Asset protection planning is taking proactive steps to protect your personal or business assets and income before there is a legitimate threat or claim against you or your business. This is not giving away or transferring your assets to other parties, that carries its own risks, nor hiding your assets, but organizing and compartmentalizing your assets in order to isolate and protect them from creditor claims. Some asset protection planning you can do include:
- Insurance. Liability, property, life, auto, business, E&D, D&O, cyber and other types of insurance should be considered and acquired to protect you and your assets in