HAVE YOU COVERED YOUR A$$ETS? BILL WALSTON
f you are a real estate investor, you
need to cover your assets. If you own
a business, you need to cover your
assets. If you own a home, you need to
cover your assets. Let’s face it folks, if you
have some money and assets saved up,
you need protection.
Asset Protection is not just for the
super rich!
Many of us view asset protection as the
playground of the super rich. In reality, we
should emulate the super rich and use the
same tools and strategies they use to not
only create wealth, but to keep it as well.
Here are a few tips to get you started.....
Keep a low profile. Though it is not something we like to think about, the good old USA is one of the
most litigious countries in the world, and people file frivolous lawsuits every day. A flashy lifestyle is like
chum in the water to lawsuit-happy lawyers and litigants. If people think you are “asset rich,” your chance of
being sued skyrockets. However, they are less likely to file a lawsuit against you if they don’t think you
have the money to pay a settlement. One way to lower your profile is to not title your assets directly in your
own name. Instead, use trusts, limited liability companies, family foundations, or other asset holding
entities.