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Online Asset Protection Quiz.

Some asset protection planners recommend only one specific entity or strategy for asset protection planning. Is one technique better than another?

<p></p> <p>Let&#39;s destroy that common myth. There&#39;s no such thing as a &#39;one-size fits all&#39; asset protection plan. But you&#39;re right. Some &#39;so-called&#39; asset protection planners do peddle that &#39;one quick fix&#39; or &#39;magic bullet.&#39; For instance, quite a few planners promote Nevada corporations as &#39;everybody&#39;s&#39; asset protection answer. Others sell only international trusts or limited partnerships. However, these entities are only one of many possible firewalls. That&#39;s all they are. But are they <em>your</em> right firewall. Your planner must offer you the entire range of protective firewalls because any one firewall is only one more tool in the planner&#39;s toolbox. No one firewall is <em>everybody&#39;s</em> lawsuit-proofing answer. A good planner adeptly uses <em>every</em> possible protective tool. </p> <p>For example, you want a planner with expertise in both international and domestic (U.S.-based) protective strategies because if you have a high net worth you&#39;ll probably need <em>both</em> domestic and international planning. Your planner must skillfully provide both. Yet, few planners have this dual expertise. The point is to choose a planner who can give you the complete arsenal of protective tools. Anything less reduces your options and protection. It&#39;s common sense. Would you go to a physician who prescribes the same medication to every patient?</p> <p>Nor is it simple to customize your one <em>best</em> plan. Your planner must consider many factors: 1) your state laws, 2) the nature and value of the assets to be protected, 3) the liability (if any) to be protected against, 4) whether you need preventative or crisis planning, 5) your financial (estate planning, investment, and tax) situation, 6) the strategies you&#39;ll be most comfortable with, 7) costs, and 8) your personal situation (age, marital status, etc.). And there are other issues and considerations. Only when we expertly blend these many considerations do we arrive at your best plan; but it&#39;s only your best plan at that given point in time and against a given danger &ndash; if one exists. Customization is the essence of good planning. &#39;Cookie cutter&#39; planning is bad planning.</p>

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The Presser Law Firm, P.A. - Asset Protection Attorney
Located at 6199 N. Federal Highway Boca Raton, FL 33487. View Map
Phone: (561) 953-1050
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