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It would not surprise many to learn that nine out of ten lawsuits in the world are filed in the United States. This is probably because many of us have been directly or directly been involved in lawsuits. A fresh lawsuit is filed every thirty seconds in this country. This has brought home the need for asset protection planning, as we need to protect our assets from frivolous lawsuits.

Asset management specialists help people protect their assets. These are people with prior experience in this field, who can help one protect his or her assets by drawing out a plan based on their strategy. They study creditors, lawsuits, court judgments, and investment opportunities among other things, to suggest the best possible plan to their clients.

Lowering the asset profile of individuals has long been an objective of asset protection planners. In the past, this was done principally to put a damper on frivolous lawsuits. Nowadays, one can never be sure whether this strategy will work or not. In fact, one can never be sure which strategy will definitely work. It has become difficult to figure out what will and will not work. Every promoter's 100 per cent bulletproof claim for his pet strategy has only resulted in confusing the customer further.

It is extremely important to carefully choose an asset protection specialist and not get fooled by gimmicks, where the promoters resort to mere verbal trickery rather than real action. It is important to look at the experience of the specialist before choosing one. One must also choose someone who is realistic rather than someone who promises you the stars. Of course, there is a possibility that none of them is right.

Finally, one of the most rational ways to appraise an asset protection planning technique is by checking out whether the technique has been tested in the courts or whether it has been identified by creditors as an asset protection planning tool.