238: Creative Asset Protection for Savvy Investors with Scott Royal Smith
Release Date: 02/20/2024
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Your WakeUp Call begins when you start to challenge conventional thinking. When you empower yourself to break free from the daily grind. When you choose to design your own lifestyle and economy.
Paul Thompson taps the mind of asset protection expert Scott Royal Smith in this wide-ranging discussion exploring creative strategies to shield your wealth. Learn the crucial steps these pros say you must take to fortify your investments against legal attacks and economic uncertainty. From anonymous LLCs to ironclad trusts, they reveal the keys to bulletproofing your empire.
Key Takeaways:
- Use an asset holding company structure to create separation between operating companies and owned assets, limiting liability
- Form anonymous LLCs and land/private property trusts in states like Wyoming and Texas with strong charging order protections to obscure ownership
- Compartmentalize assets across limited liability entities to prevent legal attacks against one asset from reaching others
- Link anonymously-owned trusts to a law firm to secure details under attorney-client privilege for maximum asset protection
- Focus on simplicity in business by offering one clear service and spending time on fulfilling tasks instead of unenjoyable duties
- Seek to find purpose beyond money for true life fulfillment, but leverage financial education and coaching to enable personal growth
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About Today’s Guest:
Scott Smith is a new breed of real estate attorney who brings a fresh perspective to asset protection strategies. As the founder of Royal Legal Solutions, Scott has pioneered an approach to securing real estate investments and other assets that breaks from tradition.
With his litigation background, Scott intimately understands the realities of lawsuits and how to effectively shield yourself. He leverages this experience to offer simplified solutions for the complex legal structures typically used. Scott has a great sense of humor that shines through as he demystifies intricate asset protection concepts into easy-to-grasp recommendations.
So whether you own some income properties or are looking to build a real estate empire, Scott has innovative, affordable strategies to protect your hard-earned assets from legal attacks and economic uncertainty. His fresh thinking provides legal protection with less hassle.