Minneapolis Business Attorney

Wealth Management and Fraudulent Transfer Avoidance

Many people do not realize the amount the time and effort it takes to maintain wealth that has been acquired by a particular family or that has been in the family for several years. There are a number of dangers out there that could eat away at the family wealth and income stream.

Handling Inflation

One of the more important things about wealth management is making sure that the value of wealth stays the same over time. This means making sure that the family wealth contains the same amount of buying power over time. Buying power is a measure of how many material goods can be purchases with the amount of wealth.

If you are able to buy the same amount of stuff over time you’ve at least beat inflation. Inflation is the natural degradation of the value of money. This usually happens at a rate of about three percent a year, but can fluctuate based on market conditions.

Restructuring Property

Another large part of wealth management is restructuring and reorganizing holdings and other forms of property. As there are a number of different things that can change over time in the family, these thing can affect the overall family wealth. This includes activities such as re-titling, transferring property, or converting property into exemptions from confiscation.

In order to do this, one must have a thorough understand of fraudulent transfer statutes for his or her particular state. This can be incredibly confusing and may require the help of an experienced business attorney.

Contact Us

If you would like help managing your family wealth, or drawing up an asset protection plan, contact the seasoned business law attorneys of the Skjold ▪ Barthel law firm by calling 612-746-2560.