Pointers for Asset Protection

Asset protection planning is undertaken to protect your assets from being lost to creditors. Financial reversals can happen as a result of divorce or accident or many other reasons. Insurance is may be available as your first line of defense, but in many instances, the loss exceeds available coverage.

Here are some things to consider when thinking about your asset protection:
Start Planning
Start planning your protection long before a claim would arise. You never know when life will take a turn and you will need this protection most.
Late Planning
If you are trying to start on a protection plan after a claim arises it could make things more complicated, opening yourself up to liability and might leave you worse off than if you had done nothing at all.
Protection is not Insurance
While you are protecting yourself and your assets with asset protection, it should not supplement insurance in any way.
Simple is Better
Complicated protection plans are not better. If you cannot understand it yourself there is a good chance that you will not communicate your protection plan well to others. This may make things look suspicious and easily disregarded.
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Finlayson Law is here to help you navigate these waters and help you to make the best decisions. Trust our local Albuquerque firm to get you protected and keep you protected.