When we talk about retirement accounts, we're talking about all of those accounts related to a statute called ERISA, which has to do with employment, retirement benefits, and risks authorizing more than one type of retirement account. And you all are likely familiar with it.

Estate planning doesn't kick in until you're dead while asset protection reaches out and grabs safe harbors in the law that guaranteed that our wealth will not be lost to number one, unreimbursed medical expenses, long-term care costs. Number two, unnecessary taxation, and then even three, can we use asset protection trust to protect against mistakes, family mistakes financial mistakes, stock market risks.