As we all get used to the idea of Queen Elizabeth II’s reign ending and King Charles III’s reign beginning, it got me thinking about how the royal family’s succession plan works so seamlessly.
And there is a lesson here for all of us.
Death, illness, injury and major trauma from diseases like cancer are all life events that we need to plan for if we want to make sure our assets end up in the right hands – generally our family’s!
Protecting your assets, both business and personal is arguably as important as building or growing and acquiring them in the first place. All your hard work can be quickly erased if you don’t.
It is important to have effective asset protection strategies in place before something goes wrong.
When you do, and where the asset protection strategy is legal, you could effectively prevent a claim against your hard-earned assets by:
- a creditor,
- a partner in the event of a future relationship breakdown, or
- someone who wants to challenge your estate after you die.
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