As the economy is slowly plugging along and appearing to improve, credit still remains tight. Even despite this, asset protection planning is still a big topic. Read on to learn more about how you can make an asset protection plan work for you as well as your family.
Asset protection simply refers to keeping your property safe from being taken by someone else such as someone who wins a lawsuit or a creditor. You can protect your assets from lawsuits through a process known as asset protection planning. You cannot begin asset protection planning when there is already a judgement or a creditor on the horizon.
Instead, you need to begin long before there is a sign of any lawsuit. Many individuals are exposed unnecessarily to risks associated with lawsuits but you can accomplish asset protection planning by thinking carefully about your estate planning goals as well as your short and