Why Plan? The Need for Asset Protection

AuthorJeffrey Robert Matsen
ProfessionFounder and managing partner of Matsen Voorhees Mintz LLP
Why Plan? The Need for
Asset Protection
The Reasons
Over the last few decades, expanding theories of liability and the great proliferation of litigation have
given increased emphasis to Asset Protection Planning. Potential liability is now a major concern to doc-
tors, lawyers, business owners and other professionals of high net worth. Why is there such an increased
liability exposure? The reasons are varied and somewhat obvious, but it is wise to examine them in greater
1. Victim-Oriented Society
First of all, we now live in a victim-oriented society. There is a strong societal tendency to blame misfor-
tune and general ills on some specific person or entity.
We are mere mortals; there are many instances of misfortune that occur on a daily and almost routine
basis as a result of the imperfect world in which we live. Accidents happen, things get forgotten, mistakes
are made, and sometimes things just go wrong. In the past, society recognized these unfortunate occur-
rences as a part of life. But over the past few decades, some people have developed a strong tendency to
assign blame on someone or something instead of accepting the situation as a part of life.
This victim-oriented philosophy is based to some extent on the division of the “haves” and the “have
nots.” Victims of some of these misfortunes tend to place the blame on those who they perceive have more
than them. While some of this blame may be properly directed, it clearly should not act as an excuse for

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