FLP vs. LLC — What’s the Difference?: This is an excellent description of the basic functions of two very distinct types of business organizations, both of which serve unique purposes in the world of asset protection. Both family limited partnerships and limited liability companies have important functions in terms of keeping assets out of the hands of creditors.
What is the Ultimate Asset Protection Plan?: Title says it all. . . . A discussion of the “Gold Standard” in asset protection, a mechanism that has thus far proved to be full and fool proof in terms of protecting assets from creditors.
Asset Protection in Divorce: The gist of this piece is that if you are headed for divorce, do everything you can to make it a collaborative process with your spouse. Nobody wins when a broken marriage is subjected to the legal system–nobody except the lawyers. The best way to protect assets in a divorce is to look at the law and reach an agreement with your spouse on the division of assets. There is currently a huge movement towards a mechanism called “collaborative divorce,” so if you must hire attorneys, hire collaborative attorneys. It’s the best way to avoid the legal system, which is a place where your assets are always at risk.
Should you Sign on Behalf of your LLC, FLP or Trust?: This article is full of practical advice and requires a lot of self-analysis, which we all need to do. This is a an excellent article that should be revisited from time to time, so that we can avoid falling into the habit of being lazy.
The Importance of Asset Protection In a Bad Economy: In a bad economy, people with unprotected assets are more vulnerable than ever. That’s because when times are tough, some people will turn to filing frivolous lawsuits as a way of making money. In a bad economy, everything from dog bite claims, to employment-related lawsuits, and slip and fall claims go through the roof.
Why Medical Malpractice Insurance May Not Protect You: Okay, okay . . . this one is industry specific, but it’s VERY important. The idea that malpractice insurance protects you just might be counter-intuitive. The existence of insurance is like chum in the water for plaintiff’s attorneys, because it guarantees them a trial at worst, a bad faith judgment at best, and an acceptable settlement offer someplace in the middle. Insurance protects you, but it also makes you a target, to the say the least. One alternative is to forget insurance–or go bare–and protect your assets.
Lawsuit Lottery Hell: A very real look at the current mindset in the U.S., the most litigous society on earth. It’s also pretty funny and brings some levity to an issue that should concern all of us. Pay close attention to the point made at the end of the video. It will ring true for many situations in life.
Asset Protected Investing: This is the future, and it will be a revolutionary idea when viewed in retrospect. This is the start, the baseline. Make sure you also read Asset Protected Investing Part 2.
Client Workshop & Mastermind Seminar: Just throwing this one in for fun and to show you that Doug’s client’s are satisfied clients. Doug Lodmell–the world’s number one asset protection attorney–put on a client workshop and showed us all some pretty cool tactics to achieve new personal heights. It was a fantastic weekend of fellowship and growth, and my hope is that we’ll have more opportunities to gather like this in the future.
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