Hey everybody, I’m Stuart Green. Go ahead and subscribe to our channel—we release new content all the time! And don’t forget to hit the thumbs up button on this video.
Today, we’re going to talk about who needs an asset protection trust. We do a lot of asset protection trust planning, both domestically and offshore, and one of the questions we get all the time is: who actually needs an asset protection trust?
When we talk about asset protection, we’re referring to safeguarding your assets against creditor claims, which can include lawsuits, malpractice suits, negligence suits, divorcing spousal claims, and even bankruptcy in some circumstances, as well as other legal risks.
The types of individuals who typically need this kind of protection are high-net-worth clients, business owners, lawyers, doctors, dentists, engineers, accountants, financial advisors, celebrities, and political activists. I once had a client who would have never described themselves as a political activist, but because of the nature of some of the things they were involved with, the government viewed them differently.
Anyone who is subject to a heightened level of legal scrutiny—whether because of the money and wealth they own, the type of assets they have, like a business, or the nature of their work—should consider asset protection planning. This even includes social media influencers and various other professions that can expose individuals and their families to increased legal scrutiny.
If you fall into one of these categories, it’s crucial to have a conversation about how to protect your assets. Without proper planning, you could be subject to a creditor claim when you least expect it or need it the least.
So, if this sounds like you, don’t wait. Reach out to discuss your options and ensure you’re protected. And remember, like and subscribe to our channel for more content like this!