From Money Crashers:

The best offense is frequently a good defense. No matter how astute a business person you are, or how skilled you are as an investor, or how lucky you are with your lottery tickets... it does little good if you leave your assets hanging like a slab of meat in the water for trial lawyers to sink their teeth into.

Let's face it: America is growing increasingly litigious, and the more assets people think you have, the more tempting a target you will become for frivolous lawsuits.

... Make no mistake – bad things happen to good people all the time. You don't have to be irresponsible or negligent to get sued. To protect what you have, it's vital to take some defensive measures, to make it more difficult for creditors to seize your assets in the event you lose a lawsuit, have a judgment entered against you, or are forced into bankruptcy.

1. Use Business Entities

If you are an entrepreneur of any kind, it's important to...

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More on asset protection:

How to become financially independent in three years or less

An ideal way to keep some of your physical gold and silver safe

Protect your wealth now: A step-by-step guide anyone can follow