Asset Protection Law Journal

Asset Protection Law Journal

Helping individuals and businesses take advantage of asset protection laws

Category Archives: Insurance

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Insurance Should Be Part of Your Asset Protection Plan

Posted in Asset Protection Strategies/Alternatives, Insurance
Articles that seemingly have nothing to do with asset protection might still provide valuable asset protection reminders.  A recent article by Teresa Dixon Murray in the Cleveland Plain Dealer is a good example.  The article discusses an individual who keeps more than $100,000 hidden at home!  That reminds me of at least two asset protection… Continue Reading

Umbrella Policy

Posted in Asset Protection Strategies/Alternatives, Insurance
A so-called umbrella policy can provide substantial insurance coverage at a modest cost. There are many reasons you need to protect your assets.  We often focus on business and professional risks, economic problems, divorce and other catastrophic events.  But disaster frequently strikes from much more routine events — like an auto accident. Let’s say you… Continue Reading

Review Your Current Insurance Coverage

Posted in Insurance
Asset protection attorneys assist clients with domestic and offshore trusts, limited liability companies, and a variety of other asset protection alternatives. I have recently reminded a number of clients, however, that they should not overlook one of the simplest and most effective asset protection strategies — insurance. When was the last time you reviewed all… Continue Reading

Single Premium Whole Life Insurance Policy Can Provide Asset Protection

Posted in Asset Protection Strategies/Alternatives, Insurance
Certain life insurance products (as well as certain arrangements like an irrevocable life insurance trust) can provide asset protection advantages.  For example, if you have a significant amount of cash that is not otherwise needed, and you also have the need for life insurance, a single premium whole life policy might be appropriate.  Cash that… Continue Reading

Asset Protection Strategies for Your Business

Posted in Business Protection, Insurance, Limited Liability Company
There are a number of relatively simple strategies an organization can use to provide significant protection for its assets. 1.                        Separate Entities. Consider creating a separate entity (possibly a limited liability company) to hold real estate, machinery, or assets relating to a new line of business. If there were a future judgment against the corporation, the assets… Continue Reading
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