The Difference Between Using The System Or Abusing It: Asset Protection

Helping wealthy people beat the system by avoiding debt is inappropriate and dishonorable and it’s not a strategy we support, nor ever engage in. Bobbing and weaving, shenanigans, lying, cheating, hiding, absconding, fraudulent transfers… are all unsupportable and avoided by us completely. We will not participate in such foolishness, nor will the banks or the IRS accept it, so what would be the point? This is what we would call abusing the system, and it makes no sense.

However, asset protection and estate planning for legitimate lifetime purposes is pure, well-meaning, honorable and appropriate. Planning for the best tax treatment available is every earner’s responsibility and estate planning provides such an opportunity. Asset protection against the dangers of unknown liability and litigation in this litigation-happy world is absolutely appropriate.

Lifetime planning for the sake of children and spouses, arranging one’s assets and the disposal or transfer of same under various circumstances is completely responsible and all totally honorable. In fact, a person with wealth who does not do this should consider this inaction failure to handle affairs appropriately and ought to engage in such practices immediately. Some professions are high-risk, either physically, financially, or both, and such consideration and strategy is necessary and appropriate.

Clearly, doing this for the sole purpose of defrauding creditors is not the guideline we follow. However, doing this for the lifetime goals we all aspire to, security and the successful preservation and transition between generations is a pursuit that is important and should be done. We believe so strongly in this that we have associated ourselves with some of the finest asset protection and estate planning leaders in the country and regularly refer our clients to them for these exceptional services.

Then, should a workout ever be required, you are better prepared to handle the matter effectively and appropriately in the best interest of your family. This is the honorable thing to do.