Asset Protection 101
For those needing asset protection (and their advisors), understanding the basic issues will guarantee a more successful outcome. Here are some common issues, designed in summary format with links that will provide the understanding necessary in order to preserve your wealth.
Who Needs Asset Protection?
RISK FACTORS OF THOSE NEEDING ASSET PROTECTION
High net-worth, high liability, as an example – doctors, rookie athletes, business owner
- Do you drive a vehicle and/or own a home; and,
- are a board member, officer or director of a public or private business; or
- are a board member of a charitable, school private foundation or other board; or
- have assets that would be difficult to replace if lost or reduced; or
- have employees; or
- you own your own business; or
- have professional liability; or
- own liability generating assets like investment real estate; or
- are considered highly visible and have substantial wealth; or
- are selling a business and replacing recurring income with a single lump sum
Common Issues
Many do nothing because they don’t want to make Asset Protection Mistakes!
- How safely learn if the Planning I have will Protect my assets, business and family?
- How do I know if my attorney or advisor is an experienced Asset Protection Attorney?
- I’m Selling My Business – Why Do I need Asset Protection?
