Lawsuits are war. Asset protection provides the defenses you need to fortify yourself against future attacks on your wealth!
What Is Asset Protection?
Asset Protection is the legal process of protecting your personal and business assets by putting them beyond the reach of future potential threats and creditors.
Asset Protection is not about hiding your possessions or avoiding responsibility, it is about limiting the risk from litigation and structuring your property so that you don’t lose your life’s work in a single lawsuit.
If lawsuits are war, Asset Protection is the establishment of defenses or barriers before the war begins, and if successful, these defenses should reduce or prevent the chances of a war and promote a settlement or treaty in the event of an actual conflict. The more barriers between you and the attacking army the better your asset protection.
Do I Need Asset Protection?
Lawsuits are Out of Control and That Puts Your Wealth at Risk!
- More than 20 million civil lawsuits were filed in 2018.
- The Plaintiff wins 56% of the time with an average final award of $28,000.
- 4% of Plaintiffs win $1,000,000 or more (percentage is increasing).
- Frivolous lawsuits cost Americans more than $200 Billion a year (half of that goes to lawyers).
- Most Americans strongly agreed that the justice system is used by many as a lottery, to start a lawsuit and see just how much they can win.
- Even if you successfully defend a lawsuit, it can cost you tens of thousands of dollars in attorney’s fees and expenses.
What If I Don't Have Much?
EVERYONE needs some form of asset protection. In fact, the average person with $100,000 in assets needs protection more than a wealthy person with $5,000,000 in assets. If the wealthy person loses a lawsuit for $1,000,000, she will have enough assets to pay the judgment and still have $4,000,000 left over. The wealthy person won’t want to pay that amount, but she will not be broke after paying. If the average person loses a lawsuit for $1,000,000, she would lose her entire savings and still owe money. Her ability to save and build wealth in the future will be catastrophically wiped out! The average person stands to lose a greater percentage of her wealth and thus would need asset protection even more than the wealthy person who can afford to pay that judgment.
Everybody needs Asset Protection and a good Asset Protection plan should be individually tailored to protect your current and future assets, even if you don’t have many assets now.
WHAT IF I ALREADY HAVE AN ASSET PROTECTION PLAN?
A reliable Asset Protection plan needs to be reviewed on a regular basis and adjusted to meet your specific current needs, circumstances, and property.
Assets change, circumstances change, laws change.
Make sure your plan is up-to-date and you are protecting every asset. It is easy to acquire property in the course of your life but forget to update or restructure your plan. Our Confidential Risk Assessment Questionnaire can help you identify areas of risk so you can make needed adjustments now, before it’s too late.
Take our free risk assessment test and see if there your assets are at risk.
3 RULES OF ASSET PROTECTION PLANNING
His invaluable, from-the-trenches insights have saved his clients millions of dollars and has made the difference between successful investing and life-altering mistakes.”
– Robert Sproat, President of the Phoenix Productions Group, Inc.
IMPORTANT CONSUMER INFORMATION
The choice of a lawyer is an important decision & should not be based solely upon advertisements.
These materials have been prepared by the Supernus Business & Law Center for informational purposes only and are not intended as legal advice. Transmission of this information is not intended to create, and receipt does not constitute, an attorney-client relationship between the sender and receiver. Internet subscribers and online readers should not act upon this information without first seeking professional legal counsel.
Jedediah McClure, J.D. is a best-selling and award-winning author, business professor, investor, entrepreneur, and former business executive turned attorney. He has built multi-million dollar companies in multiple industries, is an accomplished public speaker, and has received wide-spread praise for his ability to educate and inspire others. He has been featured on NBC’s Dateline, Investigation Discovery, the New York Times, and Bloomberg BusinessWeek.
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