Does the FLP really work for Asset Protection?
To answer this question we must first understand what Asset Protection really is. In the most basic sense, Asset Protection is any action that dissuades or disallows any unwanted and unauthorized person or entity from reaching your assets. That’s really it. In that sense, Asset Protection could include: • Giving your assets away to a charity or person. • Losing your assets in Las Vegas. • Investing your assets in a copper mine in South America, which turns out to have no value. • Placing your assets in an unreachable location, like a treasure chest dropped to the bottom of the sea, or • Piling all your assets up and making s’mores over a roaring bon fire. In each of the above cases, the assets would be difficult, if not impossible, to reach for anyone! The problem, of course, is that anyone includes you. In practical terms, what Asset Protection has come to be known as is slightly different than these methods mentioned above. Legal Asset Protection is the use of legal entities and tool
