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It is not important, it is crucial! You should never lose control of your money and if you do not understand what is happening to your money, you stand a good chance of losing some or all of your money either to bad transactions, volitile markets, litigation or fraud; all of which are looming threats to every person's money.
First of all, make a list of your assets. Do you own a home? Then you need to protect it. Do you have a pension? If you do, you need to find out about the future status and threats to that asset, and so forth with all of your assets. That is a good way to start in determining what products would benefit you.
If you are an advisor, you need to take the above approach with your clients and recommend that they begin to understand the multiple options available in the practice of Asset Protection.
That one product is called a plan; whether it be an Asset Protection Plan or an Estate Plan. Plans don't always turn over every asset at one time. You have to build a structure. The point to be made is that the value of a good advisor is not only safety of your assets, but also saving you money by reducing your taxes, eliminating probate and loss management.
An estate is comprised of your belongings called assets. The value of the assets are only one part of the plan and the decision making and strategizing depend greatly on asset value, especially for taxation. However, regardless of the value of your assets, you want to remain in control of them while you are alive and even after you die by directing the new ownership of those assets. For this reason many people have estate plans desiring to direct assets to future generations.