Asset Protection Planning Stress Test



(If you don´t want to protect all you have worked for, then don´t bother reading this…)


Alan G. Orlowsky, Attorney at Law

As an Attorney with over 30 years of experience practicing law, on a regular basis, I am still challenged by the same common legal mistakes and omissions well educated, fore-warned, and intelligent individuals just like you make because they fail to plan for business failures, lawsuits, illness and, inevitably, death! Of course, there are always new wrinkles to the challenges I face, but the theme never really changes ~ people just fail to plan and often with devastating financial and personal consequences. I advise my clients that it is better to pay me a little now than to wait and pay me and, perhaps, a successful adversarial party, a whole heck of a lot more when things head south and explode in their faces!

But fortunately for my clients, whether that client is a business or an individual, I am on a mission to protect them (as well as the general public) from the consequences of failing to engage an attorney in order to plan for the future. Consequently, I have created a short, one-minute “Asset Protection Planning Stress Test” to help save and protect them from the vagaries of an uncertain world. Accordingly, following below are 10 questions that if read and answered properly will help you to determine if you have the legal firewalls, belts, and suspenders needed to protect your business, your personal wealth, and family from the unintended consequences of poor or no planning. By the way, you have to score 100% on the questions that pertain to your situation to pass the test! This may seem unfair, but frankly, it is the standard I am judged upon and the only standard that ensures that my clients will be protected if and when things head south. After all, you hire a consultant to give you the correct answer 100% of the time ~ 90% just doesn´t cut it in the real world! To take the test, please continue reading.

Asset Protection Planning Stress Test

  • If you own a corporation, does your corporate record book include by-laws, shareholder and board of director minutes, stock certificates, ownership ledgers, recorded articles of incorporation, and annual minutes?
  • If you have an LLC do you have an LLC minute book that includes an operating agreement, up-to-date member resolutions, articles of formation, and membership certificates?
  • If you have employees does your business have an employee handbook?
  • If you have a business partner or partners, do you have a buy/sell agreement funded by life insurance?
  • Do you have a business succession plan or exit strategy if something should happen to you or if you want to retire?
  • Have you had a recent audit of your business and/or personal insurance needs and requirements completed by an outside expert to ensure that all your insurance needs are taken care of and that you are paying the lowest prices offered in the marketplace?
  • If you are married, does your spouse own at least one-half of your personal assets?
  • Do you have a personal umbrella policy?
  • If you have a business failure do you have a plan to save your residence and other personal assets?
  • Do you have an up-to-date estate plan with a current will, revocable trust, health care power of attorney, durable power of attorney, and life insurance trust?

If you have answered all the above questions that pertain to you “yes”, I owe you lunch. But since you probably have not scored 100, please don´t fret! Because if you are interested in meeting with me to initiate the planning you require, I am willing to discuss your situation over lunch at any time ~and I will buy!

To schedule your free initial consultation, email or call us today! 847-325-5559

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