Everything You Need to Know About Asset Protection
Hundreds of thousands of dollars are lost every year because individuals and businesses do not have asset protection. It’s no wonder that individuals, insurers, and corporations are clamoring for legal and safe ways to protect their finances. Here, we’ll offer a brief overview of everything you need to know to make a wise, legacy-building decision to protect your assets now and for the future generations.
What Is Asset Protection?
Simply put, asset protection refers to a strategy or set of plans to protect wealth and other assets. Asset protection strategies can help keep your wealth where it belongs whether it’s real estate, investments, insurance, business ownership, or goods. It can also protect your personal information like health records and wills.
Why Do I Need It?
Without the right protections, your hard-earned money, property, and belongings can be limitlessly attacked by creditors, especially in cases where unexpected circumstances inhibit your family, loved ones, and decision makers from accessing the appropriate information to manage your affairs. These circumstances – like death, illness, or other forms of incapacitation – often lead to creditors taking investments. In the case of life insurance, it is often the reality that your beneficiaries don’t know how to access it. Securing assets can be as simple as setting up automatic notifications and communication in specific scenarios where you become incapable of carrying out those tasks.
Keep It Simple
Remember that you don’t need an endlessly complex financial labyrinth to keep your wealth safe. Complexity often keeps your assets out of the hands of your loved ones and throws up red flags for creditors to go hard and dig deep. Instead, keep it simple. With Legacy Armour’s simple, unique approach, you’ll keep more of what you’ve built up for the right people.
Don’t Hide Anything
It’s a glamorous and romantic thought to outsmart the law, hide your wealth, and stick it to “the man.” But let’s be real. Talk to any attorney in the field, and they’ll tell you that almost everything comes out eventually. And when it does, you’ll end up keeping less than you would have by being open. Don’t hide. Just be smart and use a simple, robust system to leave a legacy for your family.
Robust Asset Protection
It’s important to remember that asset protection is part of a robust wealth management approach. Legacy Armour’s asset protection services will help get all of your information into the right hands and keep your hard-earned investments where they belong. Add this to your portfolio as a way of ensuring tomorrow today.