Why do I need Asset Protection? What do my Assets need protection from?

You have probably worked hard for the majority of your life. You have accumulated assets that, one day, will be passed to your loved ones upon your death. Asset Protection involves putting together the appropriate legal structure to shield these assets from:

  • potential legal action;
  • claims from creditors;
  • marriage breakdowns; and
  • bankruptcy (just to name a few!)

You MUST ensure you have the right structures in place so you can be certain what you’ve worked hard to accumulate is fully protected.

Let’s take a marriage breakdown for example. All too often, we have clients telling us that their husband/wife may remarry after their death and they don’t want his/her new husband/wife to have the benefit of their estate. How can they ensure that only their Wife and kids get the benefit of all their hard work?

At Stanley & Co. Lawyers we can assist you in preparing your Will with this in mind. We can draft your Will in such a way that enables your son to gain the benefit of your life’s hard work, but that these assets not be part of the marital asset pool and not be available for distribution, should their marriage breakdown.

Call us on 08 8423 4546 to speak directly with an experienced Wills and Estates Lawyer in Adelaide.

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