Are your assets properly protected from loss or confiscation?
How do you know?
Most Canadians believe that they would have to do something terribly illegal to end up loosing some or all of their assets. Unfortunately, that’s not the case.
Potential liability is hidden in all of our lives, and even a questionable lawsuit may end up with unreasonable damages being awarded in court. And even if you aren’t found guilty and avoid paying damages, the legal bills and career consequences from such an event can be devastating.
Personal and/or professional liability insurance may not be enough. Many Canadians, including too many lawyers, accountants and financial advisors don’t understand the complexities of good asset protection. The reaction from most is “Who needs asset protection? I’ve got auto & homeowner’s insurance or professional liability coverage that will protect me.
However, these coverages only provide the first layer of asset protection.
You have no guarantees that your insurance company will:
That’s why you need to be smarter with your assets and use more than insurance to protect your assets.
Good asset protection requires a bit more strategy and specialized advice to act as a buffer between your wealth and any claims filed against you. There are a wide variety of options available including many minimal cost strategies.
If you’d like to learn more about how asset protection would apply to your situation let's chat.
It all starts with a casual 10-15 minute conversation.
Click the button below to schedule a time for us to talk.
Want a financial planner who treats you like a partner instead of like an account number? We're on a mission to end the frustration, stress and uncertainty associated with dealing with your finances.
It all starts with a casual 10 - 15 minute conversation on the phone.
Click the button below and pick a time to chat.