Protecting your assets is not too costly. And it probably won’t take more than several hours of your time. The average family can usually gain good protection for a few thousand dollars, sometimes less. We frequently shelter large fortunes for less than a fraction of what their investment advisor charges each year, and many protective steps cost absolutely nothing. But you have to see it in perspective. A doctor and prospective client once complained to us that he did not have the spare cash to set up the few entities he needed to safeguard his $3 million net worth. He thought the proposed $15,000 fee was too costly. However, this doctor spends $65,000 a year for malpractice insurance. This $65,000 policy covers only malpractice claims – and only up to one million dollars per claim. Next year the doctor will pay another $65,000 (assuming his premiums don’t increase) for the same limited protection. In comparison, we offered this physician complete protection against any lawsuit, in any amount, for the rest of his life, all for less than one-fourth the cost of what he pays each year for malpractice insurance. So which is the better deal – insurance or asset protection? Don’t think of asset protection as an expense. It’s an investment – and a great investment – if you want financial security!