“Protecting assets” means protecting your personal assets from creditors and lawsuits. It is a simple matter of being responsible for maintaining your wealth. The alternative is to take the very real risk that a careless business decision, a traffic accident, or someone filing a lawsuit against you for no valid reason will deprive you and your family of all the money you have spent a lifetime accruing.

American society has become a litigious one, a popular way not only for the people who file suits to become wealthy, but for their attorneys as well. Lawyers work on a contingency basis, collecting one-third to one-half of the assets they get for their clients. This is a huge incentive for a lawyer to work very hard to get as much of your money as possible in a lawsuit. Many wealthy individuals rank the fear of lawsuit as one of their biggest financial concerns, and with good reason.

No, absolutely not. As long as asset planning protection is done in advance of any legal/liability situation, it is completely legal. Once creditors are after you, once a suit has been filed, it is often too late to protect your assets.

Appropriate asset protection planning is the use of practical and sophisticated business and estate planning to place your assets safely and securely out of the reach of others.