10 Genius Ways to Protect Your Money
10 Genius Ways to Protect Your Money
Mark Henricks Thu, June 16, 2022,
SmartAsset: 10 Asset Protection Strategies for 2022
Asset protection strategies can protect investors, professionals, business owners and those with significant assets from loss due to lawsuits, creditor claims and other risks. This often involves moving assets from the owner’s personal control into various legal entities in order to separate them from claims against the owner. While not necessarily simple, inexpensive or guaranteed to stop all claims, asset protection can be an important part of a financial plan. A financial advisor can help identify the assets and strategies appropriate to your individual situation.
What Is Asset Protection?
Asset protection consists of a set of legal techniques used to protect assets owned by individuals and businesses from claims arising from lawsuits, debts and taxes. For instance, these strategies can limit the amount a driver can lose if someone is injured in an automobile accident in which the driver is at fault.
Asset protection is most useful for people with significant assets. Occupation also plays a role here. Business owners, especially those with employees, are among those most likely to be subject to lawsuits for damages. Others at risk include real estate investors and highly paid professionals such as physicians, especially surgeons and obstetricians.
Asset protection can also shield assets from loss due to divorce. In that sense, anyone who is married may be a candidate for asset projection.
Asset protection is useful but has its limitations. It may involve significant cost and complexity and is a lower priority for people with few or no assets. And asset protection can’t shield against all taxes or various liens such as mechanics liens.
10 Asset Protection Strategies
Asset protection is highly individualized. Every asset protection plan is likely to be different in some aspects from all or most other asset protection plans. However, there is a finite set of tools that can be used. Here are 10 of the most important:
Plan ahead. In most cases, when a lawsuit is filed or a tax bill is levied it is too late to try to protect assets. For best results, asset protection should be done before there is a need for it.
A limited liability company (LLC) is one of the most common, simple and effective asset tools for protecting assets. Creating an LLC and transferring real estate, vehicles and other assets into the LLC can shield them from lawsuits or other claims against the owners of the LLC. LLCs can also manage taxes by avoiding double taxation on corporate profits.
Asset protection trusts are irrevocable trusts that serve as repositories for assets removed from the control of the original owner. Assets transferred to an asset protection trust are often protected from creditor and lawsuit claims against an individual or business. International asset protection trusts based in offshore havens such as the Cook Islands and Nevis offer even more protection.
Family limited partnerships let owners set themselves up as general partners of partnerships owning assets they wish to protect. Family members can be made limited partners. This is an effective way to manage estate taxes.
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TNT:
Tishwash: The US chargé d'affaires confirms to the Prime Minister's security advisor: We will celebrate together on September 30th, Iraqi Sovereignty Day
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The Iraqi side, in a statement received by Iraq Observer, stressed the priority of preserving the country’s security and sovereignty, consolidating state authority and the rule of law, and restricting weapons to the state, as well as continuing to combat terrorism and corruption and supporting state institutions in a way that preserves stability and the higher interests of Iraq.
MarkZ: LATEST UPDATE: The Delay, the Reset & the Great Wealth Transfer
Jon Dowling: 9-28-2026 (Excerpts)
Jon: Hi everyone. Welcome to the monthly podcast with the one and only the original Mr. Mark Z.Joining us graciously from this humble abode to have the normal customary discussion of what we're seeing and uh what we see ahead to unlock what we're all waiting patiently and maybe not patiently but doing what we need to do.
Mark: Hey, we're watching just the news we've been getting this week from UN side. Big announcements yesterday. Uh Iran has decided they can back off the 60% and adhere to international non-prololiferation rules. So that is like a sudden change.
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KTFA
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FRANK26….9-28-26….AKI’S BOSS
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Frank’s team is Walkingstick, Eddie and Omar in Iraq and guests
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Rebwar Hamawais Summary of the news:
Iraq has called the withdrawal of US troops Sovereignty Day.
Masrour Barzani to the Financial Times: The withdrawal of US troops is at a sensitive time.
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GP Q: Iraq’s Sovereignty Days Holiday and 30-Day Roadmap
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Channel 8 English: Marking the first holiday of its kind, the Iraqi Council of Ministers has declared an official public holiday across all state institutions from Wednesday, September 30, through Saturday, October 3, in celebration of the Republic of Iraq's Sovereignty Days.
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TNT:
Tishwash: Full US Withdrawal from Iraq: Official Reveals Completion of Operation
An Iraqi government official announced on Sunday the completion of the US troop withdrawal from Iraq, noting that all combat and logistical support forces have left the country.
The official told the German Press Agency (DPA) that the withdrawal process is fully complete, although there has been no official confirmation from the US side yet.
Monday Coffee with MarkZ. 09/28/2026
MarkZ Disclaimer: Please consider everything on this call as my opinion. Be sure to consult a professional for any financial decisions
MZ: This week is starting with a bang, hopefully that means it will be a great one. We have a lot to unpack today, Wade and Gina from My Free Water join after the news.
THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY
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No drama. No intrigue. No songs and dances. Just straight, factual news that I read and interpret to the best of my ability after being an avid Dinar investor and insanely obsessed Dinarian for over 15 years.
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KTFA
Sunday Night Video
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This video is in Frank’s and his team’s opinion only
Frank’s team is Walkingstick, Eddie and Omar in Iraq and guests
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