Asset Protection: How to Lock Up Your Valuables


Now more than ever, people with wealth are “sitting ducks,” particularly if they have real estate holdings or significant professional incomes. Consider the following: More than 90 percent of all lawsuits in the world are reportedly filed in the United States, and 78 percent of defendants in those suits thought “it could never happen to me.” According to the National Center for State Courts, more than 18 million incoming civil cases were filed in state courts in 2007 (the last year of full reporting) representing an increase of more than 4.5 percent from the previous year. Anecdotally, the numbers have risen even more dramatically as the economy has shifted downward. That is why asset protection planning should be an important part of every estate plan.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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