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What does asset protection mean?

Feb 5, 2021

Paul S. Labiner

Paul Labiner

Managing
Partner

As its core, asset protection planning is about mitigating and reducing risk, and it involves shielding your assets from creditors, predators, lawsuits, and disaffected family members. You can think of an asset protection plan as a kind of insurance policy that not only protects your wealth, but your financial legacy too by denying creditors access to your money, property, or business.

A primary aspect of your asset protection plan will be classifying your assets and turning “exposed assets” into “protected assets.” This process decreases the number of assets that are subject to creditor claims by reallocating them to various protected asset classes.

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