Asset protection is synonymous with “wealth insurance”. Just like you would have fire insurance coverage for your home, asset protection is wealth insurance. If you consider planning the protection of your assets like an insurance policy, the point gets clear pretty quick. You don’t wait until you have an accident to purchase protective coverage, and the same goes for protecting assets, you implement your coverage and maintain it. Imagine a family who’s home was lost to a fire that didn’t have insurance, or the individual who was uninsured that caused an automobile accident. These types of incidences could wind up being total loss cases, devastating.
You can insure your wealth, and future wealth, with an asset protection plan in place. Planning ahead is far more palatable than hindsight and regret. The best result you can possibly have is that you never need to protect your wealth from a threat, just the same that you hope you never make a fire insurance claim. It’s there when you need it and for those who failed to plan ahead would all wish they could rewind the clock, create a skilled asset protection structure and know that their lifetime accumulated wealth was protected.
In order to create a well defended asset protection structure, it must be done before there is legal trouble brewing. Before your business partner dispute, before the divorce and before an accident. Transferring of assets in an attempt to protect them once a legal threat arrises is recognized by most courts as fraud. The proper conveyance of assets is conducted as planning for your estate and asset protection; when your wealth is organized into a protection plan without any liability, it defends itself. Anything else is high risk or very tricky to defend which are both weak points in the structure.
Make your asset protection plan, fund your legal structures and establish ownership, properly and lawfully with the help of an experienced professional during times of no legal duress.