In our lawsuit landscape, every business owner knows they need good insurance as well as a good attorney on their side. However, with the loopholes in today’s laws, these two things may not be enough to protect your personal assets from being seized if you’re sued.
That’s why you need to take asset protection seriously. Legally Mine provides asset protection advice that you can use to get the protection you deserve.
What is Asset Protection?
Asset protection is an umbrella term that covers the concept of and strategies involved in guarding one’s wealth, typically from lawsuits or creditor claims.
Asset protection strategies include:
- Forming proper business entities
- Using asset protection trusts
- Having jointly-held property
- Meeting annual requirements to keep legal protections in place
- Purchasing a comprehensive insurance policy
- Avoiding scams
There are many other asset protection strategies that can be employed to protect yourself, but knowing the ins and outs of the law and putting it all properly in place can be nearly impossible without the help of an experienced asset protection attorney.
Why is it Important to Have an Attorney Who Specializes in Asset Protection?
“Why can’t my own attorney provide me with asset protection advice?”
The question is common, and the answer is that it requires unique specialization to be able to offer full protection. Attorneys often stretch their knowledge to cover a wide set of laws in many different categories. However, asset protection requires considerable time and attention to learn the intricacies and complexities in one specific area in order to achieve maximum protection.
Many business owners don’t realize that most any lawsuit can cause their personal assets to be up for grabs. They can include:
- Creditor Claims: This can come from any debtor claiming you owe them money.
- Contract Claims: This is a supposed breaking (or breach) of an oral or written agreement.
- Property Disputes: These arise from property ownership, land, boundaries, trees, noise, etc.
- Discrimination or Harassment: A claim alleging unequal treatment based on a legally protected characteristic such as disability, age, gender, race, religious affiliation, etc.
- Tort or Personal Injury Claims: This includes harm caused by negligence, defective products, malpractice, etc.
- Family Law Cases: This includes divorce, child custody and support, property distribution, etc.
As you can see, protecting all your assets for all of these scenarios can get complicated and confusing. Having a Legally Mine asset protection attorney on your side will help you to be completely covered for any unfortunate occasion that may arise throughout the duration of your estate.
Contact Legally Mine for More Asset Protection Advice
Even though lawsuits are so common in the U.S. and businesses need asset protection, few attorneys specialize in asset protection. Because of that, the ones who do charge exorbitant rates for their services.
However, Legally Mine has offered expert guidance in asset protection for over 40 years and our volume of clients allows us to charge much less, even though our experience is second to none. We are willing to invest the time and effort required to get you the asset protection you need to keep your financial worth in your own hands.
Learn more about how Legally Mine can help you protect your assets!
