We help insure against what can go wrong so that our clients have the luxury of investing in what can go right. Risk management is intended to minimize financial and other losses potentially associated with risks to your assets, business, or health. Some examples of risk are personal and professional liability, business ownership, property loss, catastrophic illness, disability, or death. Your first line of defense is to identify your sources of risk and then to either avoid or minimize the major exposures.
Asset protection planning manages risks to your wealth. Lawsuits, accidents, property damage, senior care, etc. are facts of everyday life and asset protection planning looks to transfer the risk of these events through:
- Repositioning asset ownership
- Other protections available under the law
Starting and running a business carries its own set of risk exposures. Certain factors can have a huge impact on how safe your personal and business assets are from risk. These include:
- The type of business entity you choose
- The state you choose to do business in
- How you manage your business
- Your human resources
- Your taxes
Business risk management identifies your options for handling these risks.