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Advanced Asset Protection for Successful Families

In: The Financial Storm Warning for Investors

Author

Listed:
  • Jeff Camarda

    (Family Wealth Education Institute)

  • Steven James Lee

    (California State Polytechnic University)

  • Jerusha Lee

    (Claremont Graduate University)

Abstract

This chapter delves into these increasingly-litigious times and the way that, as assets can be lost at the end of a lawsuit, you must find ways to protect what you have. While starting a business confers many tax advantages, it also exposes you to additional risks. There are two main ways to shield your property from liability: various forms of insurance and asset protection structures like Limited Liability Companies (LLC’s). There are other types of asset protection that fall under these main categories, such as holding companies and retirementRetirement plans. It explains the protection and problems with many of these potential solutions and also discusses nine of the commonly-seen errors that people make when trying to protect their assets in the case of unfortunate—and often unforeseen—civil litigation or other predatory attack.

Suggested Citation

  • Jeff Camarda & Steven James Lee & Jerusha Lee, 2021. "Advanced Asset Protection for Successful Families," Springer Books, in: The Financial Storm Warning for Investors, pages 121-133, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-77271-0_13
    DOI: 10.1007/978-3-030-77271-0_13
    as

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