Fight Back Against Lawyer with an Asset Protection Trust

September 10, 2004
By Michael Joseph

Asset protection trust, what does this mean to me? It means an effective and inexpensive protection against legal risks faced by your assets such as liens, sources of lawsuits, judgments, and other legal difficulties.

Why would someone like me need a trust? If you have assets that you wish to keep secure than a trust might just be for you.

For instance threats to your assets usually come from these sources: Divorces, environmental hazards, employees, creditors, bankruptcy, tax agencies and authorities, business customers, business competitors, business regulatory agencies, rental property accidents, lead paint hazards on home or rental property (which is not covered by most insurance policies), guest accidents at home, joint ownership of real estate (when the other joint tenant gets sued, divorced, etc.), involvement in partnerships, corporate officer and director positions, advisory board positions, and leadership positions in civic organizations.

How does someone like me find out more about trusts and what they can do for me? The internet is an invaluable resource for the savvy consumer who wants a wide field to study all the possibilities, pros and cons of every group or plan. But, you should be wary as some sites might be fraudulent and desire only your money, if you have doubts as to the legitimacy of a group contact the Better Business Bureau for more information. Your assets are important to you and your family so research a trust with a critical eye and numerous questions.

Once you found a trust group that you wish to do business with, remember to get all agreements in writing and before signing anything go over it with a trained financial lawyer. Failing to do so may put you and your assets at unnecessary risk.