How Do I Become an Asset Protection Specialist?

Micah MacBride

If you want to become an asset protection specialist, then you will need to go to law school. This will require both academic and financial preparation. Law school admission is competitive, and the entrance exam for law schools requires extensive preparation in order for you to achieve competitive test results. In addition to preparing yourself for the academic components of law school applications, you need to protect your credit history in case you need to take out student loans for tuition and living expenses. Irresponsible financial behavior on your part can raise the interest rates that you will have to pay for your student loans, and a bankruptcy could disqualify you from getting a student loan altogether.

Businesswoman talking on a mobile phone
Businesswoman talking on a mobile phone

Individuals and business entities alike employ asset protection specialists to limit the amount of property and wealth that they could lose in the case of a lawsuit. These are lawyers who know how to use the current legal code to create vehicles that will make specific assets — such as investments, properties or liquid currency — immune from being seized as part of a lawsuit judgment. Asset protection specialists can find employment with both people and businesses who are seeking to protect their assets from seizure or with groups that are trying to find ways in which such properties could be seized.

Law students take elective courses in the areas of law that they wish to pursue professionally, in addition to their law school's core curriculum. If you want to become an asset protection specialist, then you will take these elective courses in areas such as corporate, tort, bankruptcy, and real estate law. The summers after your first and second years in law school are times when you can spend time interning for law firms, government agencies or small law offices. These internships give you the opportunity to get experience and training in the type of law that you might want to practice professionally. If you want to become an asset protection specialist, then you should apply to internships in law firms or offices that specialize in asset protection or similar financial services for their clients.

After you graduate, you can list these internships on your résumé to make yourself a competitive candidate for junior associate positions in asset protection firms. You also could get a job offer from the firm with which you interned, if you were one of its top performing interns. Getting such a position at a firm that does asset protection work is necessary to get training from lawyers who are already specialists and to get experience setting up asset protection vehicles. This training and experience will help you develop into an asset protection specialist.

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