What is asset protection? It’s exactly what you need, that’s what. With 94% of the world’s lawsuits filed in the United States, your odds of getting caught up in one are pretty high. Here are a few facts to prove it:
- More than 1 in 3 physicians have had a medical liability lawsuit filed against them at some point in their careers.
- 89% of dentists fear getting sued and 79% are concerned about its impact on their welfare and the way they practice.
- For small-to-medium-sized businesses, the average total cost of employment-related claims that resulted in a defense and settlement payment is $125,000.
The good news is that there are ways to protect your assets should the unfortunate event of getting sued happen to you. If you get sued and don’t have your assets protected, you can find yourself (and your business) in big financial trouble.
Lawsuits aren’t the only reason why you need asset protection. In the event of death, you probably assume your assets will be properly dispersed according to your will. While that is generally true, there are complications that often occur at death. This is especially true when substantial assets are on the line.
How to Protect Your Assets
There are 7 critical strategies that can be used as part of your personal asset protection plan.
- Choose the right business entity.
- Maintain your corporate position.
- Put the proper contracts and procedures in place.
- Purchase the right business insurance, including umbrella insurance.
- Separate your assets.
- Use the homestead exemption.
- Properly title your property.
While it can be a complicated and time-consuming task to ensure your assets are protected adequately, Legally Mine’s Asset Protection Program can make the process painless and affordable.
Legally Mine Reviews
Legally Mine has many, many happy clients who can attest to the value of our asset protection expertise.
“Legally Mine has been extremely professional and thorough in assessing my needs and the needs of my family and business. My only regret is that I did not use them years ago and if so, I would have been in a much better situation today. My blessing is that I now have them on my side to protect me and my family. They think of everything and are fantastic at communicating and making sure you understand the advice they are giving and what they propose to protect you. There are many opportunities at each step to ask any questions before they proceed. I highly recommend them for anyone who has a business or even just to be organized to protect any assets you might have, business or personal. I recommend them to many colleagues.” -H R Makarita
“I have been a client of Legally Mine, LLC for over 2 years. I am happy to report that they have been wonderful to work with. Our plan is complete, and the service we have received has been stellar.” -Dr. David Mruz
“Excellent experience from start to finish. The staff walked me through each step of the way to completion. A very sound asset protection packet specifically tailored to me. Would highly recommend this company.” -Pedro Troya
These clients (and many others) are happy to recommend the personalized, professional, and pleasant services offered by the experts at Legally Mine.
Legally Mine’s Asset Protection Program
If an attorney doesn’t have the expertise required to know every state’s specific laws surrounding true asset protection, it will be hard to be truly protected. That’s why a standard attorney who practices family, trial, or business law will not invest the effort or time required for proper asset protection.
Legally Mine has been helping professionals protect their assets for over 40 years and our experience in the area is second to none.