Jerry Taylor walks through how to shield wealth from lawsuits and creditors using LLCs, trusts, and offshore accounts. The catch: you have to set them up before trouble hits. Once a lawsuit starts, it's too late.
Jerry, can you make me disappear? That's a pretty tall order, but in terms of what you own, I can come pretty close. How do we do that? Well, there are several tools depending on the size of the assets that you want to make disappear. You need to remember that there is no asset protection strategy that is 100% airtight. We start off with an LLC, we move to a Wyoming or Nevada LLC, then we get to an asset protection trust, a domestic asset protection trust, land trust. Yes, you can do it in every state. A Nevis Island LLC, a Swiss bank account, a Cook Islands offshore trust. But what is the key to all of these protection strategies? The key is you have to employ them before the need arises. If you're already in a lawsuit, it's too late. If you're already in a divorce, it's too late. If creditors are banging at your door, it's probably too late. But if you're in a profession that's likely to get sued often, start these strategies now and follow me to find out more.
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