When you may ask, is a good time to protect assets? The short answer is, Now! Immediately, Yesterday. Take action right away to protect assets from creditors and potential creditors. You can protect against risk, for example, divorce, death, liquidation, sequestration, debt or even feuds.
What types of assets can be protected?
By law, you can protect all of your assets with a few exceptions. Here is a list of examples:
Protect moveable assets
Moveable assets are assets that are fully paid for. Examples of moveable assets are furniture, cars and other vehicles, investments, shares, policies, and debtors.
Protect immoveable assets
Immoveable assets are assets such as commercial buildings, houses, flats, erven and plots.
Protect intangible assets
Intangible assets refer to rights, copyrights, trademarks, and goodwill which in law are referred to as incorporeal assets.
Can I always protect all my assets?
You cannot protect assets if the Sheriff has already managed to attach your assets on behalf of a creditor. You can also not protect assets that are not fully paid for.
How do I protect my assets?
There are legal ways to protect all assets. The protection is guaranteed by the way your business is structured. It is also prudent to protect yourself legally.
Allow us to help you structure your business. What does business structuring mean? It means we help you set up, or rearrange, your business in such a way that if things go wrong your assets are safe. Having secured your assets you are assured of continuity. With correct structuring, you will be unaffected by the debt of the Close Corporation or Company.
Asset protection and the law
You will be happy to learn that the law makes provision for you to protect all assets legally. Give yourself and your family peace of mind by consulting with us. There are those who will tell you that you cannot protect assets – not true. We have the knowledge and we would like to help you to a safer financial future.