Most average investors dedicate a lot of time to finding and analysing property deals. Their next focus is on maximising returns on capital invested and rental income. However, they spend little time, if any on protecting the latter.
Like the old adage goes, "It is easy to make money, but it is difficult to keep it". By incorporating effective wealth protection techniques into your investment strategy, you are surely on the right part to protecting your wealth. What's more, in the event of a rotten divorce, malicious lawsuit, or government intervention, your hard earned wealth will remain outside the hands of these three, once a good wealth protection technique is used.
Setting up and LLC is one of many techniques you can use to protect your wealth from those who are after it. Many inside investors like Donald Trump, Richard Brandson and Samuel Zell used LLC to protect their wealth. It is a shame that only a few movie stars, footballers and other sports stars used LLC, especially in the event of divorce. With LLC's creditors cannot put a charge against your assets, particularly if the right clauses are inserted. Your legal advisor should be able to give you more guidance on this.
Also, if your LLC is registered in a country outside of where you live/domicile, then it makes it more difficult for the courts to grant a claim against you. So, with proper wealth protection planning, an LLC would be a useful tool in minimising risk and protecting your savings and income.
What is your wealth protection plan?
