[00:08] If you're thinking of waiting to set up your LLC structure duct, the fact of the matter is that if you're sued, it's already too late. Transfers after the fact of even when a lawsuit is threatened before it's even filed can be considered a fraudulent transfer and a fraudulent transfer of doesn't mean necessarily that you did anything that was shady. All it really means is that you transfer the property outside of the normal course of business, so it means that you have $100,000 property. You would have to have sold it for $100,000 to somebody. You can't sell it to your niece for a dollar thinking that you're going to be able to protect it. The law favors the proactive in the sentence. You need to move all the properties before you ever think that there's going to be a problem with potential lawsuits. Don't think that waiting is going to be an appropriate measure in this circumstance. Contact specialist, call us at royal legal solutions. We can give you a consultation to be able to let you know what you should do for your particular circumstance. My name is Scott Smith. I'm an asset protection attorney in Austin, Texas. I'm a real estate investor and I want to help you.
[01:23] Hey, thanks for watching this video. If you want more high quality content just like this, you can find it here on our youtube channel are going to our website, royal legal solutions.com we have a ton of free content from our blogs or videos, the podcasts that I had been featured on. Whatever question you have, we're going to have it there for you for 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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