Protecting Wealth Over Time
Wealth protection helps guard what you have worked decades to build.
It goes beyond investments. Building wealth can take decades, but sudden events like lawsuits, illness or family needs can quickly impact the lifestyle you can afford in retirement. We can help you identify potential risks & discuss strategies to help either reduce or transfer the risk.
Here are a few considerations to review with your attorney, CPA or insurance professional:
- Rental property: Tenant injuries can lead to lawsuits. Some investors use LLCs or umbrella policies for added protection.
- Teen drivers: If you cannot title or insure a young driver’s car in their name, consider alternatives such as funding a rideshare account.
- Recreational vehicles: Boats, jet skis, & planes carry higher liability risks. Owners often use entities & specialized insurance for protection.
- Insurance coverage: Key areas include health, disability, life, long-term care, & homeowner’s insurance.Umbrella coverage may provide added protection. Our own Christian Johnson (CA Insurance License#0K26161) is available to discuss insurance-related matters.
- Concentrated or illiquid assets: Large business or stock holdings can limit flexibility. Diversification,succession & income strategies can help manage this risk.
- Estate taxes: Estate taxes can affect heirs. Life insurance, gifting & trusts may provide liquidity. Consult your tax & legal professionals before acting.
