Asset Protection - What reasources can you recomend to research?

[Ryan Planchon]

Found lots of posts about "Should I create and LLC? Yes! No! Get Insurance! Go watch dancing with the stars! But where can you find materials for asset protection research?

1. 1. I read this book: Your Best Business Entity For Real Estate Investing: LLC, S Corp, C Corp, Partnership, or DBA? By Michael Lantrip. It kinda helped but just really describes each entity but now how to meat and potatoes.

1. 2. Called my local estate lawyer. How much to start and LLC? $2500. Ok Thanks got to go! There goes all my cash flow.

1. 3. Nevada Corporate Headquarters. Basic set up is LLC in Nevada. Register LLC in State doing business. Each property in a Real Estate Privacy Trust with the LLC as the beneficiary. Can have up to 75 trusts in each LLC. Where can I find information if this is Effective? Price worth the protection? Is my accountant going to freak out? Ongoing costs that I am not being told? What surprises are there?

1. 4. Royal Legal Solutions out of TX. Watched the basic video explaining the set up. Similar to above but using a Series LLC as Parent/Child. Attended a webinar that was the same video I watched previously so didn't get much more out of it. Made appointment to find out the next appointment is $150 to set up a 1-hour consultation to put a plan together. You get the plan when you are done if you want to go do it yourself. Over all I think this would run $5000-7000 for me since I have my basic estate plan in place. I think there is a $49 monthly charge for something they call family package? Same questions: Where can I find information if this is safe? Effective? Price worth the protection? Is my accountant going to freak out? Ongoing costs that I am not being told? What surprises are there?

1. 5.  Watched this Video with Matt Faircloth: https://www.youtube.com/watch?v=edHaGYXhH1I&t=3s
   1. This was informative and is kind of where I am at right now with an umbrella policy. Is it enough?

1. 6.  Haven’t talked to Cooperate Direct yet that advertises on the Rich Dad Podcast. Experiences?

1. 7.  I have done lots of googling but don’t really end up with much?

My biggest question is: Where to find materials to read on asset protection? Is there a way to do the above yourself? Any books you can recommend or another website?

Thanks Forum!

[Whitney Hutten]

@Ryan Planchon I feel your pain! Check out KKOS (Mark Kohler).  They are experienced and reasonably priced.  I'm not a fan of the subscription model for legal/accounting for those just starting out.  As you experienced, it can hit your cashflow hard!