Ike Devji, J.D., wrote a piece on his website entitled "How to Pick an Asset Protection Lawyer - Key Due Diligence Questions and Caveats". Mr. Devli bemoans the rapidly increasing number of unqualified attorneys claiming to be asset protection experts. These attorneys will wait until an expert has proposed an asset protection plan before advising a client on additional planning of dubious value, Mr. Devji claims. For prospective asset protection clients, Mr. Devji suggests ten "due diligence" questions (to be posed from client to attorney).
Posted by Michael Nissenbaum, Associate Editor, Wealth Strategies Journal
- Are you a lawyer or part of a law firm that will keep our discussion privileged?
- How many clients have you done this specific type of planning for?
- What's the average net worth of your clients?
- Where do you work?
- How many types of law do you practice and how long has Asset Protection been part of your practice?
- How many doctors do you protect? (This is a doctor specific question).
- Can you provide any professional recommendations?
- Have you written anything on this topic that outlines your tools and strategies?
- Can you provide a specific written plan that outlines costs, results and requirements?
- What kind of on-going support or education do you provide to your clients and at what cost?
Posted by Michael Nissenbaum, Associate Editor, Wealth Strategies Journal
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