Your estate and asset protection plan - crafting a personalised plan to protect your legacy
Crafting a personalised plan to protect your legacy
Click the following links to use DYOdocs to create a free report on the legal documents you need as part of
your will-based estate plan or your trust-based estate and asset protection plan
and why it’s essential to have legal expertise you can trust
Crafting a personalised plan to protect your legacy
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Your wealth represents a lifetime of hard work, dedication, and the dreams you've nurtured.
At Ross Holmes Virtual Lawyers Limited, we understand the importance of preserving and protecting your assets. Our boutique law firm, based in Auckland, New Zealand, specialises in trust-based asset protection plans and will-based estate plans.
Our comprehensive guide to trust-based and will-based estate and asset protection plans will empower you to make informed decisions that benefit you and your loved ones.
In the next sections we will deal with key elements and strategies for your estate plan.
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Why Estate and Asset Protection Planning Matters
Estate and asset protection planning is the key to securing your wealth and ensuring its seamless transition to future generations. By legally organising and structuring your assets, you shield them from potential risks, creditors, lawsuits, and financial liabilities. It's your proactive approach to safeguarding what you hold dear.
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A will serves as your voice beyond the grave, specifying how your assets should be distributed upon your passing. Our team of experts will guide you through the intricacies of will creation, ensuring your intentions are preserved. Trusts, on the other hand, offer unparalleled protection by holding assets for beneficiaries under the watchful eye of a trustee in a manner that achieves your objectives.
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We understand the importance of maintaining a clear boundary between your personal and business assets. Establishing limited liability entities, such as limited liability companies, shields your personal finances from business-related debts and obligations. This separation of liabilities empowers you to make bolder business decisions with peace of mind.
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Consolidating family assets becomes a breeze with limited partnerships (LPs). These invaluable tools provide centralised management of your family wealth while simultaneously offering limited liability protection to partners. It's the perfect harmony between growth and security.
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Life is unpredictable, but you can prepare for the unexpected. Adequate insurance coverage, including life insurance, liability insurance, and income protection insurance, forms a safety net that shields you from unforeseen events.
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In New Zealand, the KiwiSaver scheme ensures that your superannuation funds remain protected from potential creditors while they reside within the fund. It's an additional layer of security for your retirement nest egg.
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Structured gifting and wealth transfer strategies provide a robust defense for your assets. By transferring assets to trusts or family members during your lifetime, you proactively protect your wealth for future generations. Our expertise in this area ensures that your wishes are respected.
Trust-based or will-based estate plans: Making the right choice
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Estate planning is a crucial step towards securing the future of yourselves and your loved ones and ensuring your wishes are carried out. At Ross Holmes Virtual Lawyers Limited, we understand the importance of making the right choice for your unique circumstances.
When it comes to estate plans, there are two primary options to consider: trust-based estate and asset protection plans and will-based estate plans.
Each option offers distinct benefits, and finding the one that aligns with your goals requires thoughtful consideration.
Please click those links to learn which of those options will achieve your objectives.
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To gain a deeper understanding of these options, we encourage you to delve into our comprehensive Guide: to your estate and asset protection plan - crafting a personalised plan to protect your legacy .
It will provide you with the foundational knowledge necessary to make an informed decision. And remember, our team of estate planning experts is here to assist you every step of the way.
How Ross Holmes Virtual Lawyers Limited can assist you
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Estate and asset protection planning is a meticulous process that requires the guidance of professionals specialising in this field. At Ross Holmes Virtual Lawyers Limited, we excel in breaking down complex legal concepts into easily understandable terms. We take the time to listen, understand your unique needs, and provide down-to-earth guidance, empowering you to make informed decisions.
Join our family of clients who have experienced the transformative power of a comprehensive estate and asset protection plan. Together, we'll create a legacy that stands the test of time.
Our services are available to clients throughout the country, utilising email, Zoom, in-office meetings and telephone consultations. Additionally, we offer online trust and trust administration webinars for your convenience.
Contact us today to embark on your journey towards a secure future.
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As the Managing Director of Ross Holmes Virtual Lawyers Limited, Ross Holmes brings a wealth of knowledge and experience to the table. With a background as a contributing author to Lexis Nexis "Law of Trusts" and a membership in STEP London, Ross has established himself as an expert in the estate planning field. He has authored several books on trusts.
Disclaimer: This article should not be relied upon for legal advice. Always seek professional legal advice before making any decisions regarding your business.