Years ago, Donald Trump endorsed a series of books for his university written by experts in the financial sector, including one titled, “Trump University Asset Protection 101.”
With his meteoric rise in politics as a truly one-of-a-kind candidate, controversy is bubbling around the former reality-TV star’s past business dealings, including his university, with thousands of former students claiming the courses they took had no value.
“The world has had its fill of Trump, yet it seems to want more,” says attorney Hillel Presser of the Presser Law Firm, P.A., which specializes in comprehensive domestic and international Asset Protection.
“Love him or hate him, there could be at least one great takeaway from Trump’s media storm: maybe it’ll encourage some to look more closely at their financial vulnerabilities.”
Helping educate the average person on asset protection is why Presser wrote “Financial Self-Defense” (www.assetprotectionattorneys.com). He says there are several reasons people should take steps to safeguard whatever wealth they have.
• The world is a minefield of threats to your hard-earned money. Lawsuits, which can be unpredictable, often drive people to asset protection – and for good reason. The tort system in the United States is the most expensive in the industrial world, accounting for 2.2 percent of the gross domestic product. The annual cost of litigation in the U.S. is $867.4 billion. And don’t assume your good behavior will always protect you. Consider the school teacher defending a $5 million lawsuit because she dismissed a student caught cheating on an exam.
• You don’t have to be wealthy to benefit from financial self-defense. Wealth is relative. If an old car and a small bank account are all you have financially, it still makes sense to protect them. Hard-working folks across the country are worried about creditor problems or lawsuits, and what little they have is precious to them. There are cost-effective ways for them protect their money.
• Liability insurance doesn’t always protect you. Liability insurance is important, but it’s just a starting point. Most lawsuits and other financial claims aren’t insured, or your insurance company may deny you coverage on your claim because of an exclusion. You need more than insurance, which covers few financial catastrophes. You need a full, robust self-defense plan.
“I wouldn’t have thought that a presidential election could possibly highlight the importance of asset protection, but here we are,” Presser says. “These are interesting times.”
About Hillel L. Presser, Esq., MBA
Hillel L. Presser’s firm, The Presser Law Firm, P.A., represents individuals and businesses in establishing comprehensive asset protection plans. He is a former adjunct faculty member for law at Lynn University and offers complimentary copies of his book “Financial Self-Defense” through http://www.assetprotectionattorneys.com.