Twollow
  • Tech
    Commercial PA System

    Who Can Benefit From a Commercial PA System and How to Choose One

    cyber security password

    Cybersecurity Reinvented: Exploring the Impact of Passwordless Methods

    system board

    Types of Surface Mount Technology Components – Ferrite Beads & More

    cloud computing

    Cloud Migration Mistakes and How To Avoid Them!

    Peer-To-Peer

    The Ultimate Guide to Understanding Peer-To-Peer Recognition

    How Much Do Laptops Weigh

    How Much Do Laptops Weigh

    How To Turn On Smartwatch Without Power Button

    How To Turn On Smartwatch Without Power Button

    technology

    Demystifying Usenet: Its History and Purpose

    How To Reset Ebike Battery

    How To Reset Ebike Battery

  • Apps
    canva design

    An In-Depth Look at Canva Pro Pricing: Is it Worth the Investment

    Food Delivery Apps

    Why White-Label Food Delivery Apps Are Best To Start in 2023

    Why Should You Buy Views for Instagram

    Why Should You Buy Views for Instagram | Top Advantages

    News Mobile App

    Best Practices For Creating Engaging News Mobile App

    app development

    InsiderTech No:1 Web Application Development

    Efficient Hosting Solutions

    Why Businesses Should Use Highly Efficient Hosting Solutions for Their Sites

    How To Build Android Apps With Node JS Using Android JS

    How To Build Android Apps With Node JS Using Android JS

    Is Powerapps Service The Future Of App Development?

    How To Make Night In Little Alchemy

    How To Make Night In Little Alchemy?

  • How To
    How To Reset Cricut Explore Air 2

    How To Reset Cricut Explore Air 2

    How To Turn On Smartwatch Without Power Button

    How To Turn On Smartwatch Without Power Button

    How To Reset Ebike Battery

    How To Reset Ebike Battery

    How To Remove Pressure Marks From Laptop Screen

    How To Remove Pressure Marks From Laptop Screen

    How To Set Time On Smartwatch Without App

    How To Set Time On Smartwatch Without App

    How To Reset Shark Robot Vacuum

    How To Reset Shark Robot Vacuum

    How To Reset Inverter Overload

    How To Reset Inverter Overload

    How To Reset Induction Cooker

    How To Reset Induction Cooker

    How To Reset A Microwave

    How To Reset A Microwave

  • Business
    • All
    • Finance
    business operations

    Maximizing Efficiency in Business Operations: 7 Strategies for Success

    PPC

    Integrating sustainability and climate action in the business sector

    business intelligence

    Tech That Will Help You Run Your Business

    account

    The Top 4 Reasons to Start a Bonus Savings Account

    invest

    Are Investment Returns Guaranteed in a ULIP?

    consulting with client

    How Sapper Consulting Can Help Your Budding Company

    Should Commercial Vehicles Be Insulated

    Should Commercial Vehicles Be Insulated?

    customer service tip

    The 5 Best Customer Service Tips for Online Retailers

    How Land Developers Can Cash In On The Solar Trend

    Factors To Keep in Mind When Importing Solar Panels

  • Marketing
    Email marketing and many envelopes in smartphone screen

    Top Holiday Email Marketing Tips: Labor Day Edition [+ Bonus with Top 20 Subject Lines]

    Email Marketing

    Email Marketing 101: 3 Foundational Insights for Your Business

    ux designer

    Adapting Assessment Platforms for Diverse Tech Roles

    Best Chicago SEO Agencies

    Best Chicago SEO Agencies

    web scrap

    Unveiling Global Opportunities: The Whys and Hows of Web Scraping in International Websites

    ecommerce sale

    Boost Sales on Your E-Commerce Site with These 4 Cool Improvements

    How to Construct an Efficient and Solid Base of B2B Sales Leads

    How to Construct an Efficient and Solid Base of B2B Sales Leads

    Ecommerce Conversion Funnel

    Selling More with the Right Ecommerce Conversion Funnel

    Incident Response Assistance Solution. Service Team of Data Center Help Desk helping with a customer for technical problems and resolving. Customer Satisfaction and Feedback.

    Integrating CRM With Marketing Automation: A Winning Combination

  • General
    workplace saftey

    8 Types of Safety Clothing in the Workplace

    food industry

    The Importance of Agricultural Standards in the Australian Food Industry

    Music learning

    5 Stress-relief Gifts to Help Employees Relax

    Is Xtorch Still In Business

    Is Xtorch Still In Business

    Are Converse Business Casual

    Are Converse Business Casual

    divorce

    Divorce in Milwaukee: Your guide to getting started

    Can Police Drones See In Your House

    Can Police Drones See In Your House

    How Many Times Can A Felony Case Be Reset

    How Many Times Can A Felony Case Be Reset

    How Much Is Crossfit Membership

    How Much Is Crossfit Membership

  • Reviews
    detecting plagiarism

    Editpad’s Plagiarism Checker Review: Is it best in detecting plagiarism?

    Development of Cryptocurrency

    A Crypto.com Overview

    Ophthalmology eyesight examination

    Red Light Therapy Devices for Eyes: Where to Buy

    text to speech

    Best Text to Speech Converters Reviewed

    air purifier

    Where Can You Find the Best Air Cleaner Pro Reviews?

    How to Choose a Cheap Hosting

    Liquid Web Reviews: A Look At A Reliable Hosting Company

    Ionic Training

    Get Ionic Training and Improve Your Career Options

    Learning Experience

    Salesforce DX myTrailhead to Customize the Learning Experience

    Best Web Hosting Services

    10 Best Web Hosting Services 2018

  • Featured
No Result
View All Result
  • Tech
    Commercial PA System

    Who Can Benefit From a Commercial PA System and How to Choose One

    cyber security password

    Cybersecurity Reinvented: Exploring the Impact of Passwordless Methods

    system board

    Types of Surface Mount Technology Components – Ferrite Beads & More

    cloud computing

    Cloud Migration Mistakes and How To Avoid Them!

    Peer-To-Peer

    The Ultimate Guide to Understanding Peer-To-Peer Recognition

    How Much Do Laptops Weigh

    How Much Do Laptops Weigh

    How To Turn On Smartwatch Without Power Button

    How To Turn On Smartwatch Without Power Button

    technology

    Demystifying Usenet: Its History and Purpose

    How To Reset Ebike Battery

    How To Reset Ebike Battery

  • Apps
    canva design

    An In-Depth Look at Canva Pro Pricing: Is it Worth the Investment

    Food Delivery Apps

    Why White-Label Food Delivery Apps Are Best To Start in 2023

    Why Should You Buy Views for Instagram

    Why Should You Buy Views for Instagram | Top Advantages

    News Mobile App

    Best Practices For Creating Engaging News Mobile App

    app development

    InsiderTech No:1 Web Application Development

    Efficient Hosting Solutions

    Why Businesses Should Use Highly Efficient Hosting Solutions for Their Sites

    How To Build Android Apps With Node JS Using Android JS

    How To Build Android Apps With Node JS Using Android JS

    Is Powerapps Service The Future Of App Development?

    How To Make Night In Little Alchemy

    How To Make Night In Little Alchemy?

  • How To
    How To Reset Cricut Explore Air 2

    How To Reset Cricut Explore Air 2

    How To Turn On Smartwatch Without Power Button

    How To Turn On Smartwatch Without Power Button

    How To Reset Ebike Battery

    How To Reset Ebike Battery

    How To Remove Pressure Marks From Laptop Screen

    How To Remove Pressure Marks From Laptop Screen

    How To Set Time On Smartwatch Without App

    How To Set Time On Smartwatch Without App

    How To Reset Shark Robot Vacuum

    How To Reset Shark Robot Vacuum

    How To Reset Inverter Overload

    How To Reset Inverter Overload

    How To Reset Induction Cooker

    How To Reset Induction Cooker

    How To Reset A Microwave

    How To Reset A Microwave

  • Business
    • All
    • Finance
    business operations

    Maximizing Efficiency in Business Operations: 7 Strategies for Success

    PPC

    Integrating sustainability and climate action in the business sector

    business intelligence

    Tech That Will Help You Run Your Business

    account

    The Top 4 Reasons to Start a Bonus Savings Account

    invest

    Are Investment Returns Guaranteed in a ULIP?

    consulting with client

    How Sapper Consulting Can Help Your Budding Company

    Should Commercial Vehicles Be Insulated

    Should Commercial Vehicles Be Insulated?

    customer service tip

    The 5 Best Customer Service Tips for Online Retailers

    How Land Developers Can Cash In On The Solar Trend

    Factors To Keep in Mind When Importing Solar Panels

  • Marketing
    Email marketing and many envelopes in smartphone screen

    Top Holiday Email Marketing Tips: Labor Day Edition [+ Bonus with Top 20 Subject Lines]

    Email Marketing

    Email Marketing 101: 3 Foundational Insights for Your Business

    ux designer

    Adapting Assessment Platforms for Diverse Tech Roles

    Best Chicago SEO Agencies

    Best Chicago SEO Agencies

    web scrap

    Unveiling Global Opportunities: The Whys and Hows of Web Scraping in International Websites

    ecommerce sale

    Boost Sales on Your E-Commerce Site with These 4 Cool Improvements

    How to Construct an Efficient and Solid Base of B2B Sales Leads

    How to Construct an Efficient and Solid Base of B2B Sales Leads

    Ecommerce Conversion Funnel

    Selling More with the Right Ecommerce Conversion Funnel

    Incident Response Assistance Solution. Service Team of Data Center Help Desk helping with a customer for technical problems and resolving. Customer Satisfaction and Feedback.

    Integrating CRM With Marketing Automation: A Winning Combination

  • General
    workplace saftey

    8 Types of Safety Clothing in the Workplace

    food industry

    The Importance of Agricultural Standards in the Australian Food Industry

    Music learning

    5 Stress-relief Gifts to Help Employees Relax

    Is Xtorch Still In Business

    Is Xtorch Still In Business

    Are Converse Business Casual

    Are Converse Business Casual

    divorce

    Divorce in Milwaukee: Your guide to getting started

    Can Police Drones See In Your House

    Can Police Drones See In Your House

    How Many Times Can A Felony Case Be Reset

    How Many Times Can A Felony Case Be Reset

    How Much Is Crossfit Membership

    How Much Is Crossfit Membership

  • Reviews
    detecting plagiarism

    Editpad’s Plagiarism Checker Review: Is it best in detecting plagiarism?

    Development of Cryptocurrency

    A Crypto.com Overview

    Ophthalmology eyesight examination

    Red Light Therapy Devices for Eyes: Where to Buy

    text to speech

    Best Text to Speech Converters Reviewed

    air purifier

    Where Can You Find the Best Air Cleaner Pro Reviews?

    How to Choose a Cheap Hosting

    Liquid Web Reviews: A Look At A Reliable Hosting Company

    Ionic Training

    Get Ionic Training and Improve Your Career Options

    Learning Experience

    Salesforce DX myTrailhead to Customize the Learning Experience

    Best Web Hosting Services

    10 Best Web Hosting Services 2018

  • Featured
No Result
View All Result
Twollow
No Result
View All Result

How Can You Protect Your Assets?

by Tom Fogden
December 21, 2018 - Updated on November 21, 2022
0
Protect Your Assets
Share on FacebookShare on Twitter

There is always the risk of losing your assets from creditors filing claims, an unfairly adjudicated lawsuit, claims arising from damages, bankruptcy, and even divorce. However, you can avoid these threats by implementing solid asset protection strategies.

The importance of asset protection cannot be overstated. It can help shield the assets that you’ve worked long and hard to accumulate. It is a proactive measure that will ensure that you get to fully enjoy what you’ve earned. Although you are not praying for these risks to befall you, you should consider and invest in asset protection long before the threats come knocking at your door.

Common Ways to Protect Your Assets

There are several ways to shield your assets. Below we discuss the five most common asset protection strategies.

1.     Use an appropriate business entity or structure

Regardless of the size of the business you’re operating, make sure that you shield your assets in case of claims by establishing the appropriate business structure. A cardinal rule in doing business: never mix business and personal assets. They must be kept separate. To achieve this, you need to establish the right business structure, such as a Corporation, LLC, or partnership. Operating a business under a sole proprietorship exposes your assets to claims. A sole proprietorship does not shield your assets. In the case of liabilities arising from your business operations, they can easily spill into your assets. Choosing the right business entity requires a tax professional or an accountant to review and evaluate your business dealings getting familiar with the most common business structures, such as an LLC will help you protect your assets.

2.     Invest in insurance

Insurance is vital in protecting your assets. Unfortunately, there are still some business owners that don’t consider insurance as a priority. Many types of insurance offer protection for different assets, such as automobile insurance, property insurance, etc. Professionals working in high-liability occupations, such as medical professionals, lawyers, and real estate professionals, also need insurance to protect their assets in case of claims. However, it’s not enough that you take out insurance, you have to regularly check its coverage to see how much of your assets are insured.

3.     Ensure proper asset titling

A property can be seized through titling. Make sure to check your assets’ titles are in order; that includes your home, office space, and other properties. Proper titling ensures that they are shielded in case of an attempt to question your ownership. Check individual state laws regarding titling to know the appropriate plan for your properties. Take note that some states have titling exemptions which you might need to consider.

4.     Transferring ownership

Sometimes it’s best to get rid of assets that are being threatened instead of holding onto them. A good way to skirt creditors is to transfer ownership of your assets into a trust that is accessible by an appointed party. It’s a good way of safekeeping assets. You might want to consider opening an offshore trust account to further isolate your assets while maintaining full control of them. Another way of releasing ownership is by ‘donating’ or ‘gifting’ the asset to a family member or trusted individual. However, this might entail costs and taxes. Consulting a lawyer to help you choose the best way to release or transfer ownership of your assets.

5.     Start a retirement plan

We work hard to accumulate assets for us to enjoy later in life or for our loved ones to enjoy. Protected by federal and state laws, a retirement plan can guarantee that you’ll enjoy these funds the way you intend to. With a retirement plan, you make accounts and move the assets or money you don’t need into the retirement plan. Take note that when you move your funds into these retirement accounts, you will not have access to it until you’re of age. Again, it’s essential to seek the counsel of a lawyer to explore applicable laws in your state.

Final Thoughts

Asset protection is protecting yourself. As such, it should be prioritized and not delayed. Having solid asset protection can make you feel more secure and comfortable. Regularly review your situation to see potential weaknesses and errors. Plug all possible vulnerabilities and avoid making yourself the target of litigations, creditor claims, and frauds. Getting the advice of a professional asset protection specialist can help you through this process.

Tags: Protect Your Assets
Tom Fogden

Tom Fogden

Tom Fogden is a writer for Twollow with a range of experience in the world of tech publishing. Tom covers everything from cybersecurity, to social media and website builders when he's not reviewing the latest phones, gadgets, or occasionally even technology books.

Related Posts

How To Reset Cricut Explore Air 2
How To

How To Reset Cricut Explore Air 2

Cricut Explore Air 2 has become an indispensable tool in the crafting community, offering endless possibilities for creative projects. However,...

by Daniel Oropeza
August 31, 2023
How To Turn On Smartwatch Without Power Button
How To

How To Turn On Smartwatch Without Power Button

In the modern era, smartwatches have become an essential accessory for many individuals. These wearable devices offer a wide range...

by Daniel Oropeza
August 28, 2023
How To Reset Ebike Battery
How To

How To Reset Ebike Battery

Ebike batteries are an essential component of electric bicycles, providing the necessary power to propel the bike forward. Over time,...

by Daniel Oropeza
August 25, 2023
How To Remove Pressure Marks From Laptop Screen
How To

How To Remove Pressure Marks From Laptop Screen

If you've ever been frustrated by those annoying blemishes that seem to mar your display, you're in the right place....

by Daniel Oropeza
August 24, 2023

Recommended

business operations

Maximizing Efficiency in Business Operations: 7 Strategies for Success

September 21, 2023
Email marketing and many envelopes in smartphone screen

Top Holiday Email Marketing Tips: Labor Day Edition [+ Bonus with Top 20 Subject Lines]

September 20, 2023
ID verification

The Dawn of a New Hiring Age: Digital Identity Verification

September 20, 2023

Who We Are

Twollow is one of the leading tech and business blogs, that is dedicated towards updated Technology & Business news, reviews, Apps, how-to, smart tricks, and tweaks.

Follow Us

  • Facebook

Categories

  • Apps
  • Business
  • Education
  • Featured
  • Finance
  • General
  • How To
  • Marketing
  • Reviews
  • Security
  • Tech
  • Uncategorized

Top Posts & Pages

  • 100+ Free Premium Minecraft Accounts & Passwords (Tested 2023)
    100+ Free Premium Minecraft Accounts & Passwords (Tested 2023)
  • How to Get Free Virtual Phone Number for WhatsApp Installation
    How to Get Free Virtual Phone Number for WhatsApp Installation
  • How Much Weight is Allowed in a 20 ft and 40 ft Container?
    How Much Weight is Allowed in a 20 ft and 40 ft Container?
  • Email Marketing 101: 3 Foundational Insights for Your Business
    Email Marketing 101: 3 Foundational Insights for Your Business
business operations

Maximizing Efficiency in Business Operations: 7 Strategies for Success

September 21, 2023
Email marketing and many envelopes in smartphone screen

Top Holiday Email Marketing Tips: Labor Day Edition [+ Bonus with Top 20 Subject Lines]

September 20, 2023
ID verification

The Dawn of a New Hiring Age: Digital Identity Verification

September 20, 2023
  • About Us
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • Disclaimer
  • Cookie Privacy Policy

No Result
View All Result
  • Home
  • Security