Financial Literacy Month - Asset Protection

April 12, 2022
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So you've prepared for your goals and you believe you are on track for your financial goals. 

That's wonderful. 

What now?

April is Financial Literacy Month. If you haven't put some thought into Asset Protection Strategies, now would be a great time to do that.

What Is Asset Protection?

Asset protection is the adoption of strategies to guard your wealth. Asset protection is a component of financial planning intended to protect your assets from creditor claims.

Individuals and business entities use asset protection techniques to limit creditors' access to certain valuable assets while operating within the bounds of debtor-creditor law.

KEY TAKEAWAYS

  • Asset protection refers to strategies used to guard one's wealth from taxation, seizure, or other losses.
  • Asset protection helps insulate assets in a legal manner without engaging in the illegal practices of concealment (hiding of the assets), contempt, fraudulent transfer (as defined in the 1984 Uniform Fraudulent Transfer Act), tax evasion, or bankruptcy fraud.
  • Jointly-held property under the coverage of tenants by entirety can work as a form of asset protection.

It's important to make sure you've taken appropriate steps to protect your assets - for yourself, and for future generations. 

For a free, 30 minute consultation, please click on the link below:

https://calendly.com/gowdyfinancialgroup/30-minute-consultation

We also provide: fast, flexible, funding solutions for business owners and investors interested in purchasing or refinancing commercial real estate nationwide. Loans from $250k-$5MM. For more information, please click on the link below:

https://www.gowdyfinancialgroup.net/commercial-mortgages

To Your Success!

This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite, LLC, is not affiliated with Gowdy Financial Group, LLC. or the SEC-registered investment advisory firm. The opinions expressed and material provided are for general information and should not be considered a solicitation for the purchase or sale of any security.