Asset Protection
You’ve been able to achieve extraordinary wealth due to hard work, perseverance, and perhaps some good fortune along the way. Unfortunately, the dream of starting a successful enterprise as a means to building wealth has far too often been replaced by a seemingly easier path by people who aren’t willing to do what you’ve done to earn the wealth you have.
Enter the concept of ‘wealth by litigation’. It’s a lot easier for someone to sue a wealthy family than it is to build substantial wealth, and this reality must be taken into account. Asset protection is often an after-thought in the planning process, yet its importance is only realized when it is inadequate or missing.
You don’t have to host frequent wild parties to be concerned about asset protection. The following are a few examples of exposures that can put your life’s work at risk:
- Creditors from failed business enterprises
- Auto or other motorized vehicle accidents, from any member of your family
- Professional risk
- Visitors injured on your property – whether they were invited or not
- Household employee liability
- Risk as an officer, director or manager of a company or non-profit
The Convergent Virtual Multi-Family Office Castle is symbolic for the need for the proper types and amounts of insurance. We review your ownership and involvement in companies and assets, then review your current policies and look for gaps or overlaps in coverage.
The next subject on the Convergent Virtual Multi-Family Office Path of Needs? It’s a soft subject that can be hard to master. Click Here for best practices on carrying on your legacy through Family Engagement & Philanthropy.
Family Engagement & Philanthropy
We help your family improve lines of communication, develop your heirs’ financial literacy, and model the leadership and decision-making skills for the following generations.
Comprehensive Planning & Wealth Management
Our virtual multi-family office structure allows for multiple personal meetings and virtual meetings to ensure that we understand your goals and desires.
Tax & Administration
The absence of advanced tax planning structures is likely the greatest oversight for families of eight and nine figure wealth.
Investment Advisory
The goal for an investment manager of captive assets, in an ideal scenario, is to limit taxable dividends, interest and capital gains as much as possible, while maximizing the potential returns of the selected investments.
Trust & Estate Planning
The best trust and estate planning provides for a multi-generational legacy, with your goals and values front and center.