|
John Powers Attorney-at-Law How should business owners go about preserving their wealth? |
|
| Business owners have a unique opportunity to make an income and reserve part of that income for their own security and their family's security in the future. To order to accomplish that they need to recognize the goal of saving part of what they're earning in that business that they are operating. And in many environments businesses are always going to be considered a liability target so rather than build up tremendous wealth in the business in the business that you own personally I encourage my owners to move those earning out of the business into their personal names and then if necessary lend money back in the way of loans to the business that are documented so that they are actually building their personally wealth and security outside that business which can be the target of liability claims. | |