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
I am constantly focused on asset protection – – even on vacation! A week or so ago while on vacation in Hilton Head, SC, I noticed a local newspaper article that reminded me of the huge potential liability you can face from a teenage driver in the family.
An article in The Island Packet described
"Asset Protection" is not a substitute for insurance. In fact, insurance should be an integral part of protecting your assets.
There are many kinds of insurance. Each risk has to be evaluated on its own and a reasonable decision has to be made about the amount of appropriate insurance. For example, if you have teenage
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
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
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
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
