One of the most important steps a person can take to protect all the things they have worked so hard to get is to invest in asset protection. There are thousands of instances where Americans - from small business owners to corporate giants - have lost everything because of poor planning. For those who seek to protect their assets and prevent unnecessary loss, asset protection is critical.

There are many businesses that specialize in asset protection, but how can someone determine which ones are legitimate and which ones should be avoided?

What is Asset Protection?

Asset protection is the preservation of capital accumulation throughout the owner’s life and beyond, as an inheritance or investment. Asset protection has become an important part of estate planning and small business management, and as a result, many businesses have emerged that specifically help clients deal with their assets in the most beneficial way possible. Legitimate asset protection businesses are experts who are looking out for the client’s needs.

Some Asset Protection Plans Are Not Legitimate

Unfortunately, there are far too many asset plan companies that are working hard to scam or trick those uninformed and uneducated potential clients when it comes to managing their assets. Because the general public don’t really know what to watch out for, it’s far too easy for them to get wrapped up with a less than legitimate company who won’t do the best job. These scams are fairly widespread, so it’s important for people to understand the differences between legitimate plans and those that are not.

Finding a Good Asset Protection Planner

Like most services, it's important to do research to find the best providers, and asset protection is so different. It may be difficult to recognize the difference between a scammer and a legitimate company, so here are 5 tips on how to recognize the best asset protection planners:

  1. Certified legal experts: A legitimate asset protection business will have licensed and certified attorneys working there. Asset protection companies that don’t have attorneys or say that they are not needed should be avoided.
  2. Frequent counseling: Legitimate companies want people to learn as much as possible about asset protection planning and welcome opportunities for individual counseling sessions to answer questions. Less than reputable companies will not be as open to answering questions and holding counseling sessions.
  3. Paperwork guidance: The best asset protection planners will help their clients with all the applications, forms, and deadlines required to implement a protection strategy. Poorly run companies won’t do much to assist their clients.
  4. Ongoing communication: Far too many asset protection planning companies will simply sell their clients an all-in-one kit and then let them figure it out on their own. A reputable company will be in constant communication about what’s going on, what’s coming up and what’s still needed.
  5. Up-to-date knowledge: Legitimate asset protection planning companies are well-informed on all the latest state laws, statutes, and policies regarding asset protection in their state. They are also experts on lawsuits, income tax, and estate planning. Too many companies rely on outdated information and don’t bother to stay current, which hurts their clients in the long run.

It’s important to work with an asset protection planning company that has an excellent reputation, qualified attorneys, and plenty of years of experience in the industry. There are few things more important than a person’s assets, whether for business or personal. That’s why it’s a good idea to do everything possible to minimize the risk of losing them over a lifetime. It’s never too late to start securing assets, and those who do their research and work with a legitimate asset protection planner will not regret it.

Author's Bio: 

Jackson Cooper is a investment & finance enthusiast, involved with the experts at American Society For Asset Protection. Look to American Society For Asset Protection, true leaders in the professional Asset Protection industry, to properly guard your assets from lawsuit & litigation. Connect with them on LinkedIn, Facebook. Learn More On YouTube