Customer Reviews

Complete Guide to Asset Protection Strategies

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I was very disappointed with this book, and only after reading it did I find out that Warda doesn't even practice in the area of asset protection, but instead just cranks out "self-help" type book (over 60, according to his own plug). The old phrase "Jack of All Trades, Master of None" seems to be particularly applicable to Mr. Warda's knowledge of asset protection, which translates into little more than a re-write of other (now outdated) works from last century. I guess you'll buy this if you want the entire Warda-on-everything collection, but take a pass if your specific interest is asset protection.

Describes a number of asset protections strategies, and for the real estate owner, explains how to combine the strategies together to potently isolate your liabilities and defend your assets. Read together with his book on land trusts.

From the aptly named Galt Press comes the Complete Guide to Asset Protection Strategies by Mark Warda, Attorney at Law. In modern America, no one remains safe from frivolous lawsuits. A person's entire life savings can vanish overnight thanks to a tort system that rewards envy and careless living. The American legal system authorizes tort lawyers to work on contingency fees with no penalty other than wasted time if they lose but huge payoffs if they win. This arrangement encourages the filing of frivolous lawsuits against easy yet wealthy targets. According to the author:

"The system is much more favorable to people filing suit than to people defending themselves. ... In England the loser must pay the winner's attorney fees, so only serious claims are filed. But here there is no risk to bringing a weak or even false claim. It is so expensive to defend a suit that often innocent people pay a large settlement rather than pay twice as much in attorney fees to win. ... England (and most other countries) forbid contingent fees for attorneys."

Producers work their entire lives, saving, investing, and building their net worth, only to have such a disaster strike. Under these conditions, the wise producer prepares for the worst by acquiring the knowledge he needs to protect his assets and then acting accordingly. This book offers such knowledge.

Warda divides his book into six sections:

1. Overview of Asset Protection Planning
2. Shielding Yourself Against Claims
3. Protecting Property in Your Name
4. Taking Property Out of Your Name
5. When Disaster Strikes
6. Your Immediate Action Plan

In total, 51 chapters articulate the content of these six powerful parts of an overall asset protection plan. In addition, Warda includes two appendices that delineate asset exemptions by state as well as offer camera-ready legal forms to help the reader to "cover his assets."

Whether you currently own your own business or work for an employer, whether you find yourself currently single or married, parenting or childfree, wealthy or poor, you need to make plans now to accumulate, title and protect your assets. Doing so can literally allow you to retain control and use of large portions of your wealth even if, as a last resort, you declare bankruptcy. According to Warda:

"Some have said that bankruptcy is too easy and that people with millions of dollars in exempt assets are abusing the system. I dare say that people who are being awarded millions of dollars for such things as "emotional damages" by using psychological profiles of jurors are no less guilty of abusing the system. Your use of bankruptcy can cure the abuse of a creditor's misuse of the courts."

Producers, en garde! Begin now to defend your wealth against the looters and moochers who would snatch it from your coffers! Your assets will thank you for it.