The "Not You Container" for "Estate Protection" (Part 2 of 3)
J. Scott Talbert, JD, BA, PhD (ABD), BA ~ Trusts and LLCs
Failproof Financial Security Spawning Generational Wealth for Confident Peace of Mind (Tax-Advantaged Estate/Business Planning & Asset Protection 17+ Generations Deep) 1-Trust-Smart (1-878-787-6278)
[WARNING: The following material derives from 100% all-natural, real intelligence. No artificial ingredients.]
In Part 1 , I shared the example of “stuff”-focused folks I’ve encountered who are drawn to Wills for “Estate Planning,” so they don’t have to “let go” of their things until the very last moment.? Of course, they sacrifice Asset Protection, and Tax Mitigation, in so doing.
For a second example of weak so-called Asset Protection “solutions,” consider a group who has – at face value – “graduated” past the point of owning things in their own name (though not completely). ?These are the people who will own a Limited Liability Company (LLC).? They may think they’ve arrived, insisting they’re already all set.? After all, they paid a couple hundred dollars on some website, right? ?“There, now my business is in a LLC,” they proudly proclaim. ?Meanwhile, they’re oblivious to the shortcomings of their vending machine-type efforts at business formation and Asset Protection.?
Verily, the only fail-proof solution is to own nothing in your own name (i.e. - the "Not You Container").? To be sure, if you don’t have it – “they” can’t take it (whoever the “they,” in your case, may be).? Yet, if you ask said person who actually owns the LLC they use for business or to hold deed to their home, through the big grin on their face they fail at suppressing, they’ll forthrightly let you know THEY do.?
However, if the RULE is to own nothing, why would you then want to “own” a LLC?? After all, Limited Liability Company “Membership Interests” are your personal property.? You still own the “stuff,” by owning the entity that owns the stuff.? It’s just a 2 step process instead of 1 – big deal.? Replacing direct ownership with indirect ownership doesn’t obviate the risks of any ownership.? This is an Asset Protection ticking time bomb. They sought to protect them from their business... but never even considered protecting their business from them!
Even if they had, single-member LLCs can suffer the fate of defeated Charging Order Protection – nullifying the Asset Protection you thought you had obtained.? Moreover, even if it worked, in a favorable jurisdiction and with a multi-member structure, who wants to operate under a charging order?? Now what do you do??
I know, I’m jumping ahead to “Track” 2 of Your 3-Hour “LAW DEGREEE” – IMPLEMENTATION. ?That’s where I discuss the 3 strategies we specifically deploy in deference to these 3 critical RULES (like “own nothing in your own name”)… so we readily, reliably avoid the associated RISKS.? You can check out, for example, the CheatSheet for the COURSE called “Double-Trouble via Dual Ownership” for more on that. ?
See, you can only do what you know.?
When you know better, you can do better.?
When you do better, you can have better.
After visiting with person after person who had misplaced confidence in the supposed security of their LLC, I realized this is a massive problem.? They actually think their $299 turn-key formation fee, with accompanying 13-page operating agreement, formed a fortress around their financial future.
That’s why I created Your 3-Hour “LAW DEGREE.”?
A prime example is a Customer who showed me her operating agreement for some Wyoming LLC she had someone set up.? It was 12 pages long; or, I should say “12 pages short.”? I asked her where the other 40 pages were.? Needless to say, we flushed that and started over. After going through the Curriculum that comprises Your 3-Hour “LAW DEGREE,”?she now knew better... and simply couldn't not DO better.
See, I want you to get what you want.?
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I just want you to want the right thing.?
You do too, right?
If YOU want to know better so you can do better… and, ultimately, have better… my new WorkShop, Lunch Break “LAW DEGREE ,” is exactly what you want.? Based on Your 3-Hour “LAW DEGREE,” it’s the “3 Hours in 30 Minutes Crash Course” introduction to me and my empowering resources.?
Whether it’s (future) inheritance recipients, empty nesters, or conscientious (aging) retirees… my Customers’ outcomes are no accidents.? You don’t go from embarrassment surrounding "your" LLC, to full-fledged & impenetrable Asset Protection (indeed, "Estate Protection"), by chance.?
Acting on the right information is the only way to guarantee the action you take is truly a successful “accomplishment;” specifically, landing lasting financial security for your family tree and setting the stage for aggregating generational wealth through the ages - KNOWING your assets are fully protected.
“Know better” so you can fix yours, or get it right the first time...
… with the “3 Hours in 30 Minutes Crash Course”:
CLICK HERE to watch on-demand => Lunch Break “LAW DEGREE” (by LegacyLeaver & Generational Wealth Builder)
How about you??
Do you know anyone who owns their own LLC and has no idea their armor has such chinks?