Wealth preservation involves managing your assets in such a way to ensure that the value of your assets does not decrease or erode. With wealth preservation objectives, the notion of maintaining existing wealth is more important than making more money. Many issues come into play with wealth preservation such as inflation, life insurance, retirement planning, long-term care, proper asset allocation and protection against capital market risk. Wealth preservation also involves estate planning strategies that help mitigate the effects of taxes, exit and succession strategies from businesses, and tax-advantaged investments that are intended to maximize income while minimizing tax burdens.