In this episode of Coffee with Carl, attorney Carl Zoellner talks about the limitations of business insurance and why insurance alone isn’t enough to protect your assets.
Updated March 16, 2021
You may have heard from your CPA that business entities are not necessary if you just buy more insurance. Insurance is great, and an important piece of your overall asset protection strategy. However, insurance alone is not enough to protect your assets.
Consider this: if you were going to rob a home, would you pick a house with an alarm system and vicious guard dogs? Or, would you pick the house with no alarm system, no dogs, and an unlocked front door? When you have a lot of assets that aren’t held inside business entities, your assets are as vulnerable to attorneys as an unguarded house.
When attorneys consider potential plaintiffs, they look for the available assets they can easily discover. They do this to know whether the case …