Law is your brick house
The law is your brick house and defensive armor against hostile forces. In many ways, the practice of law is like a chess game. Chess is a mind game involving attack and defense. Staying several moves ahead of your opponent is the key to victory. “In life, as in chess,” wrote Charles Buxton, “forethought wins.”
A well-devised strategy is essential to capture the King. You must learn when to employ castling techniques if the King is under pressure. The game of chess may invariably reflect the core principles of asset protection law. Robert T. Kiyosaki, in Rich Dad, Poor Dad (2000) strongly recommends asset protection as part of an overall financial strategy “We live in a litigious society. The rich hide much of their wealth using vehicles such as corporations and trusts to protect their assets from creditors.
When someone sues a wealthy individual they are often met with layers of legal protection, and often finds that the wealthy person actually owns nothing. They control everything, but own nothing. The poor and the middle class try to own everything and lose it to the government and to fellow citizens who like to sue the rich.” Ellen Alderman and Caroline Kennedy in their book The Right to Privacy (1995) wrote that in most cases, the majority of defendants do not have the financial resources to pay for the injuries and damages they may have caused. “The law often
insulates some defendants by allowing them to declare bankruptcy but keep certain valuable assets (such as a home or land, even lavish estates) safe from legal judgments.’
Asset protection is the key to lawyers who are in the business of protecting the properties of their clients (Osborne, Asset Protection:
Domestic and International Law and Tactics). The subject of asset protection is multi-layered, and each layer represents a different discipline which is complex in its own sphere. Every judgment is another hole in the legal fortifications you may have improperly erected. It will not be long before these holes will send you crashing, unless you have judiciously prepared for this eventuality. Perhaps, we can all learn from the techniques used by financially successful persons who have built legal structures wrapped around their assets.
Tags: Law