Would a good asset protection plan also help me avoid liabilities?

Yes. A good asset protection plan must do more than protect your assets from lawsuits. It should also limit your liability. You can, and must, insulate yourself personally from business and other foreseeable liabilities. Your goal is to limit creditors to the fewest assets possible. When you title your assets to different protective entities, any one lawsuit will jeopardize the fewest assets possible. For instance, a plan to shelter a business owner's personal assets is incomplete unless we also limit the creditors of the client's business to the assets of that one business. Good protection both minimizes liability and lawsuit-proofs wealth.