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Casual Articles - Top 10 Misconceptions on Asset Protection Planning
How To Make Your Blog Lively?Not all blogs are equal. There are some that have a touch of class, an expression of individuality. It is always interesting to read such blogs, as if each time there will be a new revelation, a new way to know things that you’re already aware of. More than writing prowess, it is the passion that drives blogs. So if you’re passionate about something, you’re most likely the ideal candidate to make your blog a success.There is a growing concept that blog needs search engine optimization as much as a webpage does. This has proponents both for and against. And there is a reason for that. Many websites are in fact blog-sites in the sense that they are built on the back of content management applications, like Nucleus CMS and Wordpress (you need Therefore, unless a lawyer has a great deal of experience in collection or offshore planning, he/she is almost as clueless as the general public on this subject. As a matter of fact, many attorneys, knowing their lack of experience in asset protection, actually refer clients to Asset Protection Consulting Group to take advantage of our expertise.
A trust is what I need for asset protection – Many people have been told that trusts can provide all the asset protection necessary. Well, they are wrong. trusts are primarily estate planning tools. They do not provi The Law and Order ApproachIt’s almost a given that at any time in the United States and around the world some form of Law and Order can be seen on television. The show’s creators have done a tremendous job of franchising this brand. So what can we, as entrepreneurs and small business owners, learn from this example? Once we establish ourselves in the marketplace for our first line of business, we should not be afraid of branching out.Just look at the Law and Order model. The creators waited until they were a mainstay in viewers’ weekly television fix. Once they were established they brought out SVU. Then of course came Criminal Intent, the now defunct Trial By Jury and the latest installment Conviction.Let’s see how this could apply in the real world. I’ll us After many years of answering asset protection questions from the public, I've come across a number of common misconceptions on the subject. I've compiled a Top 10 List of these common misconceptions and I’d like to share them with you.
- I’ll wait until someone threatens me with a lawsuit - This is probably the most common mistake. When a lawsuit has been filed or is expected, it is too late. No asset protection plan will work. The judge will most likely rule that any structures created or assets transferred after the fact as fraudulent. An asset protection plan has to be put in place long before the threat of a lawsuit to be effective. It’s like life insurance. When you are lying in the intensive care unit in the hospital, you can’t buy a life insurance policy. You have to plan ahead.
- No one will sue me – You better think twice on your exposure. With over 19 million lawsuits filed each year in the U.S., just about everyone with assets is at risk of a lawsuit. According to the American Bar Association, there are close to 700,000 lawyers in practice in America. That’s one lawyer for every 400 men, women and children! Many of these lawyers make a living solely on suing others for part of the winnings. So, if you own a business or practice a profession you have a one in three chance of being named in a lawsuit THIS YEAR! Do you want to win or lose in this lawsuit lottery?
- I don’t have much to protect so I am not worried – Unless the equity you have in your home is lower than the homestead exemption provided in your state, a creditor can come after the equity in your house. Collection attorneys know that the best way to get you to pony up money is to threaten a foreclosure on your home. If you have a sizeable equity in your home, you are vulnerable. Just because your net worth is not in the millions doesn’t mean that you don’t need protection. Someone with a $3 million net worth can probably absorb $250,000 of loss from a lawsuit but someone with a $200,000 net worth can ill afford the same loss.
- Only a lawyer can help me do this – Lawyers are knowledgeable on a number of subjects but asset protection is not usually one of them. Asset protection is not taught in law schools and most lawyers have not even traveled overseas. Therefore, unless a lawyer has a great deal of experience in collection or offshore planning, he/she is almost as clueless as the general public on this subject. As a matter of fact, many attorneys, knowing their lack of experience in asset protection, actually refer clients to Asset Protection Consulting Group to take advantage of our expertise.
- A trust is what I need for asset protection – Many people have been told that trusts can provide all the asset protection necessary. Well, they are wrong. trusts are primarily estate planning tools. They do not provid
The Importance of Search Engine OptimizationSearch engine optimization is the art and science of making web pages attractive to internet search engines. Some interne t businesses consider search engine optimization to be the subset of search engine marketing.In the middle of the 1990s webmasters and search engine content providers started optimizing websites. At the time all the webmasters had to do was provide a URL to a search engine and a web crawler would be sent from the search engine. The web crawler would extract link from the webpage and use the information to index the page by down loading the page and then storing it on the search engines server. Once the page was stored on the search engines server a second program, called an indexer, extracted additional information from on plan has to be put in place long before the threat of a lawsuit to be effective. It’s like life insurance. When you are lying in the intensive care unit in the hospital, you can’t buy a life insurance policy. You have to plan ahead.
- No one will sue me – You better think twice on your exposure. With over 19 million lawsuits filed each year in the U.S., just about everyone with assets is at risk of a lawsuit. According to the American Bar Association, there are close to 700,000 lawyers in practice in America. That’s one lawyer for every 400 men, women and children! Many of these lawyers make a living solely on suing others for part of the winnings. So, if you own a business or practice a profession you have a one in three chance of being named in a lawsuit THIS YEAR! Do you want to win or lose in this lawsuit lottery?
- I don’t have much to protect so I am not worried – Unless the equity you have in your home is lower than the homestead exemption provided in your state, a creditor can come after the equity in your house. Collection attorneys know that the best way to get you to pony up money is to threaten a foreclosure on your home. If you have a sizeable equity in your home, you are vulnerable. Just because your net worth is not in the millions doesn’t mean that you don’t need protection. Someone with a $3 million net worth can probably absorb $250,000 of loss from a lawsuit but someone with a $200,000 net worth can ill afford the same loss.
- Only a lawyer can help me do this – Lawyers are knowledgeable on a number of subjects but asset protection is not usually one of them. Asset protection is not taught in law schools and most lawyers have not even traveled overseas. Therefore, unless a lawyer has a great deal of experience in collection or offshore planning, he/she is almost as clueless as the general public on this subject. As a matter of fact, many attorneys, knowing their lack of experience in asset protection, actually refer clients to Asset Protection Consulting Group to take advantage of our expertise.
- A trust is what I need for asset protection – Many people have been told that trusts can provide all the asset protection necessary. Well, they are wrong. trusts are primarily estate planning tools. They do not provi
Looking for a Unique Business Gift or Giveaway - Think ChocolateWho doesn't love chocolate? When people are surveyed, they always rank chocolate as their overall favorite flavor. And if the creaminess and rich flavor of, say, Belgian chocolate isn't enough to entice chocolate aficionados, researchers continue to discover the tasty treat's myriad health benefits.Despite chocolate's popularity and health benefits, business owners often don't consider the ways chocolate can leave a lasting impression with clients, potential customers, and employees.Trade ShowsIf your business exhibits at trade shows, you know the challenges of coming up with a memorable giveaway for those who stop by your booth. Trade show attendees collect pens, pads, luggage tags, and the like by the bag full. What they cou dren! Many of these lawyers make a living solely on suing others for part of the winnings. So, if you own a business or practice a profession you have a one in three chance of being named in a lawsuit THIS YEAR! Do you want to win or lose in this lawsuit lottery?
- I don’t have much to protect so I am not worried – Unless the equity you have in your home is lower than the homestead exemption provided in your state, a creditor can come after the equity in your house. Collection attorneys know that the best way to get you to pony up money is to threaten a foreclosure on your home. If you have a sizeable equity in your home, you are vulnerable. Just because your net worth is not in the millions doesn’t mean that you don’t need protection. Someone with a $3 million net worth can probably absorb $250,000 of loss from a lawsuit but someone with a $200,000 net worth can ill afford the same loss.
- Only a lawyer can help me do this – Lawyers are knowledgeable on a number of subjects but asset protection is not usually one of them. Asset protection is not taught in law schools and most lawyers have not even traveled overseas. Therefore, unless a lawyer has a great deal of experience in collection or offshore planning, he/she is almost as clueless as the general public on this subject. As a matter of fact, many attorneys, knowing their lack of experience in asset protection, actually refer clients to Asset Protection Consulting Group to take advantage of our expertise.
- A trust is what I need for asset protection – Many people have been told that trusts can provide all the asset protection necessary. Well, they are wrong. trusts are primarily estate planning tools. They do not provi
PPC Terms & Conditions DemystifiedIf you haven't done so already, reading the Google Adsense terms and conditions is an absolute must. Failing to do so could get your Adsense account terminated and your business in serious trouble.Here’s a brief summary of the key terms and conditions:-You must be 18You may not have multiple accounts, unless Google have authorised you to do so in writing.You must follow strict guidelines about displaying Ads, Links, Search Results and Referral buttons on your site (see below).You must not display any Ad Unit on a page that contains Ads from another supplierYou must not display on any page any advertisements that a site user might reasonably mistake for a Google advertYou must not encourage people t sure on your home. If you have a sizeable equity in your home, you are vulnerable. Just because your net worth is not in the millions doesn’t mean that you don’t need protection. Someone with a $3 million net worth can probably absorb $250,000 of loss from a lawsuit but someone with a $200,000 net worth can ill afford the same loss.
- Only a lawyer can help me do this – Lawyers are knowledgeable on a number of subjects but asset protection is not usually one of them. Asset protection is not taught in law schools and most lawyers have not even traveled overseas. Therefore, unless a lawyer has a great deal of experience in collection or offshore planning, he/she is almost as clueless as the general public on this subject. As a matter of fact, many attorneys, knowing their lack of experience in asset protection, actually refer clients to Asset Protection Consulting Group to take advantage of our expertise.
- A trust is what I need for asset protection – Many people have been told that trusts can provide all the asset protection necessary. Well, they are wrong. trusts are primarily estate planning tools. They do not provi
Good Presentation of Your Product or Service Pays Off Every TimeIt is essential that you have a good presentation of your product or service if you expect to sell your product or service in the marketplace and that you can afford to produce it and retain a profit. You cannot spend too much on presentation as you are liable to overdrive the headlights on the price and run over the deer in the road (customer) with sticker shock, but you must maintain proper presentation.Customers or drawn to products and services which have good presentation and your company must concentrate on this, whether it is packaging of your product or the signage and uniforms on your service vehicles and employees. A good presentation sets you apart from your competition and helps build brand.Additionally it helps build c Therefore, unless a lawyer has a great deal of experience in collection or offshore planning, he/she is almost as clueless as the general public on this subject. As a matter of fact, many attorneys, knowing their lack of experience in asset protection, actually refer clients to Asset Protection Consulting Group to take advantage of our expertise.
- A trust is what I need for asset protection – Many people have been told that trusts can provide all the asset protection necessary. Well, they are wrong. trusts are primarily estate planning tools. They do not provide asset protection in most cases. There have been too many cases where trusts were busted by lawsuits and assets were lost. So they are unreliable as asset protection tools.
- I will just transfer my assets to my spouse or relatives – This is probably the worst thing you can do. Any competent collection attorney will sue you as well as your family members to collect the debt. In addition, your relatives or friends could refuse to return your assets when you want them back. Worst yet, they can be sued for their own liabilities such as a car accident and your assets are therefore exposed to their lawsuits as well as yours. Transferring assets to relatives is no protection at all and increases your risks of losing them.
- It costs a lot of money to set up an asset protection plan – This is true when you talk to a high priced attorney and he recommends forming very complicated entity structures and asks for upwards of $25,000 to $50,0000. Affordable asset protection planning can be done with very experienced asset protection experts using simple but battle-tested strategies and entities that cost only a few thousand dollars.
- With an offshore corporation, I can avoid paying taxes on my income – Anyone thinking about evading taxes with an offshore corporation is in for a big surprise when the IRS knocks on the door. So many law-abiding people are sucked in by illegal tax schemes that they end up losing much more than they try to save. If there was any legal way of avoiding taxes, every one would be doing it! Therefore, if anyone tells you that you can avoid paying taxes with an offshore corporation or trust, etc. run the other way!
- Offshore planning is too risky – Offshore planning is not risky if you do it properly. Now there are many illegal schemes out there so you need to do your due diligence before you entrust your money to someone. Not everyone needs offshore planning. However, for those with high net worth, taking your assets out of the jurisdiction of the United States provides you with maximum protection from judgments handed down by U.S. courts. Most asset protection firms have no offshore planning experience, so using one that does is paramount to an effective asset protection plan.
- This can’t be legal. Th
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