What is the difference between asset protection and asset management?

Asset protection and asset management are two distinct concepts related to managing assets. Asset protection focuses on the legal measures taken to protect assets from creditors and other legal claims. This is done by taking advantage of laws like exemptions, transfers, trusts, and other legal instruments. Asset management, on the other hand, is focused on the proper management of assets. This involves setting financial goals, developing a financial strategy to meet those goals, monitoring and evaluating progress, and adjusting strategies as needed to maximize wealth creation. Asset protection in Georgia focuses on protecting assets from creditors through laws such as exemptions, transfers, trusts, and other legal tools. One example of a legal tool is a trust, which is a legal entity designed to hold and manage assets for the benefit of designated beneficiaries. Georgia also has laws protecting assets from creditors in certain cases, such as creditors attempting to go after the assets of those who are in bankruptcy. Asset management in Georgia focuses on the proper management of assets to ensure their security and growth. This includes setting financial goals, developing a financial strategy to meet those goals, monitoring and evaluating progress, and adjusting strategies as needed. Asset management services are most often provided by financial advisors, who are trained to help clients understand their financial situation, set goals, and develop plans to attain them.

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What is the difference between asset protection and asset management?

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