As a real estate investor, you have to understand that lawsuits aren't a business.
If anybody is looking to sue you, they're looking to get money out of you.
A proper asset protection strategy keeps people from finding out what you own.
If they ever were to see you, it limits what they can get from you.
More importantly, a great asset protection strategy exhausts their will and their resources to fight you.
This keeps people from continuing with the lawsuit.
It gets them to settle early. It gets them in most cases to stop the lawsuit before it even starts.
What you have to understand is that because lawsuits are a business the main part is how do we get money out of somebody when we sue them?
This is what asset protection strategy fights.
This strategy protects the assets from being seized by somebody via a judgment. This person doesn't believe that they are getting anything out of their investment in a lawsuit.
Lawsuits are only paid for in two ways: Either you pay an attorney to sue or the attorney takes it on contingency.
If an individual is researched and found to have no assets on paper, how much money should you be willing to risk for a judgment?
Moreover, there's no attorney who is worth his salt that is ever going to take a case like that on a contingency. Contingency is free for the client. The attorney risks everything.
In addition, attorneys only accept fire cases that they are very confident they can win and collect on. So, when you ask yourself how do I protect myself from a lawsuit? what you should really be asking yourself is: how can I make it seem as if I don't own anything?
Scott Smith, an asset protection attorney for real estate investors, is a real estate investor himself and would like to help you.
Scott Royal Smith is an asset protection attorney and long-time real estate investor. He's on a mission to help fellow investors free their time, protect their assets, and create lasting wealth.
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