Asset Protection

It is only in recent years that people are becoming aware of the need to
protect the assets they have acquired over a lifetime of hard work.
Protecting assets is in large part a reaction to the litigious nature of our
society. You can do nothing wrong and end up with a million dollar
judgment against you and everything you own. So, legislators have
enacted some protections in the form of the homestead act, statutory
exemptions for certain assets from seizure, and bankruptcy protection.
There are additional tools available to protect your home and property.

Many people think that the threat of a lawsuit is small, and simply
having a corporation protects them. 42% of outside directors of
corporations surveyed have been personally sued. One out of ten
people in America can expect to be sued at least once in their lifetime.
If you own a small business, the odds are much higher. Even Churches
and non-profits now find themselves as defendants, and often the
directors are personally named as defendants. Liability insurance is
becoming a way of life, but the premiums are astounding. Frivolous
lawsuits are more prevalent than ever, and insane judgments are in the
newspaper headlines regularly.   You can win and still feel like you lost
after spending $10 to $30 thousand dollars defending.   Most people
think they will never get involved in litigation, but then most people won't
face the reality of their eventual death either. One might respond
defensively at this point, but one only need recall that 70% of the
population has never faced these issues with a written plan. The
necessity of a good asset protection plan simply cannot be denied.

You should be aware of some of the tremendous tools available now. I
would point out that the vast majority of attorneys in America know little
about the tools and structure of what is available. I know this because I
have a "traditional" legal education. I've spent years and invested
serious money tracking down these tools and acquiring the knowledge
necessary to put together a good plan. Frankly it is impossible for me
to discuss particular examples or applications in this web site as though
one shoe could fit all.   This points out that the structure of an estate
and asset protection plan is the real treasure, and the documents are
only some of the jewels in the treasure. In other words, the value is in
the plan, not just the documents. "Structuring" requires complete
knowledge of your estate, income, tax situation, businesses and
liabilities, generational issues, and your personal goals.

To read more about asset protection tools, continue

You did not work a
life time to get where
you are . . . only to
lose it all to a
ridiculous lawsuit and
greedy attorneys.
You were smart when
you made your
money. Now be
smart in protecting it.

Charles Marunde, J.D.

Estate Planning & Asset Protectionn

Learn on this site how to do good estate planning and good asset protection.
Learn also how to coordinate your business planning with your estate planning.

Asset Protection

Back to
FreeRealEstateLaw

Types of Trusts