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As an asset protection attorney, my job is to help you assess and mitigate risk.  In large part, my job is to help you fully comprehend where your assets are vulnerable to attack and then to advise you on strategies that can either reduce the risks or remove the assets from a position of vulnerability.

But Not All Risk Is Bad

Yes, you read that correctly.  Risk is what leads to new developments and improvements.  Without risk, we would live in a stagnant world.  The question is not whether you should take risk (because we are all taking risks every day).  Rather, the question are:

  • Are you fully aware of the risks you take?, and
  • Are you being appropriately compensated for those risks?

These are important questions that many of us fail to ask, but recent events make this an important topic.

Municipal Bonds: Are They Risky?

You might be thinking “no way, munis are incredibly safe.”  The correct answer, however, is “yes, municipal bonds are risky.”  That’s not to say they are unreasonably risky.  All asset classes carry with them some risk.  Even the cash in your wallet is at risk.  You could lose your wallet, you could get mugged, or the value of the dollars you’re carrying could decrease relative to other currencies.  Those things happen every day, so to think your immune is unreasonable.

There are also risks associated with real estate, stocks, cash, and yes . . . municipal bonds.  The questions you need to ask with respect to any portfolio are the two questions above: (i) are you aware of the risk, and (ii) are you being appropriately compensated for it?

It’s not the intent of this article to pick on municipal bonds, but because munis are traditionally viewed as ultra-safe investments, they provide an opportunity for reflection.  You see, Jefferson County, Alabama filed for bankruptcy protection.  It is one of the largest municipal bankruptcy in U.S. history, and cost creditors (bond investors) billions, not to mention higher burdens on taxpayers and residents for years to come.

Back to Asset Protection

Again, you should constantly be looking at the level of income you’re receiving relative to the risk you’re being asked to take.  Don’t accept less than reasonable compensation.  This is just a wake up call to those who believe that they are making “totally safe” investments.  In very simple terms, there is no such thing.  If you’re curious to read more about the Jefferson County Bankruptcy, the Wall Street Journal has a good article on the topic: Largest Municipal Bankruptcy Filed

If you have questions about asset protection or asset protection strategies, contact Lodmell & Lodmell today to schedule a consultation.  We’ll help you assess and understand the risks you’re taking, and we’ll help you protect your assets against potentially devastating events.

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Pashmina Lalchandani

CEO & Co-Founder, Bar & Cocoa / Owner, Flow Simple
December 9, 2010, Douglass was a client of Pashmina’s

I’ve known Doug in many contexts, as a friend, as a client and as a business partner and he impresses me on all levels. He’s dependable, smart, generous and I wouldn’t hesitate recommending him and his law firm to anyone.
He’s the best and most ethical lawyers providing asset protection with rock solid strategies to give you peace of mind about your wealth. Straight forward, and straight talk. Doug is exactly the lawyer I want on my side. If I send someone to Doug, I know they’ll thank me for it!

Social & Solar Entrepreneur, Pan Afrikan Theorist, Translator/Interpreter,
Founder & Visionary Leader @ Afrikanpride.
March 12, 2011, Marlon E. D. J. worked with Douglass but at different companies

Doug is one of the most powerful thinker i have came across. During the short time that i have known Doug he has been a great source of inspiration. He has a simplistic yet effective and accurate way to analyze anything you bring to his attention, and then by asking you key questions he gets you to see the light at the end of the tunnel. Besides being extremely bright, he is a genuine and caring individual which is why I feel fortunate to know him. I can say without a doubt that he his the person you would want to talk to if you were in need of a person with his expertise.
Most of the lawyers out there will probably meet your needs, but if you are looking for someone to exceed your expectations and give you that wow factor, look no more he is the person for the job.

Patricia Salter

Associate Dentist at Smileology
December 1, 2010, Patricia was a client of Douglass’

I have been a client of Douglas Lodmell’s since 2001. My main concern was asset protection in this litigious society. I can sleep alot better at night knowing I have the instruments in place to protect the fruits of my labor, and that they will not end up in the hands of a slick trial attorney.

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