Asset Control

Written by Rebecca Russell
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The Internet is an amazing tool and, in the short time of its existence, it has brought a wealth of information to the masses. A child in Minnesota can spend 15 minutes on the computer and find enough information on the Great Wall of China to finish a project, with facts left to spare. A runner in South America can map the route of the New York Marathon, book a flight and a hotel room, and realize his dream. The Internet has opened doors in almost every corner of the world.

A little information can often be a dangerous thing, however, and there are those who choose to abuse the gift of the World Wide Web. The Internet is a playground for those who are looking for ways to make money off of unsuspecting citizens. With a few minutes and the right websites, a person can access a list of any assets listed under a specific name and social security number. This information in the hands of the wrong people can lead to any number of false lawsuits, which could result in bankruptcy.

Simple Solutions for Asset Control

There are many easy and surprisingly affordable ways to avoid and protect against these types of situations. Taking control of your own personal assets is the first step to ensuring a sense of security when it comes to your home and your savings. A good consultant can advise you on what type of asset protection will suit your needs.

One simple strategy is to place major assets under separate names. For instance, if a married couple owns both a house and a business, perhaps the house could be in the husband's name and the business could be in the wife's name. This way, should either party be sued, at least one of the major assets is safe. Remember that protecting and controlling your assets, even if your savings are modest, is the best path to a healthy financial future.

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