#038: Protecting Your Assets From Lawsuits and Other Liabilities
If you've put together a little bit of money, or you have a regular stream of income, it's reasonable to be concerned about protecting those assets from lawsuits or other types of liability. Today, John explains some of the simple steps you can...
If you've put together a little bit of money, or you have a regular stream of income, it's reasonable to be concerned about protecting those assets from lawsuits or other types of liability.
Today, John explains some of the simple steps you can take to put some protections about the money that you have.
First, consider what type of liability you might face. Second, consider what assets might be at risk. Third, check out your insurance coverage. Fourth, separate your business assets from your personal property, and figure out the right tool for each object.
Highlights include:
- What assets or income are protected
How your insurance coverage factors into the decision - Different strategies for business vs. personal assets
- How a revocable trust doesn't provide protection
- How Delaware changed the rules
- Bonus: John explains the history of trusts - using Devin in his story
For more information, visit http://bigpictureretirement.net/038
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