The benefits of Asset Protection and Planning
How many million-dollar lawsuits against homeless people do you hear about? None. That’s because lawsuits aren’t filed against poor people; they are filed against those with enough assets to make the expense of litigation worthwhile.
We all need to maintain an acute awareness of what can happen in ‘the modern jungle.’ None of us want bad things to happen to us and our families, such as bankruptcy, creditors, predators, gold-diggers, the ATO… but we need to keep our guard up against others who may not share our foundational assumptions of fair play and justice. Other, perhaps more aggressive ideologies, could run right over our sweet & trusting natures if we let them.
‘Asset Protection’ is about being prepared for possible outcomes (contingencies) and doing what you can to minimise the damage and prevent the worst outcome from happening.