In today's economy, we are witnessing one unit of a company taking the other units onto the brink of bankruptcy. For example, AIG is a prime example of one or several divisions of a company can bring other profitable divisions on the brink of bankruptcy.
Why Asset Protection?
Asset Protection is vital because it protects your other valuable assets. Simply stated, in the AIG situation above, Asset Protection insulates the profitable divisions from the losses of the unprofitable divisions. This is important because many times business owners set up a satellite location and assume that that location will be profitable like their main location. Hence, unfortunately, location, luck, and many other factors play a considerable role in determining business success. Often times, business owners must have a strategy to mitigate their losses.
Who Are Good Candidates for Asset Protection?
Business Owners, Doctors, Dentists, Self Employed Individuals, and High Net Worth Families or Individuals are excellent candidates for Asset Protection. Mostly because society assumes these individuals have money and often times, clients perceive injuries to have occured against them and want to sue to regain what they have lost.
For more information on Wills, Trusts, Asset Protection, & Estate Planning, please call Sean Robertson at 312 498 6080 or RobertsonLawGroup@gmail.com.
Robertson Law Group
9923 S. Ridgeland Avenue, Suite 99
Chicago Ridge, IL 60415
w) 312 498 6080 f) 312 377 2480
e) RobertsonLawGroup@gmail.com
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