Alfa Pride Financial Blog
You have accumulated assets of considerable value as a business owner, individual investor or both. But are they effectively protected and do they actually bring you the maximum possible monetary benefit? You can reach both of these major goals with effective personal asset planning. It is based on structures and strategies which are designed by finance, taxation and accounting experts to match the needs of the individual asset owner.
The two major pillars of personal asset planning are the taxation and legal structures. They are designed in line with the current regulations on taxes, asset acquisition and asset sales. They are flexible enough to accommodate any changes in the legal and financial circumstances in the respective country where the assets are held.
The planning is designed to cover all of your assets. These include your primary residence, assets which you have invested in such as properties, financial instruments and works of art, and any individual investments in your own business such as shares, equipment and buildings. Any changes in the pool of assets are provided for as part of the plan.
How It Works
The typical plan covers three major areas. The first one is asset protection. The assets are safeguarded from changes in the legal and taxation circumstances and from market changes as well. The second area is taxation. The legal structure is designed so as to minimize the taxes which you pay on your assets. The structure covers both taxes paid for holding the assets and ones which are due when you dispose or acquire new assets.
The third major area covered with personal asset planning is asset management. It is designed to help you use your assets in the most efficient way for maximizing returns. You will be able to use effective strategies for managing your assets in line with your changing circumstances.
It is also possible to plan for the distribution of your assets after your passing. This will give you peace of mind about securing the financial wellbeing of your dependents. Furthermore, you will ensure that your assets will continue to bring the same or even higher returns in the long term.
Overall, with effective personal asset planning, you can avoid legal and tax issues. Even if such issues occur, they will be resolved timely and effectively and with minimal loss. You will be able to generate savings on taxation while maximizing the return on investing in your assets. You will have the flexibility necessary to manage your assets effectively in line with the changes in your personal circumstances.
Personal finance can be complicated, but it doesn't need to be. Connect with a licensed financial professional at Alfa Pride Financial for a complimentary consultation and needs analysis to create the right financial roadmap for yourself.