The Law Office of Adam I. Skolnik, P.A. » Asset Protection

Asset Protection

What is Asset Protection and why is it so important?

We live in a financially risky world; one where people unexpectedly lose their assets.  Asset Protection is a proactive, holistic system of legal and financial tools and strategies that preserve wealth and assets in all forms from loss, waste or spoilage. More families, individuals and businesses get sued or go bankrupt each year.  Because it can happen to anyone, so many people today are anxious to protect their wealth; they seek financial security and want peace of mind.

Is Asset Protection only for the wealthy?

Absolutely not! It’s true that America’s wealthiest families were traditionally deep pocket defendants who were most concerned about shielding their wealth.  The social elites of past eras sheltered their massive wealth with trusts, family corporations and other protective entities, which privatized or lawsuit-proofed their properties; however, they seldom referred to their financial strategy as ‘asset protection’. But the super-rich is no longer the only lawsuit target — Americans with any assets now need protection.

What can be protected?

Almost everything, a partial list of the assets that can be protected would include:

  • Investments like cash stocks, bonds and etc.
  • Residences
  • Investment Real Estate
  • Interests in Businesses
  • Valuable personal property like Art, Jewelry, Collections
  • Business Equipment
  • Future Income
  • Cash Value of Life Insurance Policies

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