Protect Your Wealth

We talk a lot about protecting our businesses around here, but what about protecting your wealth?

Ideally, your business should = wealth (at some point) so how do we go about protecting it?

We learned a ton about this at #AmigasinWealth where maintaining your WEALTH (say it loud and proud!) and having a healthy relationship with money is just part of the puzzle of protecting wealth long-term.

Here are some ways that we address (in consultations and with clients) how to protect our wealth beyond the scope of how we usually talk about these things.

1) Estate Planning: Plan, plan, plan before the state decides how your wealth is distributed for you. Estate planning is the process of preparing for the transfer of your assets, properties, and wealth to your chosen beneficiaries upon your death or incapacitation. This can include your business(es) as well as business assets!

2) Business Structuring: If you own a business, consider appropriate legal structures (e.g., LLCs, corporations) to protect personal assets from business liabilities (otherwise known as protecting your $ if you get sued).

3) Pre-nuptial or Post-nuptial Agreements: If relevant, consider a pre-nuptial or post-nuptial agreement to protect your assets in the event of divorce. We have a prenup and highly recommend it!

*Disclaimer: This post is strictly for general informational purposes only and is not intended to constitute legal advice.