Lawsuits are more common than most contractors realize. Taxes quietly drain profits year after year. And without proper planning, even a successful construction business can leave behind confusion, delays and lost value instead of a lasting legacy.
Those realities are at the heart of Lawsuit Protection & Tax Reduction Strategies, an education session at CONEXPO-CON/AGG 2026, led by Larry Oxenham, senior advisor at the American Society for Asset Protection. Attendees will learn where they may be exposed and how proactive planning can safeguard their business, personal assets and future.
“It takes a lifetime to accumulate your assets,” Larry says. “Take the time to protect them.”
LAWSUITS ARE NO LONGER THE EXCEPTION
A first step to protecting your assets is to avoid lawsuits. Legal action has become a routine part of doing business in the United States, with millions of lawsuits currently pending and new cases filed constantly. Contractors face risk from multiple angles, including payment disputes, construction defects, contract issues, workplace injuries and employment-related claims.
What many contractors don’t realize is that personal responsibility isn’t required to face legal exposure.
“You don’t need to make a mistake to face a lawsuit,” Larry explains. “Vicarious liability allows you to be held responsible for the actions of others, even when you personally did nothing wrong.”
That reality catches many business owners off guard, especially those who believe strong relationships, good intentions or a clean track record are enough to protect them. This session reframes that thinking, focusing on why understanding exposure matters just as much as preventing mistakes.
WHY INSURANCE ALONE ISN’T ENOUGH
Many contractors feel that insurance protects their assets, but that is not always true. Insurance is often viewed as the first and only line of defense. While coverage is essential, it isn’t designed to solve every problem. Judgments can exceed policy limits, exclusions can apply and coverage can be denied entirely, leaving contractors personally exposed.
“As judgments have increased over the years, some advisors simply tell professionals to get more liability insurance,” Larry says. “This is problematic, as larger policies are costly and often serve as homing beacons for trial attorneys.”
Rather than reacting after a claim occurs, this session focuses on how contractors can think more strategically about risk before they’re forced into costly decisions under pressure.
“Don’t just leave your business. Leave a legacy.”
Larry Oxenham
American Society for Asset Protection
THE SILENT DRAIN: OVERPAYING ON TAXES
When looking at your financial picture, taxes can’t be overlooked. Taxes are one of the most predictable expenses contractors face, yet many unknowingly overpay year after year. Millions of taxpayers leave money on the table simply because they don’t take advantage of the laws already available to them.
The session explores why tax reduction isn’t about aggressive shortcuts or questionable tactics. Instead, it’s about awareness, planning and understanding how income and expenses are treated.
The broader takeaway is clear: contractors who focus solely on revenue growth without examining tax strategy may be giving away thousands of dollars each year unnecessarily.
WHAT HAPPENS TO YOUR BUSINESS IF YOU’RE NOT THERE?
Another important, and often avoided, financial strategy is succession and estate planning. These are often postponed because they feel distant or uncomfortable. But without a plan in place, contractors leave critical decisions up to courts, attorneys and timelines they don’t control.
“If you were to die this week, what would happen to your assets? Most contractors can’t answer this question,” Larry notes.
Without preparation, assets can be delayed in probate, subjected to unnecessary costs or distributed in ways that don’t align with the owner’s wishes. The consequences extend beyond finances, affecting families, employees and the continuity of the business itself.
“Probate is time consuming, costly and public,” Larry explains. “The only person that benefits if your estate goes through probate is the attorney.”
This session emphasizes why planning ahead isn’t just about protecting wealth; it’s about protecting people and preserving the intent behind what you’ve built.
PROTECT WHAT YOU’VE BUILT
Rather than tackling lawsuits, taxes and succession planning in isolation, Larry will bring these issues together into one strategic conversation. The session is designed to help contractors identify where they may be exposed, challenge common assumptions about protection and understand why waiting can be costly.
Attendees will get a chance to step back, assess their financial foundation and learn why proactive planning today can help protect their business, their family and their future.
“Don’t just leave your business,” Larry says. “Leave a legacy.”
Secure your business, your assets, and your legacy at CONEXPO-CON/AGG 2026's session, Lawsuit Protection & Tax Reduction Strategies. Register today.
Photo Courtesy of CONEXPO-CON/AGG
