EPISODE #037

UMBRELLA INSURANCE: HOW TO PROTECT YOUR ASSETS

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5 Ways Your Wealth Is Under Attack book

5 WAYS YOUR WEALTH IS UNDER ATTACK

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Umbrella Insurance: How To Protect Your Assets

In this episode, John continues his series on the Wealth Curve Blueprint. This time he reviews umbrella insurance policies, which are the first step in protecting your assets.

John is the author of 5 Ways Your Wealth is Under Attack and It’s Your Wealth – Keep It.” He has lectured extensively on financial planning and is a recipient of the Five StarSM Wealth Manager Award.

John’s strength lies in his ability and commitment to continually improve the level and quality of the financial planning process. His macro view approach and dedication to his clients’ growth involves an evolving strategy that strives to meet the demands, desires, and needs of his clients in a continually changing economic environment.

Don’t miss John’s important points:

  • Step one in any asset protection program is getting umbrella liability coverage.
  • An umbrella policy gives you higher limits of liability on your house and car, but also covers things unrelated to them.
    • For example, let’s say you’re at the mall. Once inside, you trip somebody down the steps, and they decide to sue you. In this case, an umbrella policy can help protect your assets.
    • Let’s say you’re texting and driving and as a result run a red light and hit someone.  An umbrella policy will help you face that lawsuit for negligence.
  • Without this coverage, your income is at risk. Are you a high-income earner? If you have accumulated a lot of cash, that cash, your non-qualified brokerage accounts, and your non-IRA assets could be at risk.

Plus:

  • Every asset that is not “credit proof” or “collection proof” (which legally cannot be seized in the event of bankruptcy, divorce, or a civil suit) is at risk.
  • It is key to have the maximum umbrella coverage for your net worth.

When we build your Wealth Curve Blueprint, you can look at your umbrella liability as a function of your income and your net wealth. But if you don’t have the right amount of coverage, you have no time to build it up. Your protection must be maxed today. If you’re not covered today, and a problem happens tomorrow, you can’t go back and get a redo.

For more, listen above.

If you are new to Smallwood Wealth schedule a Wealth Curve Conversation here.

It’s urgent! Call us at 732-542-1565.

* This award should be subjectively bestowed, and the process of its receipt readily explained by objective data.
Investment Advisory Services provided by Smallwood Wealth Investment Management, LLC, an SEC registered investment advisor. Headquartered at 199 Broad Street, Red Bank NJ 07701-2056. Securities offered through Purshe Kaplan Sterling Investments, Member FINRA/SIPC Headquartered at 80 State Street, Albany, NY 12207. Purshe Kaplan Sterling Investments and Smallwood Wealth Investment Management, LLC are not affiliated companies.

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