Asset Protection Success Stories - Are there any?

[Account Closed]

There are about a million posts about asset protection, usually having to do with asking how to go about doing it, or what the 'best' strategy is.  There may be posts about the topic I'm going to ask, but it's drowned out by the million general asset protection posts.

Here's the question:

Does anyone have an Asset Protection Success Story?

This could be any situation where because you had some form of asset protection, whether a legal entity, adequate insurance, or something else, the outcome for you was better than it could have been.

I am NOT interested in how your asset protection is configured unless you can demonstrably say you have used it.  For example, if your asset protection strategy is to have a huge, confusing labyrinth of entities obscuring the ownership of your properties, you can't say it's a success story because you have never been sued or had a claim.  You CAN say it's a success story if someone tried to do so, and couldn't, though.  Affirmative evidence of efficacy only, please.

My guess is there will not be many replies to this thread with actual success stories, and if there are any, most of them will be in the "my liability insurance paid the claim" category.  However, I'm very curious to find out if that guess is valid or not.

[Jay Hinrichs]

from my point of view if your an individual and not partnering with folks who ever is going to sue you is going to name you personally.. this is where you need good insurance to take up your defense as your first line of defense.

whether they have the right to sue you is immaterial.. or whether they will prevail is immaterial..

if your operating as a group or partnership and have clean records this can limit your exposure to your ownership.

other than that  retirement accounts should be maxed out they basically cant be touched... certain trusts.

but just LLC labyrinths like you mention.. those are not going to do it for most or.. you will spend a ton of dough fighting to make the position they can't sue you. when suits happen everyone is named .. that's when you need good insurance to handle your defense.