Mercia | Taxation, Business & Finance Advisers

By Asset Protection we mean the concept or implemented strategies for preventing or minimising anyone or number of other persons, or businesses from taking your assets. We also extend it to include strategies that compensate your for loss of assets. Asset protection includes but is not limited to the strategies, structures, legal agreements, borrowing arrangements and insurances used within the bounds of the law to protect your assets from creditors.

Asset protections strategies do not include illegal acts such as non-disclosure (hiding assets), fraud (transferring assets), tax evasion, bankruptcy fraud, divorce.

Typical Structures that are created when implementing an asset protection strategy:

Asset ownership Structures:

1. Discretionary Trust or commonly known as Family Trusts, Brief Description & Setup a Trust Instruction Form
2. Self Managed Superannuation Fund (SMSF) Brief SMSF Description & Setup a Trust Instruction Form
3. Company – Brief description of a Company  & Setup a Company Instruction Form
4. Other Structures exist for different specific purposes, such as a testamentary trust for estate planning purposes (brief description) or a Joint venture/partnership for a business venture .

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