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Congratulations! You've started your own business, or you're considering it.

It's a hardy life indeed, to be a small business owner in New Zealand. It's your first step toward financial independence, if not considerable wealth; it's what you've worked toward your whole life. But amid the daydreams of controlling your empire from an iPad on your yacht and rolling with other captains of industry, there is one troubling thought always lingering in the back of your mind: what if my business fails?

Why you need to protect your assets

There is only one thing a business owner fears more than their business failing, and that is their business failing so badly that they lose their home. New Zealand is home to tens of thousands of small businesses, and most of them conduct business as limited liability companies. However, the protection of limited liability status is a moot point if the business lenders require business owners to put up personal guarantees. Do you see the problem? Technically, the law protects you from losing your shirt in a business failure, but it doesn't protect you from lending practices.

Benefits of a Business Trust

Yes, your personal assets can be on the line in the event of your business going belly up, or if your creditors take legal action to call in an outstanding debt. Consequently, savvy business owners are turning to business trusts as one way of minimizing risk. By moving their shares into a business trust, they have the secure protection of a trust structure and the peace of mind that comes with knowing that - come hell or high water - personal wealth is ring fenced away from business assets and remains untouchable. In a business trust, family assets are separated from business assets, leaving only the business assets vulnerable to claims.

Benefits of a Family Trust

Even better, your personal assets can be put into a family home trust, which is perfect for businessmen who value their families more than their businesses. A family home trust is the solution that more and more Kiwis are turning to, mainly because it can be set up online in a matter of minutes as opposed to weeks and months that traditional trusts require. Furthermore, setting up an online family home trust equates to a fraction of the cost of a brick-and-mortar trust company.

While a family home trust guarantees that your home will be protected from unwelcome claims and business liabilities, it also assures that your money will be go exactly where you want it to go - into an unbreakable chain of inter-generational wealth transfer. If you want to know more register with TrustUs today. No matter which route you choose, make sure you're protected as soon as possible. No one knows what tomorrow will bring, but at least you'll face tomorrow with the assets you have today.

Its in your hands.