Do you think that you don't need Asset Protection? That you're too poor; that you have too few assets to protect; that you're too careful; that nobody would sue you? Or maybe you think you’re protect because you have a trust. Nonsense! Let's tackle these myths one-by-one.
Wealth is Relative
If you consider yourself too poor to need Asset Protection, how would you feel if you lost what few assets you do own? Your rusty old car and tiny bank account are mighty important when it's all you own. I get calls from people throughout the country worried sick about lawsuit or creditor problems. These hard-working folks sometimes have no more than a few bucks in the bank. Still, their wealth is precious to them. Protecting their few assets is as important as protecting a millionaire's millions!
Life is a Financial Minefield
The second myth is that you can't foresee anyone suing you. No, you don't need to be negligent, a lawbreaker or a deadbeat to lose your wealth. Even the most cautious and prudent among us get side-winded. Bad things happen that may not be your fault. And since bad things can happen to good people, they can happen to you.
No One Is Immune to Lawsuits
I hear crazy stories about how suddenly someone's life has been turned upside down because of a lawsuit. Ask the 82-year-old client who accidentally drove her car through a supermarket window, or the landlord sued for lead paint on his old building, or the school teacher defending a $5 million lawsuit because she dismissed a student caught cheating on an exam. These people never thought they'd someday get sued. One day they were going about their lives, and the next day they are spending thousands of dollars defending against a wealth-threatening claim from nowhere.
A Living Revocable Trust Doesn’t Offer Asset Protection
The Revocable Living Trust is very popular in America. A living trust helps you avoid the cost and delay of probate. You can also avoid the dangers from jointly owning assets.
But here’s the downside: a revocable living trust won’t protect you from lawsuits. Though a revocable trust doesn’t offer lawsuit protection, you have the comfort of knowing that you can change or revoke your living trust as often as you can revise your will.
Life is unpredictable. Nowhere is it less predictable than when our firm talks about litigation or other financial hazards. You think you're safe. We know better!
Contact The Presser Law Firm, P.A. for a complimentary preliminary consultation with one of our experienced attorneys today.
The Presser Law Firm, P.A.
6199 N. Federal Highway, Boca Raton FL 33487
(561) 953-1050 or e-mail Info@AssetProtectionAttorneys.com