Law Offices - Kenneth D. Sisco, Attorney - Personal Information
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Last Updated: June 18, 2010 E-Mail -- protect@action-assetprotection-services.com
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Asset Protection
There are two broad categories of persons that don't need to concern themselves with estate planning and asset protection. Those who don't own anything, and will never own anything; and those who know precisely when they will die or be named in a lawsuit. If you fall into either of those categories, you might want to go back to watching TV, because reading anymore about asset protection, will be wasting your time. Now, it is a perfectly legitimate estate plan to have your will read, "being of sound mind, I spent it all." Unfortunately, unless you fall into that second group of people that know precisely when they are going to die or be sued, in order to die a pauper, you must live a pauper; a most unpleasant prospect for most of us. Indeed, most us dream of basking in the glory of our accumulations right up to the last moment, and then passing a vast fortune on to our children, even if they don't deserve it, and would be better off if they had to earn it as we did. This can only be achieved through a program of asset protection. To choose to die a pauper, is one thing; to die a pauper because you failed to protect yourself, and your family, is quite another. Basically, there are three goals at which we aim, when establishing an asset protection and estate plan. First we try to protect our estate from lawsuits and creditors; second, we hope to reduce or eliminate estate taxes; and finally, we try to reduce income taxes along the way. Fortunately, there are dozens of tools that we can easily and inexpensively use for asset protection purposes, depending on our individual circumstances. Copyright ©1999
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