Personal Wealth And Personal Asset Protection Is A MUST! Have you ever really thought of risk and risk management, especially when it comes to your personal wealth and asset protection? No, I mean really. Not just that there is risk in life, but what risk do you face from the time you get up in the morning until when you go to bed at night and, if you have any enterprises that operate at night, even when you are sleeping. Don't worry if your answer is "no" as you are not alone. Let's examine risk for a minute. There are certainly types of risk that are beyond our control: the driver's of other vehicles, disease, dishonest partners and associates and the list goes on if we consider the actions of others but when it comes to personal wealth protection and personal asset protection we all should have risk management insurance... However, we are also surrounded by risk that we do have control over and if we are diligent we can protect ourselves from. Before moving on, can anyone provide me with a good excuse for subjecting yourself to a risk that you could have otherwise avoided? Are you willing to lose your home when you could have prevented it? How about your retirement? How about any other assets you have worked so hard to obtain? If your answer is yes to any of the question in this paragraph, you should stop reading because you are wasting your time. If on the other hand, these things are meaningful to you and you want to eliminate the risk of loss, please read on... The loaded term that is often used is "risk management." This term contains a number of subordinate and related terms such as "wealth protection", "asset protection," "risk reduction' and "risk planning." Whatever we want to term it, the goal is to order your life in a manner that creates the least amount of risk and protects to the greatest degree legally possible, those assets that you have worked so hard to obtain and maintain. Many people do not realize that the failure to properly order their lives, whether they are in business or working for someone else, can place, and often does place, their personal assets at risk. Now for a set of rhetorical questions: Is the United States becoming more or less litigious? Will people, and their attorneys, continue to look for ways to create new causes of action and thereby new damages? Will the cases and damages become more or less ridiculous? How many more $8,000,000 spilled coffee cases are coming? As an attorney, I can tell you that we are only seeing the tip of the iceberg. I say this with no pride and in fact, with rather a large amount of lament for what was once a noble profession. But, reality is as we now find it and these plaintiffs and attorneys will be constantly searching for ways to take from you what you have worked so hard to earn. You may be asking yourself where to start. Risk Management is the first step and then, especially if you are running a business, is to incorporate business or organize a Limited Liability Company or perhaps some combination of both. You can then imagine a dividing line and you place business assets on one side of the line and personal assets on the other side and, as they say, never the twain shall meet. You can use the LLC as a passive entity to hold property and other assets if you are so advised by your legal counsel. Your next step would be to purchase Corporate Veil Piercing Insurance. This type of insurance this
puts a 1 to 2 million dollar shied between any plaintiff and your personal assets and also provides for a legal defense fund. If your business were attacked, could it withstand a $300,000 attorney bill (and it could be much more) not to mention a significant judgment? - now it can. At the end of the day, you will be participating in the most state of the art program designed for personal wealth protection and asset protection against the risk of which we DO have control. Do not let others have an open door to your hard won wealth, assets and personal life. Click Here to Learn About Wealth Management and How You Can Retire Early