Does everyone need an asset protection specialist?
An asset protection plan is intended to insulate your business or your personal assets from creditors in the event of a lawsuit or a claim against you. While most people may think this is unnecessary, we unfortunately live in a litigious society. Anyone can become a target of a claim or lawsuit, and your assets may be at risk.
If your asset protection plan is lacking, you risk losing your home or business. If you have not consulted with an asset protection specialist, or your assets and needs have recently changed, it may be time to review your asset protection plan.
How can an asset protection specialist keep my assets safe?
Asset protection specialists are able to help protect your assets using three crucial steps:
- Financial planning — Everyone’s financial circumstances are unique. Even if you think you will never be a target of a claim, anyone can become vulnerable, so it is important to prepare for the future. Your asset protection specialist will work with you to review your financial goals and create a plan based on your needs and values.
- Estate planning — Unfortunately, you may find yourself no longer in a position to manage your assets in the event of a claim. Planning ahead for this possibility can help protect your loved ones from losing your assets to taxes and creditors. Crafting a will and a living trust are both crucial steps in estate planning.
- Isolating your assets — Your home and business can be protected from lawsuits and claims through the use of proper titling, property insurance, and determining which assets are protected under the law. These are all legal means of keeping your assets safe in the event of a lawsuit or claim.
Can ProVise Management Group help me protect my assets?
Our CERTIFIED FINANCIAL PLANNER™ professionals are ready to serve as your asset protection specialists. Your assets can be protected from lawsuits and claims as long as your asset protection plan is in place now. Even if you think it may never happen to you, protecting your assets and your family’s peace of mind should be your first priority.
Talk to a ProVise CFP® professional about your asset protection planning
At ProVise Management Group, our CERTIFIED FINANCIAL PLANNER™ professionals can get to know you and your current financial circumstances, goals, risk tolerance and personal values to help you develop a plan that works for you. We can also create a written plan for you at a fiduciary standard of care. All our written plans come with an unconditional money-back guarantee. If you are unhappy with your written plan, you can return it to us, and we will refund 100% of the fee paid.
Are you ready to talk to a professional about protecting your assets from lawsuits and claims? Contact ProVise today to schedule a complimentary consultation.