Sins of the Children: Your Kid's Actions Can Destroy Your Wealth Unless You Protect It

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In Arizona, the 'Gilbert Goons'  have grabbed headlines - sending fear and concern throughout a traditional suburban community - a case where teens are charged with violently attacking others.

When things like this occur, one of the overlooked aspects of the legal system is this: THE LIABILITY OF THE PARENTS.

The assets of the parents of the alleged assailants are often highly at risk.  Is That Even Legal?

Meet Asset Protection guru Ike Devji. His clients have seven billion dollars under his guiding hand.  In his interview with the incredible Bob Sewell,  Here are some highlights:

From the moment you become a parent, your risk profile changes, and it is never too soon to consider asset protection.

Often, the children of affluent parents have access to choices and property that can elevate risk for their parents.

Parent's should always we aware of their insurance coverages, their business interests and risks and explore legal advice on how to protect their assets.

Your child may never cause an accident, join a group of "goons," or otherwise incur large financial risk for your household, but those who are prepared, preserve their wealth, says Ike.