It’s never too early to consider your wealth protection plan. Taking a proactive approach to protecting your assets and reducing your risk exposure will help you to secure your wealth and safeguard your financial future.
A crucial part of any wealth protection strategy is the identification and management of key risks, such as industry changes, business evolution, litigation, incapacity, illness or death. Ensuring that you have appropriate business and personal insurance coverage is essential for overcoming times of uncertainty and mitigating the long term impact of unforeseen events on your wealth. It’s also important to optimise your corporate structure and banking arrangements to maximise wealth and tax outcomes while minimising potential risks to your assets.
Whether you have worked hard to build your own fortune or inherited wealth from previous generations, undertaking comprehensive estate planning should form a fundamental part of your wealth protection plan. This will ensure your financial legacy is maintained and transitioned according to your wishes while avoiding potential disputes, payment delays or tax implications.
While there are many ways in which assets can be exposed to risk, some of the more typical circumstances include:
- Operating in risky industries, such as manufacturing, food and professional sectors
- Entering into a new business, including acquisitions, launching of overseas operations and new products
- Borrowing to acquire assets in relation to business expansion, leveraging balance sheets or negative gearing
- Generational changes, including business succession, wealth control transition, marriages and deaths
- Business evolution, including industry changes or disruptions and shifts in performance
Our wealth protection solutions
The most successful wealth protection plans employ a combination of the below strategies.
Utilising appropriate corporate structures to separate assets and reduce risk exposure, such as ensuring capital appreciating assets are not owned in the same entity as the trading enterprise.
Review and assessment of banking arrangements to ensure assets are not unnecessarily encumbered.
Advice on business and personal insurance, including policy reviews, risk analysis, tax implications and policy selection, as well as structured buy and sell agreement insurance.
Estate planning and related family agreements
Documentation of Wills, Statements of Wishes, Family Charters and Agreements or Binding Financial Arrangements, as well as advice on managing tax implications and estate payments, mitigating the potential for disputes and coordinating multiple financial structures, such as SMSF, Family Trusts and companies to meet testamentary objectives.
With decades of experience backed by comprehensive industry knowledge, Pitcher Partners are renowned for providing professional and reliable wealth protection advice to businesses and families of all sizes. We work closely with our clients to understand their unique financial objectives, analyse risks, manage exposure and establish effective solutions to ensure the security of their assets.
Our team offers wide-ranging expertise across taxation, corporate finance, banking, insurance, corporate recovery and family offices. We also have strong working relationships within the legal sector, allowing us to connect our clients with appropriate legal support and firms with various specialities where necessary.