What Should I Be Careful of When Preparing an Asset Protection Plan?

A Video FAQ with Mary E. Vandenack.

An asset protection plan really needs to be customized to your individualized needs. What you want to do is look at your particular risks and exposures and why you are engaging in an asset protection plan. You also want to consider what state you are currently living in and what protections are provided by those laws. In that regard, you want to consider whether you are likely to relocate into another state that has different laws. If that’s the case, then you are going to want to consider those things that will apply no matter where you are located. One of the biggest mistakes people make in asset protection is they wait until it’s too late, they’ve got a creditor on their heels and start planning then.

© 2014 Parsonage Vandenack Williams LLC

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