People clamber to get the bullet proof asset protection shield. There is no question that LLCs,
ownership changes, trusts, and many other legal tools can help with your asset protection plan, but the simplest thing you can do to get a pretty good asset protection shield is buy a good insurance policy.

BUT, the insurance company’s job is to get out of paying your claim, and they are good at it.

Your policy has to cover the risk. People are getting into trouble with insurance, because they buy a
policy and then it doesn’t cover the risk. In their mind the risk was covered, but that isn’t true in the
insurance contract.

Real estate investors often void their insurance policy when they attempt to do asset protection
planning. The shocker comes when they try to cover their risks and find out that their asset protection plan just tripled their insurance costs. Learn more about the traps people fall into by watching my my YouTube video and in my article at http://www.legalees.com/insurance-first-line-defense/.

US Supreme Court Counselor

P.S. There's a lot more you can do, too. Check out my book, Protecting Your Financial Future, for a primer on how to set up your assets and business for maximum protection.