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Articles : Asset Protection

As a definition, Asset Protection is the use of techniques and entities to insulate family and business assets from claimants. The aim of many affluent families is to make assets unattractive to claimants and make it difficult to attach to or place a lien on the assets.

Techniques are available to protect virtually all forms of assets; homes, investments, businesses, vehicles, etc. The likelihood of being sued is greater if you have assets and/or are successful in business.

Common Areas of Liability

  • Employment practices (discrimination, harassment, termination, etc.)
  • Contract disputes
  • Acts of your employees
  • Acts of your partners
  • Business separations
  • Directors and officers liability
  • Negligence and degree of care
  • Lending arrangements
  • Leases
  • Purchase and sale of goods
  • Acts of children (even if they are adults)
  • Divorce, separation
  • Accidents occurring on your property or caused by your vehicles
  • Statements you make (libel, slander)
  • Professional liability for omission or malpractice
  • Government regulations (environmental, OSHA, SEC, IRS, etc.)
Articles
Impact of Litigation on Small Business
While sitting at a traffic light waiting for the green light, you are slammed from the rear by a drunk driver who never saw you and didn't even attempt to stop. Clearly, you are an innocent victim with no fault in the accident.  More »
Senseless Jury Awards
Jury awards are sometimes staggeringly large, sometimes unaccountably low and wildly varying even in similar cases. Such unpredictability leads to cases settling with claims paid that should have been thrown out, and undermines society’s commitment to employ... More »
How Being At Fault While Not Financially Responsible Works
While sitting at a traffic light waiting for the green light, you are slammed from the rear by a drunk driver who never saw you and didn't even attempt to stop. Clearly, you are an innocent victim with no fault in the accident.  More »
Personal Wealth Retention In America
American personal wealth inequality, the haves and have-nots. The United States population is economically polarized and continuing to grow further apart. While reliable personal wealth statistics are rare; according to government estimates, the top 1% of wealth holders’ control 39% of US...More »
The Perils of Prosperity
Freedom from chronic financial concerns allows a family to strive for enjoyment, cultural enhancement and often philanthropy not otherwise possible. So where is the difficulty with prosperity?  More »
Proper Estate Planning Documents May Be Worth Millions
Wills, trusts, and the like are unpleasant subject matter that is usually considered shortly before departing on vacation. Many of us do not have a good understanding of what our documents call for, yet these documents represent all that we possess for those we love the most.  More »
Could You Lose All You Have In A Law Suit?
Wealthy families are vulnerable to losing much of their wealth as a result of legal action, accident, or catastrophic illness. The use of trusts, partnerships, and limited liability companies domiciled in favorable jurisdictions does keep litigants and creditors at bay.  More »
 
 
How Being At Fault While Not Financially Responsible Works
While sitting at a traffic light waiting for the green light, you are slammed from the rear by a drunk driver who never saw you and didn't even attempt to stop. Clearly, you are an innocent victim with no fault in the accident.

Impact of Litigation on Small Business
Most companies used business assets to pay the damages. However, in the case of employee complaints, insurance covered some of the damages.  Owners mentioned that the payment of damages nearly put them out of business, which affected them for a long period of time as they worked to rebuild the business and recoup their losses.