Wealth Preservation | Webb Investment Services

{ WEALTH PRESERVATION }

What is Wealth Preservation?

Most of us want to live a certain lifestyle now and into our retirement years. Additionally, many of us wish to leave something behind for those we care about. Wealth preservation is a term used to describe strategies and tools that focus on helping individuals, families, and businesses safeguard their assets to accomplish these exact goals.

Let’s face it, you have worked hard for your money, but what do you do when something happens that is out of your control? Do you have a plan in place to help protect your assets from such an occurrence? Do you have a trusted partner to help you navigate this new territory? At Webb Investment Services, we believe in working with any other relevant advisors to help address any concerns and to assist with protection from the following:

Catastrophic loss
Potential creditors
Litigants
Identity thieves
Long-Term Care expenses

FAQs

The main goal is to position assets from future creditors and/or unexpected events. This can be extremely important because there’s no absolute way to eliminate every possible threat to your assets, investments, or business. Wealth preservation gives you peace of mind that you are in the best position to avoid potentially devastating events from diminishing your assets.

Another benefit of wealth preservation comes in the form of estate planning and succession planning. Through trusts and other legal mechanisms, along with an attorney, you determine how you wish to pass along your property. We can work with you and your estate attorney to develop the most strategic plan for your situation.

Now is the time. The wait and see approach can put you in a position where it is too late to plan once a situation arises. Our recommendation is to start Asset Preservation Planning while you are still healthy and can still make the choices that will help you protect your assets. You can set up protections from lawsuits, creditors, long-term care expenses with a well thought out plan as to where your assets are placed while taking into account the legal protections that are available to you. We will work with your team of professionals to make sure that you are in the best position as you can be.

Absolutely not! It's true that America's wealthiest families were traditionally deep-pocket defendants who were most concerned about shielding their wealth. The social elites of past eras sheltered their massive wealth with trusts, family corporations, and other protective entities, which privatized or lawsuit-proofed their properties. However, they seldom referred to their financial strategy as “asset preservation”. But the super-rich are no longer the only lawsuit target — anyone with assets needs assistance with preserving their investments! By working closely with your attorney and your CPA, we can help you formulate a plan that fits with your family.

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Any opinions are those of Laura Webb and Faith Doyle and not necessarily those of Raymond James. This material is being provided for informational purposes only and is not a complete description, nor is it a recommendation.

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Raymond James and its advisors do not offer tax or legal advice. You should discuss any tax or legal matters with the appropriate professional.