Asset Protection

Preserving family wealth and making sure the assets pass on smoothly from this generation to the next is a prerogative of every family. Most people assume that only affluent families have wealth to preserve. But the fact is that almost everyone has assets – modest or significant – that they can maintain for now and pass on for future generations.

Our asset protection solicitors at Pindoria believe that we cannot provide any valuable solution without understanding your motivations, requirements, and specific considerations. We help you plan and take effective asset protection steps now – before it’s too late – so that your family wealth is safeguarded within your family.

Passing on your family wealth as gifts or through Wills can be insufficient. We will provide practical and legal advice on setting up an asset protection trust so that your family gets to enjoy your assets. Asset protection involves,

  • Protecting assets from divorcing spouses
  • Protecting assets from business creditors
  • Protecting assets for members of the family who are unable to care for the assets themselves
  • Provide for children from previous relationships
  • Provide for current spouse and reduce tax burden after your death
  • Provide for young children
  • Help avoid or deter capital gains charges or inheritance tax

Our asset protection specialists will provide complete information on setting up and managing trusts in layman terms so that you can take an informed decision. Knowing that your assets are protected and passed on to the right persons will give you the peace of mind you deserve.

FAQ

  1. What is asset protection?

    Asset protection is a set of legal methods, rules, and regulations taken to protect individuals and businesses’ assets from creditors’ claims within the purview of debtor-creditor laws. Asset protection trust helps insulate assets against taxation, losses and seizures in a legal manner without resorting to any fraudulent methods of asset concealment.

    When you set up an asset protection trust, you ensure the assets are distributed according to your wishes after you pass away. Transferring your property into an asset trust prevents that asset from being considered a part of your estate.

  2. Who needs asset protection?

    Anyone over the age of 18 years and with a good mental capacity can set up a family asset protection trust with the help of expert solicitors.

    1. You need asset protection in case,
    2. You have a lawsuit
    3. You have accumulated considerable wealth
    4. You are not meeting your loan payments
    5. The mortgage on your house is much more than the value of your house
    6. You have significant business debt and more

    If you are using a trust to protect assets in divorce, you should remember that the courts have the power to change the settlement in favour of your spouse or civil partner – regardless of when you placed the assets in a trust.

    We know it can get overwhelming, and that’s why our expert asset protection solicitors will give you complete information on asset protection so that you can make informed decisions.

  3. How much does an asset protection trust cost?

    Asset protection trust cost can seem steep, but when you consider the thousands of pounds you save on legal fees, loss of assets, and the lengthy probate process, it is valuable in the long run.

    You might think property protection trust cost is a tad bit expensive. Still, we urge you to consider the protection your property receives against future challenges, against bankruptcy, and from costs and delays in probate processing.

    Our asset protection lawyer will help you set up an iron-clad asset protection trust that will help you with estate planning.

  4. What is the best way to protect your assets?

    There is no single best way to protect assets that are 100% effective. However, here are a few options that have proved themselves worthwhile.

    1. Consider setting up an asset protection trust.
    2. Separate your personal and business assets.
    3. Try to get umbrella insurance – for both personal and business assets.
    4. Plan and transfer some of your assets to your spouse or civil partner.
    5. Seek the services of asset protection specialists who will let you know all the procedures, legal obligations and agreement terms so that you can go ahead with efficient tax planning.

  5. How do I protect my assets before marriage?

    Experienced asset protection solicitors will tell you that it is difficult for the courts to decide which assets were accumulated before or during the marriage. Sometimes, a pre-nuptial agreement can help the courts treat pre-marriage assets and assets accrued during the marriage differently. But pre-nuptial agreements are not legally binding in England and Wales, and the courts don’t necessarily follow them.

    Putting your assets in an asset protection trust can be beneficial, provided you placed the assets in the trust before your marriage.

  6. How do I protect my assets before divorce?

    Protecting your assets before divorce starts with taking proactive steps based on legal advice from an experienced asset protection lawyer.

    1. You can try keeping your assets separate from other marital finances, such as placing your income in a different bank account.
    2. You can start protecting your assets by drafting a robust pre-nuptial agreement that you and your spouse enter of free will.
    3. You can set up an asset protection trust before your marriage. Setting up a trust is not easy. We suggest you seek expert legal advice from an early stage to effectively and reliably protect the assets.
    4. Loan agreements are also effective forms of asset protection before the divorce. But the agreement should be drawn up and signed correctly.

Book Your Consultation with Asset Protection Expert Now.