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Don’t Be Fooled by Utah Asset Protection Scams

by Norris Law Group on June 18, 2014

Don’t Be Fooled by Utah Asset Protection ScamsYou may have seen advertisements or gotten a piece of direct mail or an email inviting you to come to a “seminar” somewhere in Utah, at which asset protection will be discussed. If you happen to attend this seminar, you may hear cautionary tales about Utahns who did not take the proper steps to protect their assets, and wound up being sued and losing everything. The speaker may provide example after example, and by the end of the seminar, you may be chomping at the bit to get your hands on the “asset protection kit” that the speaker says will absolutely guarantee that you will not suffer the same fate as the poor suckers about whom you learned over the course of the evening. Furthermore, this kit will only cost you a few thousand dollars—a mere pittance when you consider what you could lose if someone sues you—and you’d better hurry, because others are running up to buy the kits, and only a few will be left by the time you get up there!

May we offer you a gentle word of advice? Don’t fall for this scam.

Jay Adkisson, an attorney and expert in wealth preservation, writes about such scams in an article for Forbes Magazine.  He says that one thing you should know right off the bat is that the people who “rush the stage” to buy the kits at the end of these asset protection seminars are paid to do so—they work for the seminar company, and are specifically trying to create a sense of urgency so that the “innocent parties” in the audience will feel compelled to buy the kits. While the kits may even come in a very professional-looking portfolio, it is likely that you could get the very same information from a reputable Utah asset protection attorney for around $100 or so, rather than for several thousand dollars.

Adkisson says that for some reason, these kinds of asset protection seminar scams have become commonplace throughout the state of Utah. Adkisson opines that Utah may have become a “hotbed” for asset protection scammers back when a company called Merrill Scott & Associates was able to bilk their clients out of millions with a similar scheme.

If you or someone you know has fallen victim to as asset protection scam in Utah, you may wish you contact the Federal Trade Commission to report your experience.  But in spite of Utah’s “bad reputation” in this area—for which the state is not responsible—reputable asset protection attorneys are available to help you decide which legitimate strategies may be right for you and your family.

Attorney Graham Norris and his associates at the Norris Law Group serve the residents of Utah County and throughout Utah in the area of asset protection. Contact them today at 801-932-1238 or online for a free consultation.

 

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