Why Do Asset Protection, My Annual Rave

Date: April 06, 2006

Last week, my newsletter dealt with what Asset Protection IS NOT. I alerted you to several hints as to how you could be scammed.

Today, I want to tell you WHY it is important that you are Asset Protected.

It starts with the belief that we live in a hostile world. If you don’t take control of your destiny somebody else will. Normally, this “somebody else” is a contingent fee lawyer (a.k.a. professional taker) who will take you for everything they can reach. These professional takers do not ask what is right or just; instead, their normal question is “How much can I collect?”

This point of view is jaded at best. It is SAD. The problem is that our out-of-control judicial system (which we are stuck with in the USA, whether we like it or not) permits and even encourages bounty hunters such as contingent fee litigators to have their way with you if you are unprotected.

As long as you choose to remain tied to our system, you are stuck with dealing with these bounty hunter lawyers. They look for unprotected wealth and go after it if they perceive it is reachable with a simple lawsuit.

Now that you know that I have a warped perception of human morality (I assume all litigation lawyers are hired guns and after money without concern as to the right or wrong of their cases) you are in a better position to understand what follows.

WHAT ASSET PROTECTION IS
Asset Protection is a state of mind. It is a series of steps each built on the assumption that there is some greedy bastard out there ready to take your hard earned savings away, if they can.

Asset Protection is NOT a PLAN. It is not some pile of papers, whether 3 pages or 8 inches thick, which “protects” you from the eventual onslaught. Instead, it is a series of small steps that are part of a PROCESS.

Asset Protection is composed of small steps. It involves simple things such as homesteading your home and being careful not to hug your secretary on his or her birthday. (Sexual harassment cases are a major part of my work.)

Asset Protection is nothing but a process of making yourself a smaller target. Maybe you want to drive a Bentley or a Rolls. WOW, what a mistake. Count the cost. If you do, you will be perceived as “rich” and therefore a target. If you do, you better have serious Asset Protection in place before you drive by the local bar association.

It is important that all people who choose to submit to the U.S. judicial system (and you do make this choice by choosing to remain in the USA) realize that they are targets. NEVER depend on the judicial system to protect you. It will not. I have reached the point that I believe that one of the main purposes of our system is to redistribute wealth (from those who have to those who have not).

If you choose to remain in the USA and submit to our out of control legal system you must count the cost. The biggest cost is that you must modify your life style.

The cost of living large in the USA is lawsuits.

Perceived poverty is the best form of Asset Protection. Fortunately for me, most people with wealth do not want to do this.

Their only solution is to take the steps to put their wealth beyond the reach of the professional takers, contingent fee lawyers. They implement a full-blown solid plan.

The reason I disclose my jaded worldview is that the attacks only come when you are perceived as having substantial wealth. When you are gathering wealth, you normally have a window when you can safely engineer proper and solid protection.

It is no secret. In the USA we have 7% of the world’s population and 94% of the world’s lawyers. WHY? Our system is out of control.

This rant is because I want all readers to know that they are in danger and should do something every day to protect themselves. When they are the principal of the local high school they may be hassled a bit. When they invent the next software to protect high school kids on the net from the millions of pornographers out there they will be attacked. WHY? Because they are perceived as rich.

The golden rule: Protect yourself while you can.

The world is not fair, and if you want to stay in the USA and have wealth, you better protect it.

WHEW. The rant is over. Next week, you will get some good technology.

ABOUT THIS EDITOR:

Rob Lambert, Founder and former law professor is considered to be foremost expert on tax compliant asset protection structures. A contributing editor to Lexus Nexus debtor creditors series of law books Rob's passion is implement client wealth plans that stand the test of time and hold up under duress.

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