Asset Protection Tips For The Holidays
Unfortunately, over the many years of our advising clients, we’ve seen the personal as well as the financial toll that comes from not having asset protection planning in place regarding vehicle ownership, especially around the holiday season. While there are many factors in life which we cannot control, we like to focus on the things which we can; like these crucial holiday (or any time!) planning items.
- Don't drink and drive.
- Limit the alcohol consumption of your guests at holiday gatherings.
- Monitor children's parties.
- Don't own the car that your child is driving.
- Own the auto that you're driving, and your spouse should own the vehicle that s/he is driving - to avoid joint liability in the case of an accident.
This information is not intended to be a substitute for individualized legal advice. Please consult your legal advisor regarding your specific situation.