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January 6th, 2012

True Asset Protection

By Lee Brower

When you hear someone mention “asset protection,” what comes to mind? Do you think of words like lawsuits, seminars, off-shore trusts, money, business, bankruptcy, financial security, etc.? Which Quadrant do you normally associate with “asset protection?” Most everyone thinks exclusively of the Financial Asset Quadrant. How important is it to protect those assets we value most—our family, health, values, heritage, experiences, philanthropic passion and others? What system do you have in place to proactively protect all of your assets? Asset protection for those who utilize the Quadrant Living System means proactively and systematically protecting all of our assets.

All too often we become consumed with the rigors of daily life—so much that we find ourselves in a reactive mode rather than a proactive mode. Without a system we will inevitably spend far too many hours and too much money on correcting problems and trying to get back on track. Here are a few examples:

• Some of us will lose our health getting wealth, only to end up losing our wealth getting health.

• Some of us will wait until April to find out from an accountant that we owe the IRS a huge amount of money.

• Some of us are in denial about whether our children will ever do drugs. Twenty-two percent of all kids in homes where there is a strong parental involvement will still experiment with drugs! Where there’s less involvement, that number is much higher.

• Some of us wait until the funeral before we realize we could have captured life’s experiences for our benefit and that of future generations.

• Some of us put up fancy security systems to protect our homes and children, but do not have an effective system to protect our loved ones from the invasion of Internet pornography. Even if you do have security on your Internet system, most kids know they are only a few key strokes away from circumventing it.

• Some of us may sell a business or exercise stock options or invest in a business opportunity with tremendous upside potential, and then try to restructure ownership to protect assets or save taxes, after the fact.

• Some of us do a wonderful, albeit, haphazard job of making charitable contributions that involve only ourselves (and not the rest of the family) and our checkbooks.

Take some time this New Year to look at the Brower Quadrants: Core Assets, Experience Assets, Contribution Assets and Financial Assets. Ask yourself what you are doing to protect your most important assets.

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