The first line of defense is insurance, including homeowner’s or renter’s, automobile, business, professional, malpractice, long-term care, and umbrella policies. Liability insurance not only provides a means to pay money damages but can often include payment of all or part of the legal fees associated with a lawsuit.
If you do not have an umbrella policy, speak with an insurance agent to see whether one is right for your situation, as these types of policies are relatively inexpensive compared with more advanced asset protection strategies. Check your current insurance policies to determine whether your policy limits align with the value of what you own. You should review your policies annually to confirm that the coverage is adequate and the benefits have not been reduced or changed.
Schedule an appointment so we can evaluate your situation and craft an asset protection plan for you.
