The asset protection is crucial, especially in a jurisdiction where expatriates reside and own movable and immovable properties. It is very important for the expatriates to understand the local laws that govern their assets and how their assets can be guarded during their life time and also after death.
An avoidable misfortune that befalls myriads of entrepreneurs is the loss of their homes, savings, and even their spouse or partner’s assets. Most often, it is too late when we are contacted as in most cases the asset owners are already at the edge being bankrupt. So, why leave matters until it is too late? If you will like to keep what is yours, contact us for a Asset Protection Consultation.
We are regularly called upon by our clients for asset protection matters, as it is one of our major areas of expertise. You can also join the boat, but first, you should understand why Assets needs to be protected.
Why Asset Protection Matters?
Assets Protection is a set of techniques or strategies used to protect assets belonging to an individual and/or business against the claims of third party, who tries to seize your wealth.
Assets are required to be protected to reduce the risk of losing your hard-earned property (Money, Real Estate Investments, Jewellery, Vehicles and Personal or Household Belongings).
Asset Protection is carried out by adopting various strategies such as:
- Formation of Limited Liability Companies or Limited Partnerships
The separation of liabilities is a major key to asset protection. Setting up an LLC can prove to be more beneficial in securing your assets than you can ever imagine. The benefits a company grants its promoters and directors are far more advantageous than what being a sole proprietor can give.
- Registration of Wills or Deeds
A legal declaration of a person wishes regarding the disposal of their assets after the death. Wills registration is the most desired and effective ones especially, when it comes to the assets protection of expatriates in the UAE.
- Use of Assets Protection Trust or Foundation
Both the trust and foundation provide families with a local solution to manage their wealth protect their assets and plan for successions.
How can Legal Maxims help you to protect your Assets?
Assets are the base for financial stability. When there is financial stability there is physical and mental security which will be equally beneficial for you and to your loved ones. So, take this initial step towards prosperity.
Upon our initial consultation, we will be able to ascertain where your assets are located and their identity, and thereafter we will be able to help you segregate where and how the assets should be owned and protected.
At Legal Maxims, we are glad to take on your request for the Protection of your assets and will assure you the peace of mind that you need. Our service includes but not limited to setting up legal forms for your business and helping you to responsibly plan any form of taxation. Since Asset Protection requires an in-depth knowledge of the various law in the UAE, we assure you of our esteemed service and dedication to ensuring that your assets are protected.
To know more about Asset Protection in the UAE, contact us for a free consultation today.