Not Considering Asset Protection Is Risky Business
We live in the US which is where 4.4% of the world’s population lives, along with 80% of the world’s lawyers, and where 96% of the world’s lawsuits are filed.
Exposing your family to danger is not necessarily on your list of things to do. In fact, we typically do everything in our power to protect our families and minimize exposing them to danger. But, only the wealthiest people ever consider asset protection. And, that needs to change.
Not having an asset protection plan in place is equivalent to exposing yourself and your family to the whims of the litigious. And that is without question risky business.
You’ve worked hard to accumulate what you have and you want to make certain that some unforeseen event will not come along and wipe out everything.
And, rest assured, asset protection plans are not just for millionaires. There are varying levels of asset protection planning depending on how much wealth you have accumulated including equity in your home, vehicles, bank accounts, investments or any kind of property or business holdings.
If you own a car and have a standard liability insurance policy understand that that is a single layer of protection. Should you be at fault in an accident that exceeds your coverage limits, everything you own is exposed. The same goes with business liability and being a homeowner. Think of asset protection as proactive protection for what you have accumulated.
Risk can stem from your business, your business partner, driving your car, your children, your home, etc. While just about everyone is always exposed to some degree of risk, most of us are not fully protected from risk. There are plans that protect your assets regardless of net worth. A well-crafted asset protection plan will consider your assets, their value and the types of risks you are currently exposed to.
It never hurts to explore the subject of asset protection. Call The Estate & Asset Protection Law Firm for a consultation.