Each year, approximately 15 million civil cases are filed in the United States. Many people believe Americans are sue happy, and these numbers are proving that it’s they aren't wrong.
As a business owner, you have worked hard for everything you’ve achieved. This includes all of your assets. While you may never have thought about a threat to your assets, you could actually lose them in a lawsuit if you don't have a reliable asset protection plan.
Besides lawsuits, an asset protection plan can help business owners protect their assets from judgments and insurance deficits.
You may not think your personal business is expansive enough to be at risk, but don't be deceived. Negligence is quite often unintentional and can happen at any time. Without coverage for this, it can lead to giant losses. In some cases, your business many not be the only thing at risk; your personal assets may be at risk as well. If you’re thinking this sounds scary, you now understand why it’s important to do something to protect your family.
How Asset Protection Helps Dads
Asset protection protects your assets by giving you a higher level of privacy. Your assets will be organized in a way that keeps it hidden from those who may be trying to take them from your family.
If attorneys can't clearly see all of your worth, specifically in assets, they often times will not bring a case against you. The cost to them and their clients would be seemingly higher than it's worth to take you to court if they are unable to obtain your assets to cover fees and turn a profit.
At this point, you may be wondering what your business insurance is doing for you if it’s not protecting your personal family assets. Your insurance protects your business, but not every part of it. Lawsuits can quickly deplete your insurance coverage as well, which means you’re left with a gap in coverage. This is where people lose their cars, boats, vacation rentals, savings accounts and investments, and even their family homes to cover the deficit.
With asset protection, you don’t have to worry about what your insurance doesn’t cover. You can feel confident that if a lawsuit happens, your family won’t lose everything you’ve achieved with your business. You can feel safe, never having to worry about your business going under because of someone’s harmful actions.
Asset Protection and Management
An asset protection plan isn’t like insurance in which you pay money into it and never get anything in return unless something bad happens. The American Society for Asset Protection provides asset management plus protection. With a team of financial experts, you will be able to make wise decisions regarding your business finances.
The American Society for Asset Protection manages and protects your assets. With it, your business is safe from lawsuits and any other situations that could put your personal assets at risk. Don’t run your business with a false sense of security. Protect everything you’ve obtained, so you can grow your business with peace of mind and financial security for your family.