Sometimes when you’re involved in a high-risk business, you will want to set up your assets in such a way that they’re more likely to not be accessible to your creditors if something goes wrong. This is called an asset protection plan. If you do a good asset protection plan in advance of those liabilities, you have a good chance of them not being subject to claims from outsiders. When people try to set up the asset protection plan after the liabilities have already been incurred and there is litigation going on, it becomes a much harder task to do. If you think that you need to have protection for your assets, it is best to do it now.

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