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Insurance and Protection Planning

Protecting your financial life is crucial whether you are building your wealth or already have substantial assets.

There are several risk factors damaging to your financial life.

  • Death or disability that eliminates future earnings and your family’s financial needs
  • Liquidity needs when your family needs it most
  • Taxes that take your assets and give them to the government
  • Liabilities from lawsuits and creditor actions (related to your business, swimming pool, housekeeper, automobile, or many other aspects of your life)

There are a number of ways to address these pitfalls. Some ways might include:

  • Self insure
  • Transfer the risk to a third party, using insurance
  • Transfer the asset(s) to a separate entity, or organization
  • Lever up an asset
  • Take on the risk, and hope for the best

You may have already chosen one of these options. It may, or may not have been a conscious choice. Let’s discuss the possible pitfalls, solutions and help you understand the consequences.

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