Asset Protection Strategies & Business Structure Services

Keep your assets safe and sound with our asset protection and business structure services. The Pherrus team consists of the best tax specialists and business tax accountants Sydney has on offer. We have a strong understanding of various business structures and the complexities that surround each one, and will therefore be able to ascertain the most profitable business structures based on your situation. Using our combined skills and expertise, we’ll determine which of the various corporate structures will most effectively safeguard your assets and make sure that your finances continue to grow sustainably.

We’ll guide you through the processes involved in establishing these structures, and ensure that each entity is set up properly from the get go. We’ll also provide ongoing support and advice to maintain your business and meet the requirements of each entity, ensuring that your financial future remains stable and that you are not faced with unnecessary costs or complications.

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An asset protection strategy is a way to protect the assets you own personally if your business is sued or you owe money to creditors. Assets are often one of the first places that creditors or lawsuits look at to recover costs or funds, making your personal assets vulnerable to removal or sale if they are not adequately protected and handled.

In Australia, there is a range of different strategies available to help you to protect your assets from creditors, preventing access should you need to pay off debts or legal costs. These strategies are designed to create a degree of separation between your business matters and your private ownership, ensuring you won't lose personal assets in relation to business expenses. Some of the key strategies for asset protection into getting business insurance, transferring assets to your spouse, and creating a separation of your business and personal life.

The best asset protection strategy will depend on your circumstances and requirements. But in most cases, the best asset protection strategies all involve one key component: creating a barrier between your personal and professional life and dividing your assets between the two. Any assets you own as a business, such as premises or warehouses, are separate from personal assets, such as property, which prevents creditors from having free choice over which assets they use to pay off debts.

If you're unsure where to start in protecting your personal assets, the best thing to do is to speak to a qualified professional. A trained expert can provide guidance on the best business structure, procedures, and practices to help keep your personal assets safe should debts or lawsuits occur in your business. A tailored asset protection strategy is always the ideal solution to ensure you're as protected as possible.

If you are a small business in Australia, you may be operating as a sole trader or partnership. But for asset protection, these two entry-level business structures don't offer the security you need to keep business and personal entirely separate. When you are a sole trader, there is no hard line between what your company owns and what you own as an individual, leaving your assets at risk.

Having insurance in place may be an effective way to mitigate specific risks to your assets, but if you want to improve your protection from the inside out, opting for a company or trust is the best option. This business structure offers clear separation for your business, leaving your assets out of the picture entirely. If you're not sure how to change your business structure, speaking to our professionals is an excellent place to start.

If you want to protect your assets as an Australian business owner, the best thing you can do is speak to the experts. A qualified professional can advise on the right steps to protect your assets for your individual circumstances. Typically, this advice can include choosing the right business structure, ensuring all business accounts are separate from personal accounts, and meeting all necessary legal obligations as a business owner to ensure your personal assets are never at risk, no matter what happens.

Having the right business insurance and using techniques such as different trusts or asset transfers can offer an additional layer of asset protection in Australia on top of following the proper practices and legal obligations for your business. The objective of these tasks is to create clear separation and the distinction between business and personal, leaving no ambiguity over which is which to creditors or during lawsuit action.

Book a FREE consultation with our tax and financial services experts

Don’t just accept our word when we say we believe we’re the best in business accounting, call our team now to book a FREE consultation. This gives you the opportunity to ask us questions and see how what we offer can meet your needs. It also gives us the chance to tell you more about what we’re about and how our customised, cost-effective service could transform the way that you do business.

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    Hear from our valued partners and how they have benefited from working with Pherrus Financial Services – The Best in Business Accounting

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