Clients frequently ask what types of steps can be taken to protect them from liability (creditors, lawsuits, etc.). This can be a particular concern for some professionals that see themselves as easy targets for lawsuits (physicians, etc.) and for all kinds of people that simply want to protect the things they have worked hard for. Whenever we discuss asset protection and liability protection, we start with four available tools: (1) an umbrella insurance policy providing insurance in the event of certain types of liability, (2) professional liability insurance and/or errors and omissions insurance policies when available (3) the use of LLCs or other business structures when appropriate and (4) the possibility of creating an asset protection trust to shield certain assets/money from potential liability. The details of how these tools are utilized varies from client to client, but each can be an important option. In particular, asset protection trusts offer some unique possibilities to reduce the likelihood of financially devastating liability.