Legal explainer: Asset protection for political candidates

ARNOLD BLOCH LEIBLER / PATHWAYS TO POLITICS PROGRAM FOR WOMEN, MAY 2023

So you’re thinking about running for election?

Whether that’s at a local, state or federal level, there are some important steps that you can and should take to ensure that your assets are safeguarded and protected.

In this short video produced for Pathways to Politics, Arnold Bloch Leibler Lawyers and Advisors explore why asset protection is important in a political context, and suggest a range of strategies for you to consider before you run for office.

The video covers:
00:00 Introduction
00:40 What is asset protection?
02:58 What can go wrong if you don't disclose your assets?
05:40 4 steps to protection
06:06 Setting up a family trust
06:52 Assets owned by a low-risk spouse
08:02 Insurance
08:38 Wills
09:32 Powers of Attorney
10:39 Appointment of a medical treatment decision maker
11:34 Other considerations, including costs and taxation implications
12:35 Key takeaways

NOTE:
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This video has been produced for general educational purposes. The content is not legal advice from Arnold Bloch Leibler and can only be relied upon as general information.

The content in this video is current as at April 2023.

If you require information or advice about your specific circumstances, please contact us directly via email at [email protected].
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This video was recorded on Wurundjeri country in Naarm (Melbourne). The Pathways to Politics Program for Women and Arnold Bloch Leibler acknowledges the traditional owners of the lands on which we live and work. We pay our respects to Elders past, present and emerging.