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Ep. 7: Basics of Asset Protection
Manage episode 355388741 series 3428945
コンテンツは Ted Gudorf, Danny Gudorf, Gudorf Law Group, Gudorf Financial Group, Ted Gudorf, Danny Gudorf, Gudorf Law Group, and Gudorf Financial Group によって提供されます。エピソード、グラフィック、ポッドキャストの説明を含むすべてのポッドキャスト コンテンツは、Ted Gudorf, Danny Gudorf, Gudorf Law Group, Gudorf Financial Group, Ted Gudorf, Danny Gudorf, Gudorf Law Group, and Gudorf Financial Group またはそのポッドキャスト プラットフォーム パートナーによって直接アップロードされ、提供されます。誰かがあなたの著作物をあなたの許可なく使用していると思われる場合は、ここで概説されているプロセスに従うことができますhttps://ja.player.fm/legal。
In this episode of Repair the Roof, Attorney Ted Gudorf discusses four basic yet essential steps to protecting your assets.
It is becoming increasingly popular for estate planning clients to want to protect their assets from potential creditor claims, whether from lawsuits or other creditor-type actions including bankruptcy and nursing homes.
How lawyers advertise today is drastically different from how they advertised half a century ago. In 1977, the United States Supreme Court determined that lawyers should have the right to advertise—commercial speech—by virtue of the First Amendment. Since that time, the number of lawsuits filed in this country has significantly increased.
All of this has led to the so-called “lawsuit crisis.” Asset protection has become a popular strategy as a result.
Listen in as Ted explains what “asset protection” is and what it is not, the importance of getting clear on what a debtor/creditor can and cannot do in your particular jurisdiction, and the four steps you need to take to protect your hard-earned nest egg not just for your family today but for the next generation.
Ted also offers advice on successfully utilizing an LLC for asset protection, and how to decide on a legacy trust, whether domestic or international.
Key Topics:
- The origin of the so-called “lawsuit crisis” (0:54)
- Defining “asset protection” (5:22)
- Debtor/creditor law as a function of state law (8:00)
- Step #1: Understand your state law (12:20)
- Step #2: Understand your insurance policies (16:56)
- Step #3: Create a Limited Liability Company (LLC) (23:49)
- Step #4: Put your assets into a legacy trust (29:32)
- A recap of the four steps (38:52)
Resources:
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