Failed Asset Protection: A Case Study Provided by Legally Mine

[Dustin Ruhl]

At the 2017 Think Realty National Conference & Expo held in Balitmore, Maryland on June 24, 2017, Steve Broadley from Legally Mine asset protection services addressed the need for the right asset protection to the audience of real estate investors and private lenders. During his speech, Broadley shared the key point that having the wrong type of asset protection can be worse than not having protection at all. Lawsuits can happen to anyone, but they are more likely to happen to people that have money and/or assets. Therefore, you want to be prepared for any type of potential lawsuits to ensure that your assets will be well safe-guarded and your hard-earned money and investment capital will not be taken away from you. Broadley shared a story of a successful doctor that ultimately lost his fortune and his lifestyle due to a family that sued him for his secretary’s driving accident that caused the death of two teenaged sisters. Broadley emphasized that this doctor did not have adequate asset protection to cover him and you don’t want to end up like him so it is in your best interest to speak with an asset protection specialist as soon as possible to make sure that you will be legally protected from worst case potential lawsuit scenarios.

Key Takeaways:

• One day, he sent his secretary out for sandwiches for the office. She ran a red light and killed two teenaged sisters.
• After addressing the logistics of establishing asset protection for investors, business owners, and entrepreneurs, Broadley revealed some shocking details about failing to adequately and appropriately
• As Broadley observed, lawsuits are, at the heart, all about money. “If Dr. Adams had owned no assets, the insurance money would have sufficed,” he said.

"You have two options available to you when it comes to lawsuits: forget them and hope the snake never strikes"

Read more: https://thinkrealty.com/legally-mine-asset-protection/