Protect Your Life Insurance in California - Incorporate in
Nevada!
September 16, 2004
By Michael Joseph
Can I get asset protection of California
life insurance? Can the state of California seize
my life insurance and other assets? The answer is
a solemn yes. Despite California's reputation as a
creditor friendly state, it also has the highest number
of lawyers and the highest rate of lawsuits in the
whole of the United States!
With such a high rate of lawyers suing
companies with petty litigations have seized millions
if not billions in personal assets including things
like life insurance. No wonder that a "flee to
Nevada" mentality arose among Southern California
business owners.
What does this have to do with me? Simple, if individuals
and business owners can be sued for petty reasons and have their
assets seized then yours can be seized too! But, by protecting your
assets through a trust or become incorporated outside of the state
of California can you keep superfluous lawsuits from seizing your
assets. Is my life insurance one of my assets?
Yes it is and should be protected as it is a monetary settlement
given to your family due too untimely death. If these funds are
seized and you happen to die, what would happen to your family?
How would they be able to afford funerary cost? How could they get
by without your paycheck? Theses are grim and terrible questions
to think about, but necessary if you're serious about protecting
your family's future and their well being after you're gone.
Once you found a group, a trust or corporation that suits you and
your needs you can now work to protect your assets from superfluous
litigation and other legal risks so that you might have a secure
legacy to give to your family, really isn't that what we all want
isn't it?
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