This blog discusses estate planning and asset protection issues. I use the term War Chest because we are (and have always been) in a an economic war. The current economic and political environment can only be described as warfare. It’s gotten much worse lately but owning wealth has always been coercive.
Throughout human history, property rights were enforced, usually with violence. Owning property is coercive because it is “held against” others. The claim “this is mine” has always been answered with “says who or says what?”. Brute force and violence often resolved competing claims. All economic systems rely on state coercion and it’s important to grasp this fact to protect your property.
Property owners in early human history had to defend property themselves, hire others or erect defenses to help them fight off competing claims. Modern government and law protect private property rights but force is still utilized. Make no mistake, property ownership remains coercive. There are powerful legal and political forces placing your wealth at risk every day. The first notion, then, for your Estate Planning War Chest, is that wealth is always under siege. I’ll explain in the next post how current politics, law and economics frame the battlefield.