Investors are, most of the time, overwhelmed by the attorneys selling sophisticated and costly legal protection document structures with “separate LLCs” for “separate assets”. Entities that identify as “nameless Firms” usually in Nevada. And “trust accounts” with attorneys as Trustees, very often resulting in “offshore preparations” and so on.
These structures not only frustrate property homeowners but in addition confuse their accountants and/or different lawyer types.
additionally, the set up of the structure usually costs tens of 1000’s and maintaining them can cost a hefty yearly charge.
I’ll always remember the legal professional speaker who offered me one of these concocted structures very eloquently, but when an audience member asked him: “Who would maintain these or file taxes?”
The legal professional’s reply was a traditional one worth repeating here: “Our enterprise is prospering and we are not looking for you to fret as a result of we won’t solely arrange all these entities for you, however we can even keep them and help you along with your yearly tax filings, as a result of nobody else would be capable of determine all this out!”
Haha, think about that? Solely “they” can hold you present from the operation and authorized components, to the accounting and tax standpoints.
Properly, if a construction isn’t simple to grasp, arrange, modify and unwind, then you’re on the mercy of the costly attorneys and you’re most definitely in huge hassle.
Let’s lower by the chase, and permit me to share with you ways I defend my private business actual property portfolio of over $50 Hundreds of thousands in fairness and the way I do the identical factor to guard the tens of millions in money capital being deployed in my Fund on behalf of my accredited buyers.
Out top objective is simplicity so let’s start with simplicity. We name it the Ultimate Asset protection Structure as a result of it’s the strongest but the only and least costly arrange. It has never been challenged in any courtroom because it contains three elements with all bases covered:
- A Law Suit Deterrent
- An Asset Protection
- An Asset Preservation
