Asset protection is a critical part of estate planning. While estate planning involves what happens after your passing, the protection of assets falls under this umbrella as there may not be assets remaining to distribute if they are not protected.
America is one of the most litigious developed nations, and it is important to always be aware of the possible risks of legal liability. Asset protection is one way to safeguard yourself against a worst-case scenario: It goes beyond estate planning to touch on many aspects of your legal life.
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