Asset Protection Consultant

An accomplished asset protection consultant can help corporations, smaller enterprises, and individuals develop a loss prevention plan to secure capital assets and prevent seizure through litigation. Large and small entrepreneurs run the risk of losing hard earned capital assets through workplace thefts, embezzlement, or lawsuits. In today's licentious, libel-hungry culture, there are those who major in preying on unsuspecting business owners and individuals who have accumulated wealth; and the enemy can exist from within or without. Companies lose millions of dollars each year to employee theft or embezzlement, while individuals can be bilked out of thousands through frivolous lawsuits and get-rich-quick scams. Asset protection services can assess potential avenues and opportunities which may leave a company or an individual at risk for theft, mismanagement, embezzlement or litigation. Once assessed, professional consultants can help potential targets devise strategic plans to counteract adverse consequences.

Due to the accessibility of private and public information through the Internet, almost anyone can discover specific details about the amount and types of capital assets owned by others. Divorcees, collection agencies and attorneys, federal and state governments, thieves and extortionists can all gain access to private financial information by doing an asset search on the Internet. All that is needed is a name, a social security number, and electronic payment to cover online fees. Once assets can be tied to a person's social security number, attorneys seeking to collect delinquent accounts, disgruntled ex-spouses seeking divorce settlements, plaintiffs seeking restitution, and the Internal Revenue Service seeking to levy judgments to collect past due taxes can all file claims against unsuspecting individuals. But an accomplished asset protection consultant can help prevent collection agencies and others from taking unfair advantage of business owners and individuals.

One simple way to protect assets is to keep private information private. Identity theft has become a national epidemic, as thieves make a living out of fraudulently obtaining personal financial information about unsuspecting consumers. Law enforcement agencies advise consumers, especially older adults, not to give out social security numbers or banking information over the telephone. Individuals should be careful to shred paperwork which includes financial data that thieves can use to gain access to funds. Asset protection services and law enforcement also advise against divulging personal and financial information to individuals who present themselves as lawyers or collection agencies.

Another fail-safe method of protecting assets is to keep the right perspective about worldly possessions versus the true spiritual riches of the Kingdom of God. "Lay not up for yourselves treasures upon the earth, where moth and rust doth corrupt, and where thieves break through and steal: But lay up for yourselves treasures in heaven, where neither moth nor rust doth corrupt, and where thieves do not break through nor steal: For where your treasure is, there will your heart be also" (Matthew 6:19-21). In spite of expert advice from an asset protection consultant, thieves may succeed in stealing assets and identities, but no one can rob an individual of a truly born again experience with Jesus Christ.

A professional consultant is a keen strategist when it comes to protecting an individual's wealth. One strategy is to create a legal separation between the client and capital assets owned. In order to detach an owner's social security number from real property, investments, stocks, bonds, or liquid assets, consultants must attach property to a legal entity which cannot be traced back to the client. Debtors routinely try to place ownership of assets under relative's names, but the IRS and creditors can easily detect an effort to illegally convey property to avoid prosecution or seizure. Professional consultants may recommend concealing assets under a corporate structure which will alleviate clients from personal liability. Individuals at risk of litigation or seizure of assets due to legal judgments may choose to incorporate businesses and place assets under a legal corporate name, or donate capital assets to an S-corporation. Personal property is protected against litigation; and plaintiffs are prohibited from suing the client as an individual. Asset protection services may also advise investing capital in offshore ventures under the jurisdiction of foreign governments and out of reach of domestic litigation.

Reputable asset protection services may recommend short- and long-term solutions to safeguard funds. Retirees on a fixed income can avoid becoming extortionists' targets by stashing away tax-deferred funds in an Individual Retirement Account (IRA), untouchable until the age of 59 1/2. The federal government is prohibited from taxing IRA accounts until individuals withdraw monies at maturity. Asset protection consultants may also advise clients to establish trusts and foundations which operate under Employer Identification Numbers (EINs), rather than a client's social security number. Strategies exist for almost every situation in which clients find themselves in a fight to build an impenetrable fortress around capital assets.

Corporations and individuals seeking capital asset protection may browse the Internet for links to reputable consultant firms. A professional asset protection consultant should have a lengthy track record of successfully providing protection to a wide variety of clients. Ask to see case histories, references, and explore company websites to review policies, pricing, and personnel. The last thing a client needs is to discover all too late that the asset protection consultant is actually using financial privacy tactics and tools to help themselves to capital assets. Wary clients can do background checks on firms and check with the Better Business Bureau and Securities Exchange Commission to review negative and positive reports, check credibility, and ensure that all federal and state requirements are being met. Corporations and consumers should inquire about asset protection before a real need arises. Consultants recommend putting a strategic plan in place well in advance of litigation. An iron clad plan to keep hard earned cash should be implemented as soon as accumulated wealth warrants it. Money is just like honey when it comes to drawing thieves and con artists out of the woodwork; but a well thought out strategy can keep financial wolves at bay.

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