Asset Protection Is Insurance

You buy insurance before you need it. Why would you not protect your assets before you need to? Proactively protecting your assets before you need to ensures your ability to keep your assets in tact. Protecting your assets will take time, money, and patience, but protecting your assets now is your best course of action.

You Worked Hard for Your Money. You should Keep It.

You have worked your whole life to acquire your assets. You should be able to keep them. Too often, clients find they have not properly prepared themselves with asset protection strategies and they can quickly lose many or all of their assets. People most often find asset protection valuable for:

  • End of life planning
  • Guardianship
  • Business planning
  • Property injury claims

We live in a litigious society. While most often we only think of the extremely rich being sued because they have deep pockets, people from all walks of life are sued on a regular basis. A mail courier could slip and fall on the ice that built up on your driveway. You could get into a car accident that is your fault and your insurance doesn’t cover all of the costs of the injured person. You may need end of life care that your insurance doesn’t cover. 

All of these scenarios, and more, can happen to any person, regardless of their wealth. Every person can help protect their individual wealth, though, by ensuring they prepare before something bad happens. That’s why it’s important to work with the trusted asset protection lawyer, like an asset protection lawyer in Chandler, AZ, to prepare your asset protection strategy.

Asset Protection Is Not only for the Wealthy

Every single person can benefit from asset protection planning. Quite obviously, high net worth individuals, families, and business owners can benefit from asset protection planning. So can the middle class, though. These are actually the clients attorneys often find need asset protection planning the most. In fact, many middle-class clients are surprised to learn they have vastly undervalued their own net worth. 

Asset Protection Is Unique to each Person and Family

Do not let a lawyer tell you they have a one size fits all asset protection plan for you. That doesn’t exist. There is no one solution to help every person, as each family, individual, and situation is different and must be treated that way. 

Questions for Evaluating Asset Protection Attorneys

When you meet with an asset protection lawyer, make sure you ask them:

  • How do you keep up on changing state laws?
  • Specifically, how would they protect your assets?
  • How the asset protection plan changes your existing estate plan?

Do not settle for a one size fits all solution. An asset protection attorney can answer all of the above questions for you, and more, to begin creating a plan that is as unique as you are. Contact an attorney today to get started on your asset protection plan.

Thanks to Citadel Law Firm for their insight into how asset protection is essentially insurance on your belongings.