Protecting your wealth is a necessary, but frustrating, process. Whether you own a small business, or you just have a nest egg you don’t want vanishing, taking steps to secure your assets is crucial.
The sheer number of companies out there promising to help you do it are staggering. But are they trustworthy? Here are some red flags to help you avoid asset protection scams.
Red Flag – They Are Offering a Generic Kit
Kits are not immediately a scam. In fact, most of them are legitimate. Unfortunately, even the real ones are a bit on the risky side. Unless you have extensive knowledge of asset protection, a one size fits all kit may be missing important elements to your particular case that you won’t think to modify and include.
It is also possible to fill out forms incorrectly, and so damage your financial situation through additional taxes and fees a professional could have helped you avoid. Any good asset protection company will want to work with you one on one so you can avoid those risks.
Red Flag – They Don’t Ask Many Personal Questions
Your chosen wealth security service is going to have an annoying number of questions for you to answer. But however tedious going over every facet of your assets might be, it is the sign of a good and trustworthy company. They will want to know everything about your situation, so they can customize a plan that fits your needs to the letter.
If the company you choose doesn’t ask a lot of questions, they are not properly personalizing their advice.
Red Flag – They Charge Extra For Unlimited Support
You are turning to an asset protection service because you want someone in your corner, fighting for you. So what happens when that company tries to charge you extra to get that support?
While not illegal, this kind of payment structure is very shady. Support should be built into the price of your asset protection plan, and it is the whole point of having one in the first place.
Red Flag – They Distance Themselves From Potential Liability
This is one case where you have to pay attention to the fine print. While any asset protection company is going to protect themselves in cases of illegal actions taken by clients, that attitude shouldn’t extend to normal operations.
If you go through their fine print and you see various references to how they are not liable if you lose money, that may be a red flag. You are hiring the company in order to prevent just that occurrence. Why would they not be held responsible for failing to deliver on the service you hired them for?