If you’re a real estate investor with assets in your personal name you need to pick up the clue phone. You’re in the most litigated industry (real estate) and the most litigious country in the world. Anyone off the street can sue you. It’s time for you to get real. By the end of this article, you’ll know the steps you need to take to become judgment-proof.
You should at least spend a little bit of money to protect your wealth, especially if you’re investing tens of thousands of dollars into acquiring properties. Otherwise you might lose hundreds of thousands of dollars in just one lawsuit.
A Network Of LLCs and Trusts
Rich investors don’t own assets, and for good reason. When you own assets, people can sue you and get to them.
What you need is a network of LLCs and Trusts. Using those legal structures will protect your assets and hide them from people looking to sue you for your hard-earned money.
A network of LLCs and Trusts will make people think they have nothing to gain from you in a lawsuit. On paper, it will look as if you own nothing. At least, you as a person won’t. The company will. This means nobody will waste their time trying to sue you.
But let’s say they actually find out you own assets. It’s still highly unlikely that they’d win a lawsuit against you. And even if they did, they’d get next to nothing because your assets will be separated.
Why You Need an Asset Protection Plan Now
Can you afford to lose tens of thousands of dollars? That’s what you should be asking yourself, because without an asset protection plan your assets are exposed.
Before I became an asset protection attorney, I used to sue people. I know how these attorneys think when it comes to suing people. I know the strategies they use to see if a case against you is “worth it.” If they see that you own assets, they won’t hesitate to help someone sue you.
You can call me today to get set up with an asset protection plan to protect your assets. My firm will also connect you with our trusted CPAs to create a customized tax strategy to optimize your tax benefits and insurance.
As always, if you have any questions feel free to ask me in the comments below.
Learn more about asset protection. If you’re ready to get started, book your asset protection consultation now.