Structuring is very time consuming and expensive…right?

There’s a perception out there that structuring comes with a high-price tag and a lot of extra work. The truth is that it’s not nearly as costly as you might expect and could save you and your family a lot of money in the long run. It is a foundational step in building lasting wealth.

Structuring: what is it?

The definition of wealth structuring is “determining the most effective ownership of someone’s assets in a way that meets their wishes and desires in the event of retirement, death, or incapacity of the leading members of that family”.

It often involves a multidisciplinary strategy incorporating wealth protection, tax planning, family governance, and succession planning. 

A financial planner can work alongside lawyers or accountants to help you structure your assets effectively, this might include:

• Asset ownership
• Business ownership and directorship
• Trusts and estate planning
• Tax planning and minimisation
• Wealth transfer

Who is it for?

Almost everyone would benefit from structuring their assets effectively. A family with a home and some investments could easily have a $2 million estate, and could stand to pay a huge amount of tax when transferring property to the next generation following a death. 

Directors of businesses must think carefully about ownership of assets in the case of litigation and claims. Business owners need a strategy in place for what to do if anything happens to them and they become incapacitated.

These structures are sometimes overlooked because retirement or death feels very far off, but in the interests of protecting your own family it’s worth preparing for unforeseen circumstances.

To get personal advice on your current structure or implementing a structure, book a complimentary discovery session today.