When you have accomplished your financial goals and you are in possession of a considerable store of monetary resources you may want to consider asset protection strategies.
We live in a litigious society, and divorce is very common as well. In light of these factors you may want to position your assets in an intelligent, measured fashion.
Asset protection is something that every high net worth individual should take seriously, but it is especially important for people in certain professions. For example, physicians are frequently targets of malpractice suits. People who own investment property are also particularly vulnerable in case one of their tenants has an accident on their property.
But even if you’re not in one of these professions you could be sued for any number of reasons. People can be especially anxious to go after someone who actually has something to take.
There are various different asset protection strategies that can be implemented. Placing assets into certain types of irrevocable trusts can be part of the plan. Family limited partnerships and limited liability companies can also be useful for families who are exploring asset protection options.
Our firm has assembled an extensive library of very informative reports on virtually every facet of estate planning. These reports are being made available to our readers absolutely free of charge.
A comprehensive report on the topic of asset protection is one of our offerings. If you are interested in learning about the tried-and-true asset protection strategies that exist we urge you to download this report at your earliest convenience.
To access the report simply click this link and complete the form that you see: Asset Protection Report.
Larry Parman
Author, President and Founding Attorney
Parman & Easterday
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- Why Wills are Such a Common Estate Planning Tool? - March 1, 2017
