Brad Hart explains how to shield wealth from lawsuits by owning nothing personally and controlling assets through separate legal entities like LLCs and limited partnerships. The U.S. has an exceptionally high per-capita lawsuit rate, making asset protection a practical strategy for keeping personal net worth low while maintaining control.
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Own nothing and control everything. Another Rockefeller truism. You want to protect your assets from frivolous lawsuits and creditors. So the sad truth about living in the United States is that it has the highest per capita lawsuit rate in the world. That means that more people file lawsuits here than anywhere else. So how do you avoid this? Well, you can't. But you can simply put your money into other vehicles that you control but do not own yourself. So you want to keep your personal net worth as low as possible and have your assets owned by other companies that you control but that are not you. They're legal persons, especially aside from yourself. So that's a limited partnership, limited liability, limited partnership, a limited liability company. Those are three great examples of vehicles that, when used correctly, can protect your wealth from creditors. Now, this is not meant to avoid tax, just to protect your assets from bad actors out there. Insurance is another great way to protect both your assets and your earning power. If you need help protecting your assets like a billionaire, I have people who work with billionaires protect their assets. So just reach out and I can make a connection. Stay tuned for more.