Whether you are just starting out in your career, are close to retirement, or are somewhere in between asset protection is essential. For business professionals, it is so easy for everything to be taken away from you by a lawsuit. This is why asset protection is so important, without proper business structure, tax, and estate planning it is very hard to properly have your financial assets protected. We know there is a lot of noise in the industry and what a good asset protection product is and what it does, this is why we would like to review companies and products and that provide this service.
There are three pieces to any good asset protection product/service. The first is the need to protected your business assets and personal assets from lawsuits. This can be done in a variety of ways and is based on each individuals situation. A good product will not be a one size fits all, but will allow you to tailor the business structure and lawsuit protection to your needs. The second piece is proper tax planning, there is no need to pay more than your fair share in taxes and is part of the decisions in what lawsuit protection tools you utilize. The last piece is having the right estate plan setup for your needs. A good product/service will focus on all three of these tools and will tailor them to your specific needs.
One of the most important areas you need to be aware of are asset protection scams. There are legitimate companies that have decades of experience and excellent tools/products to help business professionals protect their assets. There are also companies and services that lack the experience and expertise needed to properly help people make the right decisions and setup their lawsuit protection, taxes, and estate planning with the right tools for their situation. The two most important things to look for here is #1 experience and #2 being able to tailor the recommends products to your needs.
The Asset Protection & Elder Law Center is based out of California and does a good job of helping businesses protected their assets.