If you have an asset protection question that is not answered in Asset Protection Secrets, feel free to contact us.
Asset Protection: should I just give my house to the kids?
That’s an easy one. Absolutely no way. If you want to know why this is such a bad idea, read Asset Protection Secrets.
Asset Protection: what about Inheritance Tax?
The advice here is a lot more complicated. For the majority of people, asset protection will be more important, but if you have pots of money and or a massive pension it maybe that Inheritance Tax is more important, and we do have a service to deal with that: if that is the issue, why not give us a ring, or email through a brief outline of your situation, and we’ll be happy to suggest how we may be able to help (but advice is not free).
If asset protection secrets are of more concern’ please ask for our free booklet.
What about all those Asset Protection plans which guarantee to save Care Fees?
Have you heard the one about waving a red rag at a bull? It’s likely to charge. So we believe in a subtler approach. Sure, there are asset protection benefits, but there are so many other benefits that the asset protection features are really just a reason for you to have a chat with us, or at least get a copy of Asset Protection Secrets.
What about the cost of Asset Protection?
In real terms, most of the plans won’t cost your family a bean. However, you will have to shell out the fee to set them up in the first place. At worst, we expect your family will save that much and save months and lots of grief. At best, they can inherit everything you put in the trust rather than nothing at all. Look upon it as a gamble where the worst scenario is that you don’t lose. But the big win could be your life’s work saved to benefit your children and grandchildren. And maybe even more generation. Surely it has to be worth spending ten minutes glancing at the Asset Protection booklet?
Is Asset Protection a substitute for Professional Indemnity Insurance?
Not really! In most professions regulation is relatively fair and accords with UK Law. So it is possible to buy run off cover at a reasonable cost, as the rules are set and you only need it for 15 years. That said, professional indemnity insurers go out of business and find ways to legally avoid claims, so it is sensible to protect your assets.
However, if you have the misfortune every to have been a financial adviser, all bets are off. The Financial Regulators have no interest in justice, only in being popular with the public who just love their compo. And Financial Advisers don’t have human rights, so they can be dragged out of their care homes 50 years after giving what, at the time, was great advice. No other profession suffers in this way, and if you are or have been a financial adviser, you are (frankly) nuts if you don’t protect your assets.