Book Review: “So Sue Me!” by Arnold S. Goldstein, Ph.D

We always look for ways to make money but, strangely, we ignore the equally-important part about keeping the money. Author Arnold S. Goldstein, Ph.D is perhaps America’s top asset protection attorney. You know, it’s crazy we don’t spend more time protecting what we earn, since we can potentially lose it faster and easier than we can earn it. In his best-selling book, So Sue Me! How to Protect Your Assets from the Lawsuit Explosion, Goldstein has some sobering statistics:  In America, “There’s a one in five chance that you will be sued next year. (One in three if you are a doctor or business owner.)” America has 90% of the world’s litigation. And keep this in mind: “You don’t have to do anything wrong to get sued and to lose.”  And you can lose everything, unless you protect yourself — and the time to set up asset protection is now and not when you get sued.

Goldstein’s book is a fast, easy, no B.S. read. This reviewer did it on a 3-hour plane trip. There are, essentially, three ways to protect your assets 1) Owning exempt assets; 2) Titling your assets in one or more protective entities/firewalls (LLCs, for example, instead of sole proprietorships); and 3) Encumber or equity-strip assets to make them less valuable to creditors. The author goes over each of these in good detail. And it’s not just for the rich. If your net worth is $25,000, you need to protect that $25,000.

Goldstein discusses offshore asset protection strategies as well. The thing to remember here is that the goal is NOT to avoid taxes. The goal is to use legal means to increase your protection.

(reviewed by http://www.richdogmillionaire.com/)

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