Common Threats to Your Assets and How to Protect Against Them

In today’s world, there are many threats to your assets. And asset protection goes beyond the traditional financial and physical things such as bank accounts, homes, boats, art, and automobiles.

We now live in the digital age . Most people have accumulated at least some digital assets in addition to the traditional assets I mentioned above. With the digital age, there comes an ever-growing onslaught of threats to all assets, both digital and traditional.

Threats Are Multiplied in Today’s Digital Age

Today’s scammers use every possible avenue to fool people into giving up important information that gives them access to financial accounts. They steal identities, hack into email, credit card accounts, move into homes, ad infinitum. In other words, you must know how to protect against every conceivable threat to your assets.

The most common threats often come through the Internet; sometimes via emails or text messages. Often, they are simply tactics to make you think you’ve been hacked.

For instance, one common tactic is that your screen will first go black. Then, a red screen comes up saying that your network has been compromised. Next, there is a number you’re directed to call to restore service. However, these are always random and bogus events. When you call, you will likely be speaking to someone in another country. If you ask a few questions, you’ll quickly discover the fallacy.

A good friend of mine recently had this exact experience…

My friend was initially confused when her screen went black and then glaring red. She called the posted number.  Someone answered right away. After speaking with this person for several minutes, she asked where they were located. He said he was at Apple headquarters in California. She asked for the name of the town. He then said he wasn’t authorized to give out that information.

That’s when she knew it was a scam and hung up. Fortunately, she did not give any information that could be used to drain her bank accounts and steal her identity. The devastation that often happens with this scam was highlighted in a recent film called The Beekeeper, on Amazon. This is a common tactic to keep victims on the phone for long periods of time and get financial information, birthdates, passwords and more.

The Threat of Lawsuits

Another common threat to assets is lawsuits. People are more litigious than ever. This makes having an asset protection plan more important than ever in today’s world.

I encourage every adult to create an estate and asset protection plan which includes digital assets. Creating certain trusts will protect your assets from lawsuits. I also encourage everyone to be extremely cautious and to protect financial information. Do not share any financial information with anyone who calls you on the phone. Do not open emails from people or organizations you do not know.

Make Protection A Priority

Asset protection is integral in the world we live in. The threats are constant and growing in scale and number. You work hard to enjoy the fruits of your labor. Don’t let random criminals destroy the dreams you have for yourself and your family. Creating an estate and asset protection plan is one of the greatest gifts you can give yourself and your family. Give us a call today at (470) 235-7868 and let us help you protect your assets from the multitude of growing threats.

Looking to find an experienced estate lawyer in the Georgia area who is skilled in asset protection and estate plan preparation? Shannon Pawley is an attorney in Georgia with expertise in estate planning and asset protection. Shannon can provide assistance with creating an estate plan to include making a will and how to establish a trust properly. If you have questions about asset protection or questions about making an estate plan, reach out to Shannon and she will be glad to help answer all the estate planning questions you might have!