Build the Wall!! #assetprotectionplanning #estateplanning #trusts

8 Mar 2023 · 1 min

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In this concise monologue, the speaker outlines a multi‑layered approach to safeguarding personal and business wealth. The first defensive wall is comprehensive insurance coverage—including homeowners, auto, commercial, personal liability, and umbrella policies. The second wall involves corporate entity protection by placing business interests in limited liability companies (LLCs), with a recommendation to house each rental property in its own LLC to isolate liability. The third wall leverages employee‑sponsored retirement accounts, which enjoy federal protection from creditors. The fourth wall introduces domestic asset‑protection trusts available in states such as Nevada, Wyoming, and Delaware. Finally, the speaker advocates offshore trusts in jurisdictions like the Cook Islands, Nevis, and Belize as the strongest shield against lawsuits. The talk concludes with a call to subscribe to the speaker’s newsletter for further guidance.

Chapters

To protect what we have, we must build a wall. Not that wall, doofus. I'm talking about a wall to protect what you own, your property, your money, your companies. First wall would come from insurance coverage, homeowners, auto, commercial, personal liability, and then get umbrella coverage. The next wall would be corporate entity protection. Put your business interests in an LLC. If you have rental homes, put each one in a separate LLC. This will protect your personal assets and limit any recovery the assets in that individual LLC. Another solid wall of protection comes from your employee-sponsored retirement accounts. Federal law protects whatever is in those accounts. And then there's the asset protection trust wall. States like Nevada, Wyoming, Delaware allow you to create these trusts in the United States. But the strongest and highest level of asset protection comes from an offshore trust. Country like the Cook Islands, Nevis, or Belize. You have significant assets and you're threatened by lawsuits, those are where you get the best protection. My newsletter, subscribe to it for more on my profile page under my L-I-N-K tree.