Growing a company or building wealth can change not only your life, but the lives of future generations as well. A business you create and a nest egg that you establish can improve your quality of life, give you financial security, and allow you to create a legacy. However, you need to make smart choices not only in how you grow your company and assets but also in how you protect all you have worked so hard to create. Thompson Law, PLLC. can help.
Our Sioux Falls asset protection and business planning lawyers can provide you with help at all phases of your company’s development and during all steps of carrying out your plan to grow your wealth. Whether you are established or just getting started, we can provide you with advice on the legal tools that can help you achieve your dreams and keep your company and assets secure. Give us a call to find out more about how our attorneys can help you and to get answers to questions you have about asset protection and business planning including:
- Do asset protection and business planning really matter to me?
- What should be a part of my plans for asset protection and business planning?
- How can a Sioux Falls asset protection and business planning lawyer help?
Are Asset Protection and Business Planning Necessary for You?
Anyone who owns a company should have a plan to grow that company, to keep it safe, and to hand it off to new owners when the time comes. Anyone in the process of building wealth, or who has established wealth, should also have a plan in place.
You need to work with an experienced attorney to make your plans for growth and protection because there are many possible tragedies that could cause you to lose everything. From incapacity or illness to a lawsuit against you or your company, there are threats you face that could undermine business success or cause you to lose your wealth.
It can take a lifetime to build a strong company or a nest egg that provides financial security and only a moment to lose it. You can use legal tools to make sure that the moment of loss never comes for you, by preparing and planning in advance to protect against it.
What Should Be Part Of Your Asset Protection Plan and Business Plan?
The plans you make must be tailored to address the risks that you face. The likely sources of loss for business owners can differ from the threats faced by someone whose assets are mainly comprised of things like stocks and bonds. This is why it is so important to get a personalized risk assessment completed and to get advice from an experienced attorney who knows your situation.
Thompson Law, PLLC. can discuss the challenges you face, your goals for the future, and the risks that could undermine your efforts. Our legal team can then help you to use tools including:
- Incorporation for your business, both to make succession easier and to keep personal assets safe in case of company losses.
- Insurance purchases for personal and business risks so you can ensure that an insurer is the one who pays for legal bills and damages if you are sued.
- Trusts, which provide many different kinds of asset protection from risks during your life and after your death. A trust can do everything from helping to reduce or avoid estate tax that could force the sale of your company to making certain your assets are not lost if you face high nursing home bills.
Our legal team also assists with business planning, establishing strategic investment strategies, and much more. Growth and protection are our two primary goals for our clients who own companies or who are focused on growing wealth.
How Can a Sioux Falls Business Planning and Asset Protection Lawyer Help You?
Thompson Law, PLLC. has provided help to many clients in South Dakota, from those who are starting to build wealth to owners of established companies doing millions of dollars in business. Whatever your life situation, we dedicate our legal knowledge to helping you to achieve the financial security that you deserve and to helping you to build and protect your legacy. Give us a call at 605-362-9100 or contact us online to find out more about the ways in which a Sioux Falls business planning and asset protection