http://www2.tbo.com/content/2007/oct/21 ... news-money
We concentrate on accumulating and growing assets but often forget about protecting them from lawsuits.
Adrian
anenu@tampabay.rr.com
Protect Your Assets From Lawsuits
Risk Management
Good article, but it seems only to scratch the survace of asset protection. Seems to me that a comprehensive financial plan should include an exposure analysis and risk management strategies. Not sure if this is typically done in the CFP standard process.
Rick
Rick
"Money doesn't grow on fees." "Money in motion-costs money"
Asset protection
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Interesting article and it raises an important point about asset protection/safety nets. IMO here are some important aspects to consider:
Jane Bryant Quinn’s book “Smart and Simple Financial Strategies for Busy People” has excellent coverage of these issues and was a helpful guide to us on each of them.
Robert
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Interesting article and it raises an important point about asset protection/safety nets. IMO here are some important aspects to consider:
- 1. Life insurance (to cover at least mortgage debt pay-off, education costs of dependents, and any estate taxes)
2. Estate planning (wills and trusts)
3. Health insurance (and get out and exercise…)
4. Disability insurance (short and long term)
5. Personal umbrella liability insurance
6. Long-term care insurance (for those in mid-50s to mid-60s)
Jane Bryant Quinn’s book “Smart and Simple Financial Strategies for Busy People” has excellent coverage of these issues and was a helpful guide to us on each of them.
Robert
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