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Beyond insurance: How to protect both the business and personal assets

from By David B. Mandell, JD, MBA, and Jason M. O'Dell, MS, CWM

In our litigious society, business owners, as well as their companies, are high-visibility lawsuit targets. Lawsuits and claims from employees, customers, competitors and even the government are part of doing business today — in virtually every field, including manufacturing. Unfortunately, many such owners and business executives think that insurance is the only viable protection tool to shield their businesses and themselves from such litigation risks. However, as we will explore in this article, insurance policies have their limitations and drawbacks. Moreover, there are other techniques that can be explored to shield and build wealth and often save taxes. If you are interested in learning how to shield your business and personal assets while also reducing taxes and building wealth, please read on. more

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