Asset protection refers to a wide range of measures intended to protect the assets of an individual. A certain amount of assets must therefore be available, a risk situation must be defined and a specific option must be offered for protecting the assets. A wide variety of risk situations can occur.
These days it is sometimes quite difficult for entrepreneurs to manage their companies without sometimes ending up with extreme liability risks. Anyone who has heard of punitive damages in the USA knows that seemingly trivial issues can sometimes trigger unbelievable liabilities. From this viewpoint it is clearly evident why a responsible owner of a company would want to secure certain assets for his or her family. This can be done using trusts or foundations.
It depends to a great extent on the existing situation, the primary residence of the affected parties and the risk they are exposed to. In certain circumstances, for instance, a conventional insurance solution may be useful for those types of cases. In order to prevent too much money from being tied up and therefore unavailable for business activities all of this must be accompanied by reliable asset management.