Asset Protection ‘Kit’ Lures Suckers

If you get an invitation to attend a seminar promising to tell you the secrets of how the super wealthy protect their assets, run.

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The folks that have put together these “free” seminars are just trying to sell you a worthless “kit” that you can put together to set up your own asset protection plan — at a cost of $5,000 per kit, says an article in Forbes.

Usually, the invitation will come from the “Society for Asset Protection and Doctor’s Education” or something similar. Doctors are often targeted as buyers.

When the seminar ends and the kits are made available for sale, a large group of attendees always rushes to the sales table, checks in hand, clamoring to buy a kit. Most are shills.

If you buy the $5,000 kit, you’ve been scammed, the article says.

What you get for $5,000 is some paperwork to set up a limited partnership or limited liability company, paperwork that you can usually get for free from the government.

And even if you get the paperwork, trying to figure out how to use it on your own can be tricky. Best to consult a qualified estate planning attorney if you are looking into asset protection strategies.

If you are interested in asset protection plans, feel free to call us for a consultation at (626) 696-3145.

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