Asset Protection is Not Just for a Grand Slam (avoiding death by a thousand paper cuts)

An asset protection technique based on one single, hoped-for grand slam (such as implementing only an off-shore trust or domestic self settled trust) is unrealistic and inadequate for most clients. 

By contrast, there are a large number of asset protection factors that each of us can be aware of on a day-to-day basis to help reduce our exposure, and so as to avoid facing death by a thousand paper cuts.

Thus, keeping in mind this array of asset protection factors, a more realistic goal of asset protection can help (i) decrease the target area of your exposure, (ii) place someone else (typically your insurance carrier) on the hook for the time and expense of defending you if claims arise; and (iii) keep your assets out of the easy reach of potential claimants.

As part of this legal blog I will periodically post a discussion of various asset protection factors that appeal to a broad base of individuals, not limited only to the super-wealthy.

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