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Does It Fit Your Life?

By Rob Lambert - Email Editor

Date : April 16, 2009

Dear Valued Reader,

Life is short. It isn’t long before it is all gone. We men don’t realize this until we have our mid-life crisis at about 40. I am now 18 years past that, and now realize for sure that I am mortal and that every day is to be cherished and respected.

Why am I waxing eloquent about stuff like this when I am supposed to be writing about Asset Protection?

Simple.

This is why the first question I ask each new client is: “Where do you want to be in 15 years?” The second question is: “What are your life dreams and goals?” On the surface these are irrelevant questions. In reality, they are probably the most important. WHY? Again, the answer is simple and relates to the absolute fact that any plan will change your life.

An Asset Protection Plan, if done wrong, is like a spinal fusion that does not work. Each time the person with the bad fusion moves, whether it is to turn over in bed or to get out of a taxi (if he can indeed do this at all) he is reminded of that “damn surgery-happy doctor.”

Asset Protection will change your life. However, when done properly, this impact should be only in a positive direction. Any plan, simple or complex, when properly done, should ideally be both transparent and invisible to the rest of the world. By “transparent” I mean that the Asset Protection Plan causes little trouble to the person creating it. Yes, it is a little more accounting and a few hours of work here and there; however, when properly done, a plan lets you go on with your life doing what you like the way you like to do it…whatever that might be. By “invisible” I mean that most, but not all, solid plans have an element of stealth. At least with Kinetic Asset Protection Trusts, it is typical that the rest of the world does not know of the existence of the Trust or the ultimate holding structure. Remember, all planning should assume that your opponent (the dreaded “creditor”) will eventually acquire full knowledge of your plan. Any good plan does not depend on stealth and will work perfectly even if this happens. Even so, you should remember, one of your best defenses is stealth. What creditors do not know about they cannot take.

The reason I ask all new clients about their future plans and their life goals is that I never want to do a plan that gets in the way of a person achieving their goals and reaching their potential. I do not want to be that doctor who did the spinal fusion I talked about above. Some potential clients, and many Asset Protection Planners out there, propose plans that are maintenance heavy and not often effective. Remember, in this Asset Protection world simple and elegant will work better than complex and convoluted. KISS (keep it simple stupid) is a good motto to follow when considering Asset Protection.

There is a breed of Asset Protection consumers who want only the fanciest and most complex plans constantly updated and refined. For each of these consumers there is a provider willing to sell him exactly what he wants, for a price. I am writing to say that this is not necessary if you do your planning correctly at first.

You all know that I think Asset Protection Planning is important and appropriate for every living soul who has two nickels to rub together. However, Asset Protection Planning should not be the tyrant that robs you of time to focus on the important. Choose to do planning that is effective and simple. Always ask yourself if the proposed planning is going to focus your attention away from the important and onto the urgent. If so, get a second opinion. You don’t want your plan to be like the bad spinal fusion.

Have a healthy and protected week.

Rob Lambert

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