Brian T. Bradley, Esq. is the Senior Managing Partner at Bradley Legal Corp and is a leading Educator and nationally recognized Asset Protection Attorney for High Risk Professionals, Entrepreneurs, Real Estate Investors and Ultra High Net Worth Families.
Brian’s goal is to give you “peace of mind” knowing your assets are safe.
We talk about the following…
- What is Asset Protection
- What has changed in the legal system over the last 30 years.
- How do you properly layer an asset protection plan?
- What is an asset protection trust and how are domestic and foreign trusts different?
- What are the misconceptions of LLCs?
Brian starts us off with sharing:
“Where are you now and where are you going for the future because where you are now is not where you’re going to be later down the road…”
Now, that may seem like a riddle, but Brian is right. We cannot rely on “one day” — that’s just one vague future. We must be strategic!
You must have an asset protection plan, specifically.
Brian goes on to say that, “A revocable living trust only goes into effect when you die– you do not reap the benefits when you are living and if something happens to you while you’re alive.– it will not protect you in any suing scenarios.”
I cannot stress this enough. Please be mindful of where you are putting your money and to be certain that you AND your family are set up for success…while you are alive, too!
4 things for asset protection to work:
- Your system must be seen as impenetrable
- Must be managed properly
- Cannot attract a lawyer
- It just MUST work
- Asset protection is the modern best bet.
- Keep your assets in another name OTHER than your legal name– get an LLC.
- Have an effective plan, always!
- For assets that are real estate, use the state that the real estate is located in because you’re not gaining anything by using another state. You’re just doubling your maintenance cost! So, just keep it simple and properly layered.
- Success is not overnight.