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Liquidation is the “closing down” or “winding up” of a company. It’s different to bankruptcy and personal insolvency , which only applies to individuals.

There are many signs that a company is insolvent , such as:

• Not enough cash to pay debts
• No way to raise extra funds
• Cannot pay tax debt
• Unable to pay wages and entitlements

If you run a company that is showing these signs, it’s important to seek advice immediately.

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Asset protection is the use of smart, legal strategies to protect your assets from risks such as:

• Creditor claims
• Accidents and Lawsuits
• Separation
• Other events

The need for asset protection evolves as your life or business evolves. As you get older or more established, you have more wealth to protect and more reasons to protect it.

To talk with an asset protection specialist or estate planning from RSM, please contact your local RSM office >>