Many people feel uncomfortable with the objectives of asset protection. They believe asset protection is either illegal or immoral, a device to cheat creditors of their rightful due. You may see this book as nothing more than a guide for certified deadbeats. But this is not the case. People seeking protection are neither crooks nor are they immoral. They are only savvy souls with a strong survival instinct. And they are taking advantage of the very laws designed and intended to protect against life's financial vagaries.

Asset protection, when properly practiced, is certainly not illegal. Of course, you cannot commit illegal acts, such as perjury, violate bankruptcy laws or fraudulently conceal assets from creditors. However, legitimate asset protection planning neither encourages nor permits these or other illegal acts. You can and must implement your asset protection plan, complying with all laws. This is the underlying rule to sound planning.

The ethical question is considerably more difficult to discuss. We each see things differently. Many people do consider it improper to shelter assets from those who may assert a rightful claim. Yet others believe there is no ethical obligation to expose or lose assets you can legally protect. Too many claims are unjustifiable, inequitable or frivolous, even those that result in a court judgment. Americans are victimized by too many unfair and baseless claims. These unfortunate folks prove that while life cannot be without its risks, it is illogical to needlessly participate in a legal lottery where you can unjustly lose all that you own on a spin of roulette-wheel justice. To survive, you must adopt this same pragmatic attitude.

Asset protection is financial self-defense in its purest form. It combats the frivolous and harassing lawsuits against our most productive and affluent citizens and companies, the "deep-pocket" defendants who become perennial targets only because they have exposed wealth. The well-protected are less inviting targets for a lawsuit. The bottom line is that wealth is good. Vulnerable wealth is bad.

You will join the growing ranks once you protect your assets. Only the poor or hopelessly oblivious are not protecting their assets or at least thinking about it from time to time. And many more attorneys enthusiastically, if not always competently, happily assist them. And this is why so many corporations, trusts, limited partnerships and a variety of other asset protection devices designed to achieve that mission flourish. The law endorses asset protection as a permissible and even desirable pursuit, as evidenced by the many laws created solely to protect assets.

If ethical or moral issues surrounding asset protection still concern you, take Step #2 and try this practical solution: Protect yourself! If you feel morally bound to pay a future claim, then surrender your assets to appease your conscience and sense of fair play. Asset protection at least gives you that option.