Creating a sound financial future

Protecting the future of your family is synonymous with asset protection. If you want to ensure that they are cared for in your absence, that they are not saddled with your debt, and that they are not forced to leave your family home or give up beloved heirlooms, it is imperative that you take the necessary steps to secure your assets and plan for a sound financial future for your family. Here are a few different ways to protect your valued assets for the people you value most.

Liability Insurance

Whether you own a home, a business, or both, it's a good idea to consider using liability insurance to cover any instances in which you might be sued. Often, liability is included in homeowner's insurance policies, so if a neighborhood kid slips on your walkway and gets hurt, you won't have to pay out-of-pocket or risk losing your assets to a settlement. As for businesses, you will likely have to secure a number of liability policies. All of these are designed to ensure that your personal assets aren't up for grabs in a lawsuit situation.

Asset-Specific Insurance

Homeowner's or renter's insurance is always a good idea, especially if you don't have the cash on hand to cover losses in the event of theft, vandalism, or natural disaster, just for example. Don't forget, you can often add to your homeowner's policy to protect valuable items like art and jewelry in the home. And you should probably get automobile or other targeted policies for particularly valuable items.

Life Insurance

Protecting your assets could mean ensuring that your spouse or children have the money to pay off debts (including a mortgage, credit card debt, and so on) in the event that you die before you're able to pay them off yourself. The right life insurance policy could make sure your loved ones aren't saddled with debt following your passing.

Retirement Accounts

Sure, you can stick your money in a savings account, but you stand to gain significantly more by placing it in retirement accounts, including better interest rates and the ability to sock away pre-tax dollars. You just have to make sure you list a beneficiary other than yourself.

Wills and/or Trusts

Wills and family trusts are both valid options when it comes to asset protection. What you're likely to discover, though, is that trusts offer some decided benefits over wills, including protection for beneficiaries and no probate process. By placing your property in a family home trust (or other trust structures) you stand to enjoy the greatest level of security where assets are concerned.

So why not learn more and register with TrustUs today.

After all, it's in your hands.