Wealth Protection
Wealth protection is not just about getting the best financial return on your money,although this is one of the key objectives.
We view wealth protection as enhancing and protecting existing assets for those who are here to benefit from them today and making them available to meet the future needs of those who are here to benefit in the future.
What is our approach to wealth protection?
Our approach to wealth protection begins with listening to you, understanding your goals, and formulating a strategy to bring them to fruition. At the core of any successful wealth protection plan is assembling the right team, and we have extensive experience in doing just that. We work with those you trust and, where necessary, bring in additional qualified experts to assist.
Our strategy integrates key elements from investment management, financial advisory, and planning disciplines, all while considering your family's unique needs, objectives, and aspirations.
Wealth Preservation and Trusts
Trusts are an ideal way to help you and your family manage and preserve your wealth.
They protect individuals who may be prone to overspending by placing the control and management of funds under an independent trustee. This trustee has full authority to decide how and when funds should be used to provide benefits, ensuring financial security and responsible management.
Trusts can also be used to assist individuals with disabilities by enhancing their independence, well-being, and financial stability.
In estate settlement, trusts help avoid the time, expense, and publicity associated with probate, making the process smoother and more private.
They are an effective tool for transferring wealth efficiently from one generation to the next. By "generation skipping"—for example, directing funds from grandparents to grandchildren—trusts can help address complex family inheritance matters.
Until courts fully recognize pre-nuptial and post-nuptial agreements, trusts also offer protection to beneficiaries from some of the uncertainties of the legal system.
What is an Asset Protection Trust?
All trusts provide asset protection. However, in some instances, trusts established in foreign jurisdictions or those that move their administration to such jurisdictions and adopt the local law as the governing law of a settlement, are subject to specific “Asset Protection Trust” legislation which seeks to assist the settlor and/or beneficiaries from third party claims. Such legal protection goes beyond that available to a trust which is subject to Irish law.
Asset Protection Planning – Strategic and Multi-Levelled
Asset protection is no longer a luxury, it is a must.
The world is becoming a lot smaller from a business and legislative perspective and asset protection is therefore becoming more important on a daily basis.
Lawsuits are filed today in unprecedented numbers against individuals, businesses and professional practices and indeed the average professional is likely to be sued or at least face a legal claim at least once in his or her career.
You do not need to be rich to be sued; especially if you are in a high-risk situation or business. Nor do you need to be sued to lose your assets – divorce, failed business ventures, economic instability and personal and business bankruptcy all pose a threat to asset security.
Asset preservation is a strategic process involving multi-level planning. The importance of integrating asset protection and wealth protection planning to fully protect and preserve your assets cannot be overstated. By itself, even the most sophisticated planning may not protect your wealth against the many unforeseen events and economic threats that exist today.
We consider integrating the wealth protection and the use of family trusts can help you and your family mitigate such threats.
