Your estate might end up being bankrupt unless you protect against very particular threats. Whether you are a family with plenty of wealth, a middle-class person, or a successful business owner, if you haven’t completed the process of asset protection planning and shielded yourself against the possibility of lawsuits, your entire legacy and all of the assets you have worked so hard to build and save could be on the line. Comprehensive estate planning without asset protection leaves you exposed to the risk of just one lawsuit.
These lawsuits can be financially ruinous and can devastate your loved ones for generations. Conventional estate planning in conjunction with asset protection planning, must be done in order to ensure that you are sending along the maximum amount when you pass away.
Furthermore, you need to protect your current wealth from being devastated by lawsuits prior to passing away. Since traditional estate planning only encompasses half of the problem, you need to ensure that your lawyer is thoroughly experienced in the asset protection planning process.