Mon, 25 February 2019
In a perfect world, honest real estate investors would never have to deal with frivolous lawsuits. But we live in the real world where being sued is a very real possibility. So, how do you protect yourself so that an angry tenant cannot get to your personal assets? What kinds of insurance do you need to protect your real estate assets from an ‘outside attack’? And where should you set up a holding company to take advantage of the strongest possible asset protection laws?
Garrett Sutton is a corporate attorney, asset protection expert and bestselling author with 30-plus years of experience supporting entrepreneurs and real estate investors. He serves as Rich Dad Advisor and asset protection attorney for Robert Kiyosaki and founder of Corporate Direct, a firm dedicated to supporting clients in protecting their assets, maintaining their privacy and advancing their financial goals. He has sold more than 850,000 books, including the invaluable Loopholes of Real Estate and Start Your Own Corporation.
Today, Garrett joins me to explain the ins and outs of asset protection. He discusses how the LLC protects your personal assets, why it’s important to set up an LLC from Day One, and how insurance serves as your first line of defense. Garrett offers insight around entity structure, speaking to the value of setting up a Wyoming holding company with charging order protection. Listen in to understand the concept of equity stripping to further protect your real estate assets—and learn to avoid personal liability by following the four corporate formalities!
Why it’s important to set up an LLC from Day One
How the LLC protects you as an individual
The role of insurance in providing asset protection
Why Garrett recommends an umbrella policy
How to set up the best possible entity structure
The value of a charging order protection
The 4 corporate formalities
The consequences of failing to follow corporate formalities
How Corporate Direct can retroactively fix compliance issues
The concept of equity stripping
How to notify your insurance company re: title transfer
Connect with Garrett
Call (800) 600-1760