TR_May_Jun_2022_lowres

INVESTMENT STRATEGY

ASSET PROTECTION

SPONSORED CONTENT

Design YourAsset Protection PlanWith Diligence YOUR ASSET PROTECTION PLAN IS TOO CRITICAL TO BE LEFT TO UNQUESTIONED AMATEURS.

by Garrett Sutton

ou design a lot of things in your life—the layout of your

no lawyer will even begin to compre- hend what they’ve put together for you, as a special client and part of the elite inner circle, it is also time to leave. You need to clearly understand the plan. And so does your spouse.

Y

structure appears fine, until it col - lapses under pressure. This can be the case with land trusts. Promoters tout them for their asset protection benefits, although they offer no such feature. To cover this inconvenient issue, they suggest that one or more land trusts be beneficially owned by one LLC. The structure appears as follows:

house, the flow of your business, the requirements for your children. These and many more scenarios are all elements of conscious design. Asset protection is no different. There is an architecture—a cohesive structure—to your properly planned legal safeguards. Sometimes you try to do it yourself, which could be fine. Many people are into DIY. And yet, with all the asset protection misin- formation on the internet, you have to be careful. Do those overpriced “gurus” really know what they’re doing? You won’t know until the plan they’ve designed holds. Or fails. Designing your asset protection plan does not improve by setting up more entities than you need. When your plan is solid with three LLCs, who benefits by adding five more LLCs to the mix? UNDERSTANDING IS KEY Your effective design should never be a matter of confusion to you. If you don’t understand what your asset protection planner is suggest- ing, demand a clear explanation. If your planner responds that most attorneys and no clients will ever understand their ‘brilliant’ structure, get up and walk out. That’s not how it works. Similarly, if you ask to get a second opinion from another lawyer about the plan and they claim that

DESIGN FLAWS Sometimes, like an old bridge, a plan design has fault lines. The

LAND TRUST #1

LAND TRUST #2

LAND TRUST #3

DUPLEX

TRIPLEX

STRIP MALL

XYZ, LLC OWNS ALL THREE LAND TRUSTS

60 | think realty magazine :: may – june 2022

Made with FlippingBook Online newsletter