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Asset Protecting
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Asset Protecting

List of Assets You Should Protect

* Family home or condominium;
* Vacation or second homes;
* Rental property;
* IRAs;
* Stocks and mutual funds;
* Life insurance;
* Bank accounts and CDs;
* Cars, boats, planes;
* Wave runners or motorcycles;
* Business entities (especially S- or C-corporation stock);
* Valuable collectible items;
* Other personal real property of financial value;
* Future inheritance for family; and
* Accounts receivable in a physician's medical practice.

In general, asset protection is about putting up as many barriers as possible in front of creditors to make it more difficult for them to get to these personal assets. Asset protecting is not about hiding or concealing those assets or about committing fraud to conceal assets from creditors. Good asset protection discourages lawsuits to the point where a client can bluntly state to a personal injury attorney that millions of dollars in assets are legally protected and, if the client is sued, completely out of reach due to asset protecting.