Asset Protection for Affluent Retirees in 2025

An older man at the helm of a yacht on the open water at sunset.

(Image credit: Getty Images)

published 16 January 2025

In 2025, affluent retirees face an increasingly complex financial landscape. Protecting and growing wealth now requires a multifaceted approach, and the stakes are particularly high when dealing with substantial assets, complex family structures and evolving financial goals.

An ideal advisory relationship isn’t just about hiring one expert; it’s about building a team of collaborative professionals who understand your entire financial picture. By enlisting property and casualty professionals, legal and tax experts, real estate specialists and financial advisers with broad investment knowledge beyond the stock market, you can establish a comprehensive, integrated strategy that provides security, growth and peace of mind. Here’s a closer look at the key considerations when assembling a team to protect your wealth across every aspect of your financial life.

Protecting primary and secondary residences

For affluent retirees, primary and secondary residences are not only valuable assets but also carry unique liability and protection needs. By involving a team that includes property and casualty insurance professionals, you can ensure that these properties are insured against potential risks, from natural disasters to liability claims. Beyond standard homeowners insurance, high-value residences may require specialty insurance policies, which a property and casualty expert can help identify and customize.

Subscribe to Kiplinger’s Personal Finance

Be a smarter, better informed investor.

Save up to 74%

https://cdn.mos.cms.futurecdn.net/hwgJ7osrMtUWhk5koeVme7-200-80.png

Sign up for Kiplinger’s Free E-Newsletters

Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.

Profit and prosper with the best of expert advice - straight to your e-mail.

Collaborating with a legal adviser can further enhance protection by structuring property ownership through trusts or limited liability companies (LLCs), which can safeguard assets from creditors or lawsuits. In particular, a qualified personal residence trust (QPRT) can help transfer ownership gradually, reducing estate taxes while allowing you to maintain residence. The combined efforts of insurance, legal and tax professionals enable a thorough asset protection strategy tailored to your primary and secondary homes, even if they’re located in different states or used for rental purposes.

Marine, aircraft and recreational vehicle protection

Luxury assets such as yachts, private aircraft and high-value recreational vehicles come with their own sets of risks and regulations. In addition to being enjoyable lifestyle assets, they can create liability exposure, particularly if shared with family or rented out. With a property and casualty professional, you can secure specialized insurance that provides both liability and damage protection, ensuring that standard policies don’t leave gaps. Meanwhile, an attorney’s expertise in titling these assets within an LLC or trust can help separate personal finances from potential liabilities, adding a protective layer.

When a financial adviser collaborates with insurance and legal professionals, they can integrate these high-value assets into your overall wealth plan while considering potential tax implications and alignment with long-term goals. This comprehensive approach protects your luxury assets while keeping your financial picture balanced.

Operating businesses and rental real estate

If you own an operating business or rental properties — whether short-term vacation rentals or long-term rental real estate — working with a team of specialists is invaluable. A property and casualty insurance expert can tailor policies to cover rental-specific risks, while a legal adviser can establish separate LLCs or holding companies for each property or business to protect against liability and avoid cross-exposure between assets. The legal and insurance components are essential here, as the risks associated with rental properties and active business operations are higher due to increased tenant and customer interactions.

Real estate professionals are another critical part of your team if you own multiple properties. They bring valuable insights on maximizing rental income, market trends and, in some cases, opportunities to defer taxes through 1031 exchanges or qualified opportunity zones (QOZs). When working in tandem with tax and legal advisers, real estate professionals can ensure that your properties are not only protected but also optimized for growth and tax efficiency. Finally, by adding a financial adviser who is experienced with alternative investments, you can achieve a balanced strategy that includes your real estate alongside other types of income-generating investments.

Estate planning in second marriages with blended families

For retirees in second marriages, particularly those with children from prior relationships, a well-coordinated team approach to estate planning is crucial to avoid conflicts and ensure each family member is taken care of. Working with an attorney who specializes in estate planning and understands the needs of blended families can help you establish structures, such as qualified terminable interest property (QTIP) trusts, which allow your spouse to benefit during their lifetime while preserving assets for your children from a previous marriage. This strategy allows you to provide for all family members without risking unintended disinheritance.

Tax advisers are equally important here, as they can assist in structuring these trusts in a tax-efficient manner, while financial advisers can ensure your overall investment plan aligns with your estate goals. Regular collaboration among these professionals ensures that all aspects of your estate plan — from titling assets appropriately to updating beneficiaries on insurance policies and retirement accounts — reflect your intentions accurately. With everyone on the same page, you gain clarity and control over asset distribution, even in complex family situations.

Comprehensive wealth management: Beyond the stock market

A financial adviser who specializes in more than just stock market investments is essential for affluent retirees looking to diversify and protect their wealth. By collaborating with a team of professionals skilled in alternative investments, such as real estate, private equity and structured products, your adviser can help create a robust investment plan that balances risk and reward. Investment advisers who think beyond traditional asset classes can integrate income-generating properties, business ventures and other unique assets into your portfolio for a well-rounded strategy.

Through ongoing communication with property and casualty insurance specialists, legal and tax advisers and real estate professionals, your investment adviser can monitor and adjust your portfolio as your needs evolve. This holistic approach means that your assets are protected from risk while still positioned for growth, giving you the flexibility to enjoy your retirement while preserving wealth for the next generation.

The value of a collaborative professional team

In 2025, achieving a comprehensive and protective financial strategy requires more than individual experts working in silos. Building a team of collaborative professionals — including property and casualty insurance experts, legal and tax advisers, real estate specialists and financial advisers — ensures that every facet of your financial life is managed in alignment with your overall goals. This coordinated approach to wealth management provides the peace of mind that comes with knowing each professional is not only an expert in their field but is also working in harmony with your entire team to protect and grow your wealth.

When each team member brings specialized expertise to the table and collaborates effectively, you benefit from a 360-degree view of your financial landscape. From protecting homes and luxury assets to securing businesses, managing real estate and structuring an estate plan that respects blended family dynamics, a well-coordinated team enables you to achieve security and growth. With the right advisers by your side, you can confidently navigate retirement and leave a meaningful legacy for future generations.

Disclaimer

This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

Derek Miser serves as Chief Managing Member at Miser Wealth Partners, LLC, located in Knoxville, Tenn., and Tellico Village, Tenn. Miser Wealth Partners delivers family office services to successful retirees and entrepreneurs nationwide and in Puerto Rico. He recently published his first book, "Golden Years, Greener Pockets." This guide to tax efficiency for retirees is an excellent read for anyone contemplating or already retired.