded approach to your asset protection needs in which all angles are considered to provide the best asset protection package tailored to your needs.
Setting up a legal trust
If you operate your business as a trust, the trustee is legally responsible for its operations. Because the trustee can be a company, this can assist in providing personal asset protection.
Setting up a trust requires a formal trust deed that outlines how the trust operates and administrative work that must be undertaken each year.
Another benefit of trusts, if set up and managed correctly, is they can reduce tax rates through the ability to distribute income to beneficiaries on a much lower, individual tax rate.
If you need advice in the area of setting up a legal trust, including advantages and disadvantages compared to other business structures, call (07) 5444 1022 today.
Greenhalgh Pickard’s asset protection experts
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