What Do You Get The Person Who Has
Everything For The Holidays?
Consider One Of The Most Practical Gifts Imaginable,
Asset Protection Attorney Suggests
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has been featured in multiple publications).
Most people have experienced this problem as birthdays or the holiday season
approaches: What can you possibly get as a gift for the man or woman who
is financially well off?
“It’s a pretty good problem to have, isn’t it? –
Your loved one has achieved a level of financial comfort in life that
has enabled him or her to live free, mostly, of financial stress,”
says attorney Hillel Presser of the Presser Law Firm, P.A., whose firm
specializes in comprehensive domestic and international Asset Protection.
“Of course, the ‘good problem’ comes with an associated
risk, because financial comfort and stability means you have something
to lose. Surprisingly, most well-off people have taken little to no measures
to protect what they’ve worked so hard to attain.”
Nobody is safe from financial threats, which can happen to people when
they least expect it. Helping a family member initiate steps to take protective
measures may be the best gift they’ve received in years, says Presser,
author of “Financial Self Defense” (www.assetprotectionattorneys.com), who explores some of the many benefits of protection.
• You don’t have to be super-rich. Anyone with any assets can benefit
from legal protection. The average retiree with a nest egg can lose it
all by seemingly frivolous yet successful lawsuits against them and younger
people who are starting out in life can get a head-start by safeguarding
their future wealth. Lawsuits, divorce, bill collectors and many other
financial hazards have the potential to impoverish individuals and their families.
• Asset protection applies to individuals, families and business owners.
Homes, cars and bank accounts may be affected in the event of a lawsuit
– whether it’s a personal suit or one targeting the business.
E-commerce businesses, for example, may need more financial protection
than traditional businesses to cover their wealth of intangible assets,
including domain names, website content, intellectual property, trademarks
• Liability insurance often isn’t enough. Liability insurance is a
great place to start financial shielding, but it’s not a good end
point. Most lawsuits and other financial claims aren’t insured,
or you have too little coverage to fully cover claims, or an insurance
company may deny coverage on a claim due to some exclusion. Unfortunately,
insurance covers few financial catastrophes.
• Allow an investment to ease your mind, for a change. How much would you
pay a good investment advisor to help build your wealth? Perhaps 1 to
2 percent a year? That money is paid whether or not money was made or
lost on the investments, which tend to be stressful. To ensure protection
of your wealth, you’ll pay less, and protection is a one-time investment
– not annual. Most families can shelter their net worth for less
than they’d pay for a modest vacation.
YES, YOU CAN LOSE EVERYTHING!
You may think that your wealth is safe and that you don't need protection.
But don't delude yourself and accept reality — for every 60
minutes you spend making money, spend 60 seconds thinking about how to