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Written By: Kenneth J. Laino, Esq.

Schneider, Smeltz, Ranney & LaFond P.L.L.

Cleveland, Ohio

"Asset Protection" is not a substitute for insurance. In fact, insurance should be an integral part of protecting your assets.

There are many kinds of insurance. Each risk has to be evaluated on its own and a reasonable decision has to be made about the amount of appropriate insurance. For example, if you have teenage drivers in the family who are using your car, I would strongly recommend increasing your liability limits and making sure you have an umbrella policy.

Even when you have a lot of insurance, it is not necessarily a substitute for additional asset protection planning. Events can occur for which there is no insurance coverage. And damages could exceed policy limits.

All of this means that insurance coverage and other asset protection techniques go hand in hand. One is not necessarily a substitute for the other.

For more information about Asset Protection, contact Cleveland, Ohio Asset Protection lawyer Ken Laino at 216.539.8374 or learn more at or the International Society of Primerus Law Firms.