With an Asset Protection Strategy in place, can I realize savings on my Professional or Business Liability Insurance coverage?
We do not recommend you go bare with no coverage at all. That would, in our view, be foolish. In our opinion, you should have liability coverage in an amount that will take care of most common types of claims that you are likely to have. However, the increased protection of your nest egg or rainy day assets that comes with your establishing an Asset Protection Trust would probably allow you to change your deductible amounts. If you feel comfortable with it, you can shift the limits or types of your insurance coverage to reduce your insurance costs. This is something we can discuss during your private consultation. In the past 10 years, some insurance premiums have gone so high, that the insurance company is literally earning more than the salary that the professional is left with to bring home to their family. Professionals and business people in certain industries have been forced either leave their profession or move to a state that had variances that lowered their premiums. Many of
