Wealth Preservation – Asset protection
Wealth preservation refers to a wide range of measures intended to protect a person's assets from potential risk situations.
Nowadays it is sometimes rather difficult for entrepreneurs to manage their companies without occasionally ending up with the risk of liability. Anyone who has heard of punitive damage in the USA will know that sometimes seemingly trivial issues can trigger unbelievable and unwanted liabilities. It is therefore more than understandable that a responsible entrepreneur would want to secure certain assets for his or her family. This can be done for example through trusts or foundations.
It depends to a great extent on the existing situation, the primary residence of the concerned parties and the risk they are exposed to. In certain circumstances, for instance, a conventional insurance solution may be best. In order to prevent too much money from being tied up and therefore unavailable for business activities such a structure should be accompanied by reliable asset management.