Asset protection is a way to keep your assets out of the hands of creditors and predators. It will either prevent future lawsuits, or protect your assets in case of collection. The goal is to use certain techniques to protect your assets legally with the advise of a reputable attorney. Asset Protection Basics There is no 100% bulletproof way (yes, those claims are bogus!) to do asset protection, especially if a lawsuit has been already filed or is about to be filed Asset protection needs to be obtained early on before you even anticipate needing it Asset protection is done.