Answer Upon - Finance

Marketing Your Company on a Small Budget
So often I talk with small business people who are worried that they need more customers and do not quite understand how to market their companies to get the most bang for their buck. One very inexpensive thing you can do is to use flyers to promote your business and I am not suggesting you run around town and put flyers on everyone’s windshield wipers as that really ticks people off big time.What I am saying is that if you are careful to hand out flyers in strategic places and to other small businesses in your area you maybe surprised how many new customers those flyers will bring in.It is always suggested that on any flyer that you put some sort of discount coupon and it is also advised that you put an expiration date on that same

As a matter of fact, many attorneys, knowing their lack of experience in asset protection, actually refer clients to Asset Protection Consulting Group to take advantage of our expertise.

A trust is what I need for asset protection – Many people have been told that trusts can provide all the asset protection necessary. Well, they are wrong. trusts are primarily estate planning tools. They do not provide asset protection in most cases. There have been too many cases where trusts were busted by lawsuits and assets were lost. So they are unreliable as asset protection tools.

I will just tr
What Is A Surety Bond? Where Can I Get A Construction Bond?
Bonds are becoming more common in our society today. You might be wondering what a surety bond is and why they are necessary. Individual business owners, corporations, federal and state governments and municipalities may request or require a surety bond of some sort before entering into an agreement in order to secure the investment. Surety bonds can act as reinforcement for obligatory relationships between parties and/or a support for persons acting under a license or permit. A surety bond is a contract drawn up between three parties: the surety, obligee and principal. The surety company promises to become responsible for the principal’s commitment in the event of a default. The surety may either pay the agreed bond amount to fulfill the contract
After many years of answering asset protection questions from the public, I've come across a number of common misconceptions on the subject. I've compiled a Top 10 List of these common misconceptions and I’d like to share them with you.

I’ll wait until someone threatens me with a lawsuit - This is probably the most common mistake. When a lawsuit has been filed or is expected, it is too late. No asset protection plan will work. The judge will most likely rule that any structures created or assets transferred after the fact as fraudulent. An asset protection plan has to be put in place long before the threat of a lawsuit to be effective. It’s like life insurance. When you are lying in the intensive care unit in the hospital, you can’t buy a life insurance policy. You have to plan ahead.

No one will sue me – You better think twice on your exposure. With over 19 million lawsuits filed each year in the U.S., just about everyone with assets is at risk of a lawsuit. According to the American Bar Association, there are close to 700,000 lawyers in practice in America. That’s one lawyer for every 400 men, women and children! Many of these lawyers make a living solely on suing others for part of the winnings. So, if you own a business or practice a profession you have a one in three chance of being named in a lawsuit THIS YEAR! Do you want to win or lose in this lawsuit lottery?

I don’t have much to protect so I am not worried – Unless the equity you have in your home is lower than the homestead exemption provided in your state, a creditor can come after the equity in your house. Collection attorneys know that the best way to get you to pony up money is to threaten a foreclosure on your home. If you have a sizeable equity in your home, you are vulnerable. Just because your net worth is not in the millions doesn’t mean that you don’t need protection. Someone with a $3 million net worth can probably absorb $250,000 of loss from a lawsuit but someone with a $200,000 net worth can ill afford the same loss.

Only a lawyer can help me do this – Lawyers are knowledgeable on a number of subjects but asset protection is not usually one of them. Asset protection is not taught in law schools and most lawyers have not even traveled overseas. Therefore, unless a lawyer has a great deal of experience in collection or offshore planning, he/she is almost as clueless as the general public on this subject. As a matter of fact, many attorneys, knowing their lack of experience in asset protection, actually refer clients to Asset Protection Consulting Group to take advantage of our expertise.

A trust is what I need for asset protection – Many people have been told that trusts can provide all the asset protection necessary. Well, they are wrong. trusts are primarily estate planning tools. They do not provide asset protection in most cases. There have been too many cases where trusts were busted by lawsuits and assets were lost. So they are unreliable as asset protection tools.

I will just tr
Creativity and Innovation Management - Competition versus Collaboration
There is much confusion as to whether competition or collaboration is most beneficial to creativity and innovation. Though there are negatives to collaboration and it is not easy separating the effects of time pressure and group activity, in general collaboration beats competition. This article will set out some of the arguments.a) Competition forces some individuals to produce a greater number of ideas than they would do otherwise. But crucially, competition forces other people to shut down. Exactly who raises their game and who shuts down depends on the game, the rules, the competencies, the level of evaluation anxiety and other factors. People choose which areas they want to compete in.b) When forced to produce, through competit
e the threat of a lawsuit to be effective. It’s like life insurance. When you are lying in the intensive care unit in the hospital, you can’t buy a life insurance policy. You have to plan ahead.

No one will sue me – You better think twice on your exposure. With over 19 million lawsuits filed each year in the U.S., just about everyone with assets is at risk of a lawsuit. According to the American Bar Association, there are close to 700,000 lawyers in practice in America. That’s one lawyer for every 400 men, women and children! Many of these lawyers make a living solely on suing others for part of the winnings. So, if you own a business or practice a profession you have a one in three chance of being named in a lawsuit THIS YEAR! Do you want to win or lose in this lawsuit lottery?

I don’t have much to protect so I am not worried – Unless the equity you have in your home is lower than the homestead exemption provided in your state, a creditor can come after the equity in your house. Collection attorneys know that the best way to get you to pony up money is to threaten a foreclosure on your home. If you have a sizeable equity in your home, you are vulnerable. Just because your net worth is not in the millions doesn’t mean that you don’t need protection. Someone with a $3 million net worth can probably absorb $250,000 of loss from a lawsuit but someone with a $200,000 net worth can ill afford the same loss.

Only a lawyer can help me do this – Lawyers are knowledgeable on a number of subjects but asset protection is not usually one of them. Asset protection is not taught in law schools and most lawyers have not even traveled overseas. Therefore, unless a lawyer has a great deal of experience in collection or offshore planning, he/she is almost as clueless as the general public on this subject. As a matter of fact, many attorneys, knowing their lack of experience in asset protection, actually refer clients to Asset Protection Consulting Group to take advantage of our expertise.

A trust is what I need for asset protection – Many people have been told that trusts can provide all the asset protection necessary. Well, they are wrong. trusts are primarily estate planning tools. They do not provide asset protection in most cases. There have been too many cases where trusts were busted by lawsuits and assets were lost. So they are unreliable as asset protection tools.

I will just tr
Top 10 Reasons to Use a Blog to Publish Your Ezine
Blogs are the hottest thing going these days when it comes to marketing on the Internet. A blog is a delivery medium. Here are 10 reasons why you should deliver your ezine articles via a blog.1. A blog is web based so you can update and post new articles anywhere, anytime. It's a dynamic medium that can be updated on a moment's notice.2. Subscribers can subscribe to your RSS (Really Simple Syndication) feed and have your content delivered straight to their desktop. This delivery system bypasses spam filters and readers get exactly the content they want.3. No web site to mess with. It's very inexpensive way to set up a web presence for your ezine. There are several sites where you can set up a free blog and others are very reas
winnings. So, if you own a business or practice a profession you have a one in three chance of being named in a lawsuit THIS YEAR! Do you want to win or lose in this lawsuit lottery?

I don’t have much to protect so I am not worried – Unless the equity you have in your home is lower than the homestead exemption provided in your state, a creditor can come after the equity in your house. Collection attorneys know that the best way to get you to pony up money is to threaten a foreclosure on your home. If you have a sizeable equity in your home, you are vulnerable. Just because your net worth is not in the millions doesn’t mean that you don’t need protection. Someone with a $3 million net worth can probably absorb $250,000 of loss from a lawsuit but someone with a $200,000 net worth can ill afford the same loss.

Only a lawyer can help me do this – Lawyers are knowledgeable on a number of subjects but asset protection is not usually one of them. Asset protection is not taught in law schools and most lawyers have not even traveled overseas. Therefore, unless a lawyer has a great deal of experience in collection or offshore planning, he/she is almost as clueless as the general public on this subject. As a matter of fact, many attorneys, knowing their lack of experience in asset protection, actually refer clients to Asset Protection Consulting Group to take advantage of our expertise.

A trust is what I need for asset protection – Many people have been told that trusts can provide all the asset protection necessary. Well, they are wrong. trusts are primarily estate planning tools. They do not provide asset protection in most cases. There have been too many cases where trusts were busted by lawsuits and assets were lost. So they are unreliable as asset protection tools.

I will just tr
Motivational Posters - Are They All Bad?
Is there really a place for motivational posters in your home office? The thought of putting these posters in your home workspace may sound cheesy to say the least. Even worse it could even remind you of those dreaded, awful days when you were tied to a desk and forced to enjoy the company "decoration" of mission statements, useless slogans and their idea of motivational posters (more like propaganda eh?).All these things were meant to make you more productive each day, to enhance your company "loyalty" and to increase staff morale. What effect did they really have? Yes they drove you a little bit more mad each day and actually made you resent where you worked - the exact opposite effect they were meant to have! It makes you wonder if manag
he millions doesn’t mean that you don’t need protection. Someone with a $3 million net worth can probably absorb $250,000 of loss from a lawsuit but someone with a $200,000 net worth can ill afford the same loss.

Only a lawyer can help me do this – Lawyers are knowledgeable on a number of subjects but asset protection is not usually one of them. Asset protection is not taught in law schools and most lawyers have not even traveled overseas. Therefore, unless a lawyer has a great deal of experience in collection or offshore planning, he/she is almost as clueless as the general public on this subject. As a matter of fact, many attorneys, knowing their lack of experience in asset protection, actually refer clients to Asset Protection Consulting Group to take advantage of our expertise.

A trust is what I need for asset protection – Many people have been told that trusts can provide all the asset protection necessary. Well, they are wrong. trusts are primarily estate planning tools. They do not provide asset protection in most cases. There have been too many cases where trusts were busted by lawsuits and assets were lost. So they are unreliable as asset protection tools.

I will just tr
Creative Offline Marketing - Part V
Volunteer – Besides making you feel good about helping a worthy cause, it’s a great way to network if you can volunteer where you come into contact with prospects (or people who have frequent contact with your prospects).Unusual Places for Ads – I should say “unused places.” Wherever a space is zoned for advertising and it’s blank, there’s an opportunity to get your message out. The side of a van. The side of a dumpster. Wherever.Be an In-house Speaker – Besides getting great fees to appear and speak, you establish yourself as the expert. And like your free local mini-seminar, it’s a great place to pitch your products and services.In-house Presentations – JP Maroney talked about the stadium pitch on our call. I believe he was
As a matter of fact, many attorneys, knowing their lack of experience in asset protection, actually refer clients to Asset Protection Consulting Group to take advantage of our expertise.

A trust is what I need for asset protection – Many people have been told that trusts can provide all the asset protection necessary. Well, they are wrong. trusts are primarily estate planning tools. They do not provide asset protection in most cases. There have been too many cases where trusts were busted by lawsuits and assets were lost. So they are unreliable as asset protection tools.

I will just transfer my assets to my spouse or relatives – This is probably the worst thing you can do. Any competent collection attorney will sue you as well as your family members to collect the debt. In addition, your relatives or friends could refuse to return your assets when you want them back. Worst yet, they can be sued for their own liabilities such as a car accident and your assets are therefore exposed to their lawsuits as well as yours. Transferring assets to relatives is no protection at all and increases your risks of losing them.

It costs a lot of money to set up an asset protection plan – This is true when you talk to a high priced attorney and he recommends forming very complicated entity structures and asks for upwards of $25,000 to $50,0000. Affordable asset protection planning can be done with very experienced asset protection experts using simple but battle-tested strategies and entities that cost only a few thousand dollars.
With an offshore corporation, I can avoid paying taxes on my income – Anyone thinking about evading taxes with an offshore corporation is in for a big surprise when the IRS knocks on the door. So many law-abiding people are sucked in by illegal tax schemes that they end up losing much more than they try to save. If there was any legal way of avoiding taxes, every one would be doing it! Therefore, if anyone tells you that you can avoid paying taxes with an offshore corporation or trust, etc. run the other way!

Offshore planning is too risky – Offshore planning is not risky if you do it properly. Now there are many illegal schemes out there so you need to do your due diligence before you entrust your money to someone. Not everyone needs offshore planning. However, for those with high net worth, taking your assets out of the jurisdiction of the United States provides you with maximum protection from judgments handed down by U.S. courts. Most asset protection firms have no offshore planning experience, so using one that does is paramount to an effective asset protection plan.

This can’t be legal. The government will go after me if I do this – The U.S. Constitution guarantees every citizen the rights of liberty and the pursuit of happiness. Setting up an asset protection plan is perfectly within these rights. We have never heard of anyone getting into trouble with the government for setting up an asset protection plan as long as it is not used to illega

Tags

Links

Answer Upon - Top 10 Misconceptions on Asset Protection Planning

Related Articles: