Car accidents, divorce, death, economic downturn, and most commonly legal battles are just a few events that would typically prompt people to protect their assets. But why must there be a threat to get people to act? Why must it take the thought of losing it all to drive urgency? As human beings, we tend to be very selective with virtually every aspect of our lives. However, what we don’t realize is that some things we neglect are often very important. As entrepreneur and vlogger, Tai Lopez, once said, “one of the pillars to a good life is wealth”. How can one ever experience a good life if protecting our wealth is only a thought in retrospect to a financial threat?
We must change the tradition. We must change our way of thinking. In my several presentations across the country, I always tell my audience, “When you understand what asset protection will do for you and your family, it becomes a standard in life, not an option.” In a world that is constantly changing and evolving, the need to be proactive is more crucial than ever. A person who is proactive takes initiative in anticipating future needs rather than responding to everything in the moment. Frankly, it’s a mindset that empowers you to truly wield the success you desire.
There is much power in being proactive. It’s the art of the present. Those who take action can prevent affliction. Imagine those who had the opportunity, but chose not to invest in Uber before it became a billion-dollar company – tough! When you wait until the last minute, you run the risk of losing it all. All the years you’ve worked accumulating wealth and what should be a part of your family’s legacy, can disappear in thin air if you simple choose to wait too long. That’s absolutely correct. The distance between being fully protected or being full un-protected comes down to one thing, a choice.
During my initial conversation with a potential client, I ask the client, “so, what brings you in today?” He briefly chuckles and says, “I was on a boat with my wife and kids, and it hit me, I need to do something to protect all I’ve accumulated over the years.” Compare that with someone who claims they’re too busy. Or who convinces themselves in believing the cost to protect all their assets will just be too much. Only to later deal with the reality while facing some sort of lawsuit when they’re about to lose everything. All it takes is one lawsuit. It doesn’t have to be a good one, just a winnable one – or one that’s able to instill the fear of God in someone who is so emotionally tied to their wealth that they would do anything and everything to settle immediately; settling away your children’s school tuition; giving away the ability for your family to go on a vacation. Oh, there goes the retirement savings.
So, what will you do differently for the new year that you neglected to do in 2023?
How can you maximize your now? Here are some action items that should help you decide what your next steps should be:
- Inventory your assets;
- Identify whether the assets are protected or un-protected;
- Consider what will it cost to lose your assets;
- Work with an experienced Asset Protection attorney to determine what strategy you can implement to protect those assets; and
- Implement the strategy.
Reach out to us at The Presser Law Firm, P.A. to ensure your assets are set up for success in 2024!