Secure Solutions Financial Group
(210) 493-9195
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What is asset protection?
Most asset protection “gurus” believe asset protection revolves around helping clients who have money protect that money from your “typical” creditor from a negligence suit. A few examples of a typical creditor are: a patient who sues a physician for malpractice, someone who slips and falls on property and sues the owner, or someone injured from someone negligently driving a car.
While it is true that clients with money do need to protect themselves from the “typical” creditor, there are many other creditors out there clients need to be protected from.
Who are other common creditors clients don’t think of as a “typical” creditor?
-The IRS and state government (if you have a state income tax). The IRS is everyone's number one guaranteed creditor every year? Every year high-income clients pay taxes to this creditor. Would you like to pay $15,000, $50,000, and 100,000+ less in income taxes this year? Absolutely. That’s what a CWPP™ can help you with.
-The stock market. You know this is the case if you had money invested from 2000-2002 when the stock market lost nearly 40% of its value. Think about it, did you lose money from 2000-2002? Absolutely. Would you like to invest in the market with good potential for growth and still principally protect all or the majority of your money? That’s what a CWPP™ can help you with.
-Capital gains. Many clients every year sell highly appreciated real estate and stocks. Those clients complain because they have to pay capital gains taxes. CWPP™ advisors can help clients sell highly appreciated assets and avoid the current capital gains thereby allowing the government’s money to be used for years to help clients build a larger retirement nest egg.
- Estate taxes. Clients with wealth all worry about the estate taxes that will be paid upon their death. Few advisors truly know “advanced” estate planning and ways to mitigate estate taxes. CWPP™ advisors know many tools to reduce the size of a client’s taxable estate so as to minimize or eliminate estate taxes.
-Long-term care expenses. The number one guaranteed creditor of clients over the age of 65 comes from the health industry in the form of long-term care expenses (drug costs, home health care, nursing home, surgeries, etc.). It is vitally important for clients to protect themselves from this guaranteed expense. The best time to protect yourself from this guaranteed cost is to deal with it when you are still working (if possible). The earlier you deal with this expense, the lower out of pocket costs you will have. CWPP™ advisors are specializing in helping clients pay for these expenses in a tax favorable manner.
Call Carolyn or Terry today!
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