Well, you have most likely read on many Internet sites that Do-It-Yourself (DIY) kits are to be avoided like the plaque.  Many “advisors” both attorney and non attorney will say this.  Is this true?  Well, like so much in life, it depends. 

There are two main reasons that so many advisors recommend against it.  The first is that the advisor certainly makes a lot less money by selling one of these kits to you or by losing the sale to someone else who sells the kits.  That certainly applies to our company as well.  The second reason is that, in truth, many people use the kits incorrectly.

A good asset protection program is normally tax neutral.  However, many individuals do not understand how to do this and therefore make mistakes that can cause severe adverse tax consequences. Those experienced with asset protection can lead you away from these kinds of problems.  Also many do it yourselfers do not fully understand how to set up various entities in order to achieve the maximum in asset protection. They frequently fail to structure things correctly or to use all the forms that may be necessary. 

If you are going to purchase a DIY kit, then it is imperative that you do your homework.  Spend as much time as possible learning about asset protection and the potential tax and creditor effects of it.  Most asset protection specialists, who know what they are doing, have attended many seminars, advanced studies and have years in the field. So, it would be unreasonable that you could expect to know as much as they do with just a few days of study.  All in all they are not for everybody, but they do work for those few who do their homework, and are highly motivated to make it happen.