Mark Kohler argues that asset protection depends more on how you behave than which legal structure you choose. A Wyoming LLC or trust only works if you also maintain proper contracts, corporate minutes, and formal records. Get two professional opinions before buying any entity online.
Chapters
Hey, I want to help many of you out there that are searching for asset protection and maybe getting sold a Wyoming LLC or some crazy irrevocable trust. Rockefeller Trust, something like that. Please. The real threat to your asset protection is behavior, not structures. Now, I want both. I want you to have a good entity where you're doing business or your assets are at. And we want to be smart with our behavior. Signing good contracts, not doing good handshake deals, good lease agreements, maintaining our entities with minutes and having a good corporate book. Not one sheet of paper from LegalZoom. That's not an entity. Good luck in court. But when we can be smart with our behavior and have a good structure, and that doesn't mean setting up a Wyoming LLC unless it's absolutely necessary. After I get two opinions and not someone trying to sell it to me online, Please be careful. I unwind. I swear. Half of the Wyoming LLC is. We have come through our law firm and we set up a Bunch of Wyoming LLCs. Typically for the people that didn't see it online, it's kind of weird. Anyway, just be smart with your investing. Continue to study and learn about asset protection. Come to our360 event, listen to my podcast, look at my articles. I've got some affordable books. You don't have to spend thousands to get good asset protection. It's behavior combined with some basic good structures, that's what will protect your assets.
