How MDB Taxation and Business Advisors Can Help You With Asset Protection

If you are a small business owner or a family business owner, you know how hard it is to build and grow your assets. You also know how important it is to protect your assets from potential threats, such as lawsuits, creditors, bankruptcy, or divorce. However, protecting your assets can be challenging, especially if you don’t have the time or expertise to do it yourself. That’s why you need MDB Taxation and Business Advisors, a team of experts who can help you with all aspects of asset protection.

Why Do You Need To Take The Necessary Steps To Protect Your Assets?

No one likes to think about worst-case scenarios, but they can happen to anyone, anytime. If you don’t take the necessary steps to protect your assets, you could lose everything you’ve worked so hard for. For example, you could face:

  • Lawsuits from customers, suppliers, employees, or competitors
  • Claims from creditors or lenders
    Bankruptcy or insolvency
  • Divorce or family disputes
  • Falling into illness

All of these situations could put your assets at risk and jeopardise your financial security and future. That’s why you need to take proactive measures to protect your assets and minimise your risk exposure.

Book an appointment with us today!

How Can We Help You With Family Wealth Protection And Protection From Divorce?

Family wealth protection and protection from divorce are two of the most critical aspects of asset protection for family businesses. Family wealth protection is the process of preserving and transferring your wealth to your family members in a tax-efficient and secure way. Protection from divorce is the process of safeguarding your assets from being divided or claimed by your spouse in the event of a marital breakdown.

However, family wealth protection and protection from divorce can be complex and sensitive, especially if you have to deal with family dynamics, legal issues, or tax implications. That’s why MDB has a team of experienced family business advisers who can help you with these processes. Our job is to help you:

  • Create a family wealth plan that outlines your goals and values for your family wealth
  • Establish trusts, wills, or other estate planning tools to protect and distribute your wealth according to your wishes
  • Implement a binding financial agreement (BFA) to protect your assets from being claimed by your spouse in case of divorce
  • Negotiate a fair and amicable settlement with your spouse if divorce is unavoidable

How Can We Help You With Protecting Your Legacy After Death?

Protecting your legacy after death is another important aspect of asset protection for family businesses. Protecting your legacy after death means ensuring that your assets are distributed according to your wishes and that your family members are taken care of. It also means avoiding unnecessary taxes, fees, or disputes that could erode your wealth or cause conflict among your heirs.

However, protecting your legacy after death can be complicated and emotional, especially if you have to deal with estate planning, probate, or inheritance laws. That’s why MDB has a team of experienced estate planning advisers who can help you with these processes. Our job is to help you:

  • Create a will or a trust that specifies how you want your assets to be distributed after your death
  • Appoint an executor or a trustee who will carry out your instructions and manage your estate
  • Designate beneficiaries, guardians, or powers of attorney who will receive your assets or make decisions on your behalf
  • Plan for tax minimisation and asset protection for your heirs
  • Resolve any potential issues or disputes that may arise among your family members or creditors

What Does Our Asset Protection Program Offer?

MDB’s unique Asset Protection Program (APP) offers a comprehensive solution for protecting your assets from legal action, creditors, bankruptcy, or divorce. The APP is designed to work with your existing asset portfolio, whether held in a trust, company, corporation, or other entity. We’ll work with you to evaluate your risks and tailor a protection plan that fits your needs.

Our team of asset protection lawyers will help you choose the best protection strategies for your assets, such as:

  • Forming a new company that provides limited liability protection
  • Restructuring your existing holdings to reduce exposure or liability
  • Creating a custom asset protection plan that incorporates various techniques such as asset transfers, offshore accounts, or asset protection trusts

Some features of our asset protection services help you safeguard your assets and minimise risk exposure. We offer different services designed to assist your business, including:

  • Insurance coverage: We will work with you to determine the best insurance coverage for your assets, including property, liability, and business interruption insurance.
  • Risk assessments: We will conduct a comprehensive risk assessment of your assets and liabilities and provide you with a report outlining our findings and recommendations.
  • Asset protection planning: We will develop a customised asset protection plan for your business, considering your specific risk factors and objectives.
  • Implementation and monitoring: We will work with you to implement your asset protection plan and monitor your progress over time.

Contact Us Today

If you are looking for a reliable and professional accounting service for your asset protection needs, look no further than MDB Taxation and Business Advisors. We are here to help you with all your family wealth protection, protection from divorce, protection of your legacy after death, and other asset protection needs. Contact us today to find out how we can help you protect your assets.