Asset Protection
Needs Significant Evaluation!

With the advent of the “sue everyone in sight” syndrome, Asset Protection is a significant matter for everyone to evaluate. Think about the following.

Suppose you are driving, there is a mechanical malfunction, causing the vehicle to careen into a group of school children, killing 10 of them. What are the serious ramifications of this occurrence?

At the very least, numerous lawsuits would ensue, against:

• the manufacturer;
• the owner, and;
• the driver

of the vehicle.

If one was successful in proving the mechanical malfunction, the sheer expense of defending the lawsuits is astronomical. As a result, assets owned by any of the entities are at risk.

If the vehicle was:

1. owned by a corporation with limited assets and;


2. driven by a driver who owned absolutely nothing,

what assets would be at risk?

From the time we are children, we are taught the value of self-worth and self-sufficiency. In doing so, we are trained to be proud of our accomplishments and asset accumulation.

These are dangerous areas weighed against Asset Protection. The “I own” syndrome, which pride dictates, generates an abundance of trouble, providing you want to protect your income and assets.

In order to protect our assets from potential liability, a valid plan must be implemented. It is possible, in a mere heart-beat, to experience an adverse incident, possibly not of our own making, creating catastrophic risk to all of your assets.

Whether you are in business or employed, you must create a Shield of Asset Protection rather than attempt to protect the assets after an unfortunate event. We strongly recommend you give consideration to separate asset ownership by a corporation or business trust.

If you need further info on corporate or trust structure, see:

Our Risk Management page; or

Our Personal Assets page; or

Our Income Protection page.

It is very important for you to check with your accountant and lawyer to set up a shield unique to your situation.