If you find this video valuable, please consider sharing it with someone who could benefit from it. Your support helps our channel grow and motivates Ken to keep making videos like these. Thank you
Hello sir. My name siya, from India. I need your help. Lot of debt in my life. Now I am struggling in Dubai. I need a financial help. Please believe me sir 🙏🙏🙏🙏🙏🙏 trust me
So much knowledge! Absolutely free! I was never taught anything about money, I am praying and working to change that. I am 56 no retirement no savings because I made a lot of mistakes when I started investing, trying to correct that now. Already have a few thousand$ saved up to invest for long term. I would like to know what advice you could give to start my investing journey. Listening to you gives me inspiration and wisdom. Thank you so much!
Just buy low sell high. Stick with a good company by either not selling when it’s going lower and/or buying more at that time. Almost always the good well managed companies will come back strong at some point. The other is to get yourself a financial-advisor that can provide you with entry and exit points on the shares/ETF you focus on.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
I Hit 110k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started last month 2024. Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject. thanks to Brooke Grace Miller for helping me achieve this
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states
I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills
The rich are money-minded; that's a lesson I've grasped from the very beginning. My desire to build wealth has always been strong. I’ve set aside $120K since 2020, and I’m eager to invest it in the stock market to grow my financial future. I’d love to hear any recommendations you have.
I think the safest strategy is to diversify investments. But if you need proper advice, consider speaking with a financial expertise. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.
Many folks overlook the importance of advisors until their emotions cause them problems. I recall a few summers ago, after my lengthy divorce, I needed support to keep my business going. I searched for licensed advisors and found someone extremely qualified. She helped grow my reserve from $175K to $550K, despite inflation.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Judith Lynn Staufer” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look her up.
Thanks, I just googled her full name and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a call.
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.
The professionals presently control the market since they not only have the essential business strategy but also have access to inside information that the general public is not aware of.
I agree, having a brokerage advisor for investing is genius! Amidst the financial crisis in 2008, I was really having investing nightmare prior touching base with a advisor. In a nutshell, i've accrued over $2m with the help of my advisor from an initial $350k investment.
Credits goes to "Mary Elizabeth Fugelsang" one of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.
I agree with you!! Money actually grow on trees but only on trees that was planted by you!! These tress are referred to as investments. How you diversify your investment portfolio matters
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Brooke Miller.
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states
I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills
Especially when considering the amount of fraud perpetrated in these sorts of claims, as well as the parasitic nature of the sorts of attorneys that enjoy a high income at the expense of insurance customers. Protect yourself in all ways at all times. The law is seldom your friend.
Observing the market’s fluctuations highlights how fast things can shift. In this environment, strategic and informed trading isn’t optional-it’s essential. Caution is just as important as ambition. This commitment to ongoing learning is truly motivating. I’ve focused heavily on active trading, which offers a safer approach to navigating market volatility. Through this strategy, I’ve grown my nest egg from $87k to $246k. I’m especially thankful for Aldona Šabanienė’s tactics and strategies, which have been instrumental in my success.
The process of trading can be complicated when you have limited knowledge. However, with the right strategy and setups, you can be successful. That's the whole point of investing.
I wish someone would address these 3 questions: 1. How many LLCs would you get based on number of doors/SFHs or based on equity value per LLC. 2. Costs to manage and do taxes on all those LLCs. 3. How to move your title/loan to your LLC without triggering your bank to call your loan bc your loan terms/owner changed. Maybe a good follow up video?
1. it is better to put one property in one llc, this way, when one gets lawsuit, others are not in danger. 2. you can setup series llc, it is cheaper to set up and you only have to file one tax return for all the properties. 3. you can contact your mortgage company/ bank, explain to them that it is better protect your assets. They know it is, so most of the time they approve it. however, I could be wrong, it is better for you to do more research. Hopefully, an real estate lawyer can help answer your questions better!
@@HildaRealtor this is actually a really good answer, however i would make two tweaks (i'm a lawyer). for 2., i would do a series LLC as well, but have each series be a cap (series 1 is worth $250k, series 2 is worth $250k, etc.). that way all of your money isn't tied up into one series. and for 3., you can put the homes in a trust naming you as the beneficiary.
Wow, I'm impressed with this video! Talk about Cryptonica in your next one, I've been providing liquidity for several months and everything is great. I'm interested in your opinion.
Damn, so do you think it's best for us to focus on index funds or individual stocks? I want to redistribute my 60k portfolio and I preferably want the asset class with the best return on investment.
Index funds are a safer bet to start. They offer good diversification. But individual stocks could make you a fortune if you know how to go about it. Some people make upper six figures yearly from investing alone. But it's always a good idea to work with a financial advisor. It raises your chance of profit by a lot.
Sometimes I'm surprised most people don't even know they can do that. I've been making at least 200k every year from my investments by working with an FA. When you realise it, it feels like a life hack.
Regarding personal property, I think looking at a personal property trust really fits in too. Anonymity is key, beneficial interest would obviously be an LLC.
Last year I had these 3 neighbors that my wife and i drove to 8 stores to get the cheapest groceries.Then it hit me that I only have 2 million liability and the 24 year old could cost 5 million to care for her for 60 years.I also remembered my scammer aunt that was in a minor accident in my uncles car and she made 15 claims that went on for 2 years. I said no more rides and saved $ 1,500. a year as riders can't pay for anything or you become an uninsured taxi.
Major indexes booked their worst yearly performance since 2008 thanks to drivers like the recession, war, hiked interest rate and inflation which so far doesn’t seem to be easing off, so I’m left wondering what 2024 has in store for us investors, I’ve been sitting on over $745K equity from a home sale and I’m not sure where to go from here, is it a good time to buy or do I wait?
Starting early is simply the best way of getting ahead to build wealth, investing remains a priority. I learned from my last year's experience, I am able to build a suitable life because I invested early ahead this time.
I love the insight. Professionals could make a really big difference in investing, and I think everyone should have one. There are aspects of market trend that is difficult for the untrained eyes to see. I have made more than 350% through my estateplanner(fa) by alternative investing. The portfolio comes with perks as well.
Agreed, this takes your name off the assets, but you still have beneficial ownership interest in the LLCs. By owning "NOTHING," you could not own any beneficial interest in any entity. In part two of this video, will you be walking us through exactly how we achieve owning "NOTHING?"
Query: "Unicorporated." (The ONLY way to "own nothing" with true anonymity... is to use Trusts, vs. corporate entities, in the age of the internet, etc.) And that is precisely HOW every dynasty known was built, in the last several hundred years.
I’d be retiring or working less in 5 years, and curious to know how best people split their pay, how much of it goes into savings, spendings or investments, I earn around $250k per year but nothing to show for it yet.
money advice is subjective, what works for you may not work for me. I would suggest getting rid of any unnecessary purchases, especially things that cost you monthly, or better still consider financial advisory
Agreed, I'm quite lucky exposed to finance at early age, started full time job at 19, purchased first home 28. Going forward, got laid off 36 amid covid-outbreak and at once consulted an advisor. As of today, I'm just about 10% short of $1m after significant investments.
@@Charlesman_T retired in my 40s after inheriting money from a childless relative, traveled overseas and found a girl almost my age, happily married but only issue is how to grow and preserve our wealth... think your advisor can be of help?
Can't divulge much here, I take guidance from a Pennsylvania-based advisor 'Karen Lynne Chess' and most likely, the internet is where to find her basic info, simply do your research.
such an eye-opener! curiously inputted Karen Lynne Chess on the web, and at once spotted her consulting page, she seems highly professional from her resumé
If someone has a judgement against them, and they've put their assets in an LLC where they are the sole member, the plaintiff may not be able to go after the assets in the LLC directly. But what stops them from going after the members ownership interest in the LLC?
Had the same question. From what i understand they can pursue your interest in the LLC by foreclosure or demand. Not sure this video explained how the rich own nothing. You do own something. I’d be curious if they can explain how to shield those legal interests in an LLC or land trust
Maybe the point is to hide it from public record so that the plaintiffs counsel can’t find it and won’t bother due to lack of perceived value ? But in a court case during discovery i assume you would be mandated to submit a personal financial statement subject to perjury
The system is failing as a result of both government and federal policy. In the next days, the banking crisis would have to be epic and gigantic for the FED to decide not to raise interest rates. This won't happen; an increase and a crash are coming. There will be more negative portfolios this 2nd half of 2024 with markets tumbling, soaring inflation, and banks going out of business. My concern is how can the rapid interest-rate hike be of favor to a value investor, or is it better avoiding stocks for a while?
Just ''buy the dip'' man. In the long term it will payoff. High interest rates usually mean lower stock prices, however investors should be cautious of the bull run, its best you connect with a well-qualified adviser to meet your growth goals and avoid blunder
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
I definitely share your sentiment about these firms. Finding financial advisors like Stacy Lynn Staples who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Why not have the LLC buy the properties to save transfer fees AND never show a public record of ownership with the individual’s name? Skip buying in your own name? Also, which states disallow judgment renewals?
I have heard there are issues getting a mortgage and other things as an LLC. So I assume people buy it in there name. And the bank resells your loans 100s of times so you quietly change the property over to the LLC. They won't notice it's only an issue if you tell the bank they get all weird about it.
The rising interest rate can surely control inflation, but won't prevent erosion of the eroding purchasing power of the US dollar. I have learnt my lesson this time. The banks can't be making money off my money, while inflation eats into it. I have set aside 650k to invest in the stock market now, since that keeps up with inflation, but I don't know how to get started.
Financial consultants can help by recommending investments that outpace inflation, such as real estate or certain stocks. A client of mine followed this strategy and saw their savings grow by 15_% in just two years, effectively countering inflation.
Zachery M Demers is the licensed FA I work with, I can't speak much about him you should make a search with his name, you'd find the necessary details to schedule an appointment.
If youre only forming LLCs for the purpose of holding your assets, any good lawyer can get those entities disregarded in court. Its called piercing the corporate veil. 2nd, for the price of fili g your required annual taxes on each LLC, you could probably buy enough insurance to cover your original loss.
I have a friend who is an immigrant from Asia. He owns a multi million dollar home. He has several family members on his deed so his technical ownership is fairly small.
In Europe the car insurance covers personal injury no limits, it’s illegal to drive without cover. Average cost $500 per annum same with house insurance
Wow alot of legal and insurance advice was offered without any disclaimers. This is definitely an oversimplification of both the legal and insurance procress. The amount of liabilities ken and this gentlemen took on in one video is stunning.
@@gillean2 Nope. That's why it's called a Limited liability. When I worked at a car dealership.......the owners had their house under the ownership of the corporation or LLC. Their vehicles were all dealership owned vehicles. An LLC is an entirely separate legal entity from its owners.
I turned 40 today. I meet with 2 financial advisors earlier this year who estimated my net worth between 1.6 and 1.8 mil. I live in the middle of nowhere, work a bluecolor job in a very poor state, have an associates degree from a votec school. Anyone can do what I did. Most of my net worth is my 401k. The next chunk is my paid off house. I haven't had debt in years and live well below my means. I dont lose sleep over the housing market or stock market swinging...
BOOM! This is the way. Well done ma'am, seriously. If it doesn’t make sense to you, never invest in it. And the number one investment of all time (according to Buffett) is you!
Sounds like half a story. How do you break down 1.8 mil just by working a normal job at 40? Must be through investments, or untold benefits you received. 1.8 mil not something ‘anyone can do’ with a regular job and no particular benefits to start off with.
I work in IT as freelancer and earn well today, but have been salaried before. I know for fact that it is not possible except when going independent or making risky investments.
Love this content. We always encourage people to be well insured. People who say "im self insured" are just saying, "im going withput insurance." It just doesn't make sense.
.Thank you for this But, the creditors can still seize shares, parts, or interest of the judgement debtor in the LLC. And the creditors will own the LLC to the extend of their debt or part of it depending on the value of the debtor's equity in the LLC. Normally, after the final judgement, the judgement debtor will be interrogated under oath. This is in addition to the creditors private investigation regarding the existence of the legally seizable assets, their location, and market value.before pursuing further enforcement proceedings.
Unless you're in CA, an LLC costs about $50-$100 to create in 5 minutes, and $10-$50 annually to maintain. In what case would you not want a unique LLC for each asset?
In The Case of Rental Properties Series LLC is good. Create Different LLC required lots of Paperworks and cost high. Thanks Ken , i Shared your video in my network.👍
This is bizarre. What rich person doesn't have an umbrella personal liability policy? Did this guy drive his car through a shopping mall or something? T-bone hit a bus?
Yup. Most attorneys will just go after an easy and quick payout on the insurance and move on to the next easy payout. It is possible that one may decide to go for more but even then they can only put a lien on your property and can not collect if you don’t sell. Attorneys aren’t that patient
the whole videos feels like "this person ruined a bunch of people's life and got his assets taken. How you can ruin other people's lives and get out without much hassle "
Great video!. I'm looking to start investing in stocks or Forex Market with $60k this quarter. How do i go about it? Preferably want the route with the best return in investment. Thanks!
@@paulbrungardt9823 I think if it's a revocable trust it's not protected. I pulled this from the internet: "While trusts can protect assets from lawsuits, not every type of trust offers lawsuit protection. A revocable trust, such as a living trust, will not fill that bill. This is because creditors can step into our shoes and invoke your power of revocation. That is not the case with a properly drafted irrevocable trust." You should ask your attorney
I love your videos and advice that said, nobody is rich who lives in Mesa AZ. You can have a billion dollars but if your living in mesa you aint rich. Your infinite money glitch video is one of my favorites.
Some incorrect information here. Placing properties or assets in an LLC/corp does not protect the individual if the individual who owns the LLC/corp is subject to personal liability. There are other means to do that, but that’s not one of them
How do you get your asset back in your name if you wanted it out of LLC ? Do you have to buy it or transfer it? Seems like they would get you for something like that?
there's a book called whispers of manifestation on borlest , and it talks about how using some secret tehniques you can attract almost everything in life it's not some bullshit law of attraction, it's the real deal
Interesting, I just stumbled across this video. I happen to have a LLC business so I'm familiar with the costs of registration, aaccountant, legal fees, etc AND I have a personal liability umbrella policy. After watching this video and reading many comments, I think the best / cost-effective strategy for me is to get a much bigger umbrella!
I couldn't get through this video. Here's the reality of life in the United States. The system is specifically set up principally to make money off of people's MISTAKES. This video underscores the importance of that issue from an insurance perspective. There are many other examples. If you make a mistake, ONE mistake, it has the potential to destroy you. You want to go have a few drinks with your friends at a happy hour that you might do only a few times a year? If you drive after drinking and get caught, that mistake will cost you thousands of dollars. Move through life being under-insured then make a mistake where that insurance is needed? You can go broke because you will be legally eaten alive in the court system. Marry the wrong person then get divorced? You will lose half your assets. Do you smoke? Are you addicted? You will eventually get cancer of some sort. Now you will be riddled with hospital bills, tests, and expensive medications leading ultimately to bankruptcy and/or death. The list goes on and on. I don't subscribe to living in paranoia, but making correctly defined decisions is really the key to living a sustainable and fulfilling life.
Insurance insurance insurance -Good lawyers and prenup. OJ had whole life insurance, can’t be touched even through it pays a lower dividend, and you can borrow off policy.
@@rodschmidt8952 in a liberally run government mistakes do not have consequences. In parts of California today, stealing, for example, is not being punished.
@@rodschmidt8952 The principle point being made is that the United States has built a system that preys on social mistakes having been made. It's not that there are not typically consequences to mistakes, it's the parasitic impact that has been socially and economically connected to said mistakes. Such a system has a tendency to alienate people from their government and each other.
You are correct. I was hit in an accident and the other party admitted fault (in Texas). You are forced into a choice, take the insurance payment or sue the party. You cannot do both.
The bank gave me personally the mortgage and won’t allow a transfer to an LLC who in essence is responsible for the mortgage. How do I get around that?
Yeah....they didn't get too deep on this video. Not a lawyer......but it seems you would have to own the assets "free & clear" before putting it in a LLC. I can't imagine any mortgage provider willing to let YOU shield something they technically still have ownership interest in
What happens when you have a loan on the property and the bank calls the loan upon transfer of title from your name to the LLC? How do you get around it?
How does that work with you owning the home and it being your personal residence and getting homeowner tax exemptions? If you transfer it into and LLC you'd have to pay full tax's?
Insurance and veil are 2 different things BUT I agree that insurance is ALWAYS your first line of defense. And if there are no other assets in the LLC then yes, not having insuyrance can open you up to a pierce argument
Putting well-earned money into the stock market can be over emphasized for first-time investors, unlike a bank where interest is sure thing! Well, basically times are uncertain, the market is out of control, and banks are gradually failing. I am working on a ballpark estimate of $5M for retirement, and I have a good 6-figure loaded up for this, could there be any opportunity for a boomer like me? I'm nearly 60.
Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life because I invested early ahead this time .
I totally agree; I am 66 years old, recently retired, with approximately $1.2 million in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, I didn't do all this alone, but with the help of a financial advisor. Having one is currently the best way to trade in the stock market, especially for people nearing retirement.
Is there any chance you could recommend who you work with? I've wanted to make this switch for a very long time now, but I've been very hesitant about. I'll appreciate any recommendation.
Couple of things: if you’re a simple person with a couple of LLC’s holding real estate or whatever…you’re still exposed. Any decent attorney will attempt and probably succeed in jumping the “corporate vail”. It will be obvious as to what you’re doing. Also, if you already have millions in investments and own nothing else (such as myself) then “moving” the investments to an LLC creates all sorts of tax issues. Having LLC’s is not a guaranteed solution for liability exposure. It might help, but if you run through a bus full of children you’re screwed.
Wow Owen great video, so easy to comprehend, and straight forward to the point thank you. I am In my 30s and trying to invest at least $55k per year. Your channel has been a motivation for me.
Who or what owns the LLCs? I’m in Australia so probably different but similar legal context. We set up the LLC (Pty Ltd) to be owned by a family trust of which we are trustees and beneficiaries. Not sure it serves the same purpose but protects us personally from any liability arising within the company.
Hi Ken, thank you for the information. So what happens to the property tax if you transfer that property into an LLC? I have a property that I got with a Prop 13 and it has very minimal property tax on it for the area? Will the county or state reassess the property and raise the property tax?
Pretty interesting you spoke a lot about insurance without saying you’re not an insurance agent and should not consult on insurance issues nor is this a consultation about your coverage amounts.
First, put your property into a land trust. One property to one land trust. The land trust's trustee is the property's legal owner, who is recorded as the owner at the courthouse. The land trust is now the owner. The trust agreement is not recorded, so the ownership will only show your chosen trustee as the property owner. The trustee has no liability as a nominee trustee. Unless the trustee is ordered by a judge to reveal who owns the beneficial interest in the trust, there is no one to sue. This will cost the attorney upfront expenses and too much doubt in collecting on a judgment.
Where can I buy the book. The link said error. I was in a crosswalk and a vehicle hit me and I was seriously injured. After going through the legal aspect I see that I need to protect my own assets. Because I have a 16 year daughter who is going to drive soon and seeing the legal aspect I need LLCs and getting an umbrella policy soon. So I need the book to see the other protections. Thank you.
This is an overly simplification as different states have different requirements and different protections. For example, in Florida you have homestead, tenants by the entireties, single member/ multiple members LLC differences re charging liens, transfer taxes by moving around properties, especially encumbered. So it is critical to discuss with a knowledgeable advisor in Florida.
LLCs don't even have these protections without a lot of caveats in my state. It's all land trusts is how to do it. But I am guessing every state is different.
If you find this video valuable, please consider sharing it with someone who could benefit from it.
Your support helps our channel grow and motivates Ken to keep making videos like these. Thank you
Hello sir. My name siya, from India. I need your help. Lot of debt in my life. Now I am struggling in Dubai. I need a financial help. Please believe me sir 🙏🙏🙏🙏🙏🙏 trust me
Please help me sir
Please help me sir 🙏
Sir is it my fault to be born poor?
Thank you.
So much knowledge! Absolutely free! I was never taught anything about money, I am praying and working to change that. I am 56 no retirement no savings because I made a lot of mistakes when I started investing, trying to correct that now. Already have a few thousand$ saved up to invest for long term. I would like to know what advice you could give to start my investing journey. Listening to you gives me inspiration and wisdom. Thank you so much!
Just buy low sell high. Stick with a good company by either not selling when it’s going lower and/or buying more at that time. Almost always the good well managed companies will come back strong at some point. The other is to get yourself a financial-advisor that can provide you with entry and exit points on the shares/ETF you focus on.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
@@mikegarvey17Could you possibly recommend a CFA you've consulted with?
Her name is “Izella Annette Anderson” can't divulge much. Most likely, the internet should have her basic info, you can research if you like
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
I Hit 110k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started last month 2024. Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject. thanks to Brooke Grace Miller for helping me achieve this
I'm surprised that you just mentioned and recommended Brooke Miller, I met her at a conference in 2018 and we have been working together ever since.
The very first time we tried, we invested $1000 and after a week, we received $5500. That really helped us a lot to pay up our bills.
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states
I'm new at this, please how can I reach her?
I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills
The rich are money-minded; that's a lesson I've grasped from the very beginning. My desire to build wealth has always been strong. I’ve set aside $120K since 2020, and I’m eager to invest it in the stock market to grow my financial future. I’d love to hear any recommendations you have.
I think the safest strategy is to diversify investments. But if you need proper advice, consider speaking with a financial expertise. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.
Many folks overlook the importance of advisors until their emotions cause them problems. I recall a few summers ago, after my lengthy divorce, I needed support to keep my business going. I searched for licensed advisors and found someone extremely qualified. She helped grow my reserve from $175K to $550K, despite inflation.
That's impressive! I could really use the expertise of this manager for my dwindling portfolio. Who’s the professional guiding you?
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Judith Lynn Staufer” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look her up.
Thanks, I just googled her full name and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a call.
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.
The professionals presently control the market since they not only have the essential business strategy but also have access to inside information that the general public is not aware of.
I agree, having a brokerage advisor for investing is genius! Amidst the financial crisis in 2008, I was really having investing nightmare prior touching base with a advisor. In a nutshell, i've accrued over $2m with the help of my advisor from an initial $350k investment.
impressive gains! how can I get your advisor please, if you dont mind me asking? I could really use a help as of now
Credits goes to "Mary Elizabeth Fugelsang" one of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.
I just googled her now and I'm really impressed with her credentials. I reached out to her since I need all the assistance I can get.
The BIGGEST LIE You've Been Told About Money is that it doesn't grow on TREES!! 😆
I agree with you!! Money actually grow on trees but only on trees that was planted by you!! These tress are referred to as investments. How you diversify your investment portfolio matters
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Brooke Miller.
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states
I'm surprised that you just mentioned and recommended Brooke Miller, I met her at a conference in 2018 and we have been working together ever since.
The very first time we tried, we invested $1000 and after a week, we received $5500. That really helped us a lot to pay up our bills.
I'm new at this, please how can I reach her?
I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills
Asset Protection is not expensive. Getting sued and losing assets is VERY EXPENSIVE!
Especially when considering the amount of fraud perpetrated in these sorts of claims, as well as the parasitic nature of the sorts of attorneys that enjoy a high income at the expense of insurance customers. Protect yourself in all ways at all times. The law is seldom your friend.
doubled up after pandemics try to afford
There's expensive and expensi-ver
Observing the market’s fluctuations highlights how fast things can shift. In this environment, strategic and informed trading isn’t optional-it’s essential. Caution is just as important as ambition. This commitment to ongoing learning is truly motivating. I’ve focused heavily on active trading, which offers a safer approach to navigating market volatility. Through this strategy, I’ve grown my nest egg from $87k to $246k. I’m especially thankful for Aldona Šabanienė’s tactics and strategies, which have been instrumental in my success.
She mostly interacts on Telegrams, using the user-name.
@AldonaSabaniene.
The market has gone berserk! whether you're a newbie or a veteran trader, everyone needs a sort of coach at some point to thrive forward.
Nice info, i appreciate your concern this will help a lot especially to the young investors who have no or lesser knowledge on how the market works.
The process of trading can be complicated when you have limited knowledge. However, with the right strategy and setups, you can be successful. That's the whole point of investing.
The fact that nobody talks about the book whispers of manifestation on borlest speaks volumes about how people are stuck in a trance
gkys
@@artbyddp every video about money is full of these bots every time so annoying
@Sebaa1337 On some, "we've been trying to reach you about your cars extended warranty."
I wish someone would address these 3 questions:
1. How many LLCs would you get based on number of doors/SFHs or based on equity value per LLC.
2. Costs to manage and do taxes on all those LLCs.
3. How to move your title/loan to your LLC without triggering your bank to call your loan bc your loan terms/owner changed.
Maybe a good follow up video?
SAME. Not yet knowing answers to those 3 questions is what’s stopping me from moving assets to an LLC
Google it
1. it is better to put one property in one llc, this way, when one gets lawsuit, others are not in danger.
2. you can setup series llc, it is cheaper to set up and you only have to file one tax return for all the properties.
3. you can contact your mortgage company/ bank, explain to them that it is better protect your assets. They know it is, so most of the time they approve it.
however, I could be wrong, it is better for you to do more research.
Hopefully, an real estate lawyer can help answer your questions better!
@@HildaRealtor this is actually a really good answer, however i would make two tweaks (i'm a lawyer). for 2., i would do a series LLC as well, but have each series be a cap (series 1 is worth $250k, series 2 is worth $250k, etc.). that way all of your money isn't tied up into one series. and for 3., you can put the homes in a trust naming you as the beneficiary.
How about putting your assets in another family member's name?
Ahh, an infomercial selling a book. I use to get suckered into... I mean, watch many of those back in the day.❤❤❤
Every place is nice if you have money. No place is nice if you don't.
Wow, I'm impressed with this video! Talk about Cryptonica in your next one, I've been providing liquidity for several months and everything is great. I'm interested in your opinion.
Damn, so do you think it's best for us to focus on index funds or individual stocks? I want to redistribute my 60k portfolio and I preferably want the asset class with the best return on investment.
Index funds are a safer bet to start. They offer good diversification. But individual stocks could make you a fortune if you know how to go about it. Some people make upper six figures yearly from investing alone. But it's always a good idea to work with a financial advisor. It raises your chance of profit by a lot.
Sometimes I'm surprised most people don't even know they can do that. I've been making at least 200k every year from my investments by working with an FA. When you realise it, it feels like a life hack.
Jessica Lee Horst is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.
@@raymond-i2v😂😂😂😂😂😂😂
@SarahJeffy😅😅😅😅😅😅😅
Regarding personal property, I think looking at a personal property trust really fits in too. Anonymity is key, beneficial interest would obviously be an LLC.
Last year I had these 3 neighbors that my wife and i drove to 8 stores to get the cheapest groceries.Then it hit me that I only have 2 million liability and the 24 year old could cost 5 million to care for her for 60 years.I also remembered my scammer aunt that was in a minor accident in my uncles car and she made 15 claims that went on for 2 years. I said no more rides and saved $ 1,500. a year as riders can't pay for anything or you become an uninsured taxi.
Major indexes booked their worst yearly performance since 2008 thanks to drivers like the recession, war, hiked interest rate and inflation which so far doesn’t seem to be easing off, so I’m left wondering what 2024 has in store for us investors, I’ve been sitting on over $745K equity from a home sale and I’m not sure where to go from here, is it a good time to buy or do I wait?
Starting early is simply the best way of getting ahead to build wealth, investing remains a priority. I learned from my last year's experience, I am able to build a suitable life because I invested early ahead this time.
I love the insight. Professionals could make a really big difference in investing, and I think everyone should have one. There are aspects of market trend that is difficult for the untrained eyes to see. I have made more than 350% through my estateplanner(fa) by alternative investing. The portfolio comes with perks as well.
Mind if I ask you to recommend this particular manager?
Her name is Rebecca Noblett Roberts. I can't divulge much. Most likely, the internet should have her basic info, you can research if you like
I'm pleased with the advisor's prompt and knowledgeable assistance. Her professionalism instills confidence. Looking forward to further discussions.
Agreed, this takes your name off the assets, but you still have beneficial ownership interest in the LLCs. By owning "NOTHING," you could not own any beneficial interest in any entity. In part two of this video, will you be walking us through exactly how we achieve owning "NOTHING?"
Query: "Unicorporated." (The ONLY way to "own nothing" with true anonymity... is to use Trusts, vs. corporate entities, in the age of the internet, etc.) And that is precisely HOW every dynasty known was built, in the last several hundred years.
Be careful when transferring the title as this may trigger the due on sale clause.
I’d be retiring or working less in 5 years, and curious to know how best people split their pay, how much of it goes into savings, spendings or investments, I earn around $250k per year but nothing to show for it yet.
money advice is subjective, what works for you may not work for me. I would suggest getting rid of any unnecessary purchases, especially things that cost you monthly, or better still consider financial advisory
Agreed, I'm quite lucky exposed to finance at early age, started full time job at 19, purchased first home 28. Going forward, got laid off 36 amid covid-outbreak and at once consulted an advisor. As of today, I'm just about 10% short of $1m after significant investments.
@@Charlesman_T retired in my 40s after inheriting money from a childless relative, traveled overseas and found a girl almost my age, happily married but only issue is how to grow and preserve our wealth... think your advisor can be of help?
Can't divulge much here, I take guidance from a Pennsylvania-based advisor 'Karen Lynne Chess' and most likely, the internet is where to find her basic info, simply do your research.
such an eye-opener! curiously inputted Karen Lynne Chess on the web, and at once spotted her consulting page, she seems highly professional from her resumé
If someone has a judgement against them, and they've put their assets in an LLC where they are the sole member, the plaintiff may not be able to go after the assets in the LLC directly. But what stops them from going after the members ownership interest in the LLC?
Had the same question. From what i understand they can pursue your interest in the LLC by foreclosure or demand. Not sure this video explained how the rich own nothing. You do own something. I’d be curious if they can explain how to shield those legal interests in an LLC or land trust
Maybe the point is to hide it from public record so that the plaintiffs counsel can’t find it and won’t bother due to lack of perceived value ? But in a court case during discovery i assume you would be mandated to submit a personal financial statement subject to perjury
@@andrej1923 Very likely.
It varies by state, so you have to consider the laws where you form the llc.
If a real estate property is transferred into an LLC in California, will it trigger a Prop 13 tax reassessment increase to current market value?
Hi Ken - why wouldn’t you use an irrevocable trust to protect assets from personal liability lawsuits?
The system is failing as a result of both government and federal policy. In the next days, the banking crisis would have to be epic and gigantic for the FED to decide not to raise interest rates. This won't happen; an increase and a crash are coming. There will be more negative portfolios this 2nd half of 2024 with markets tumbling, soaring inflation, and banks going out of business. My concern is how can the rapid interest-rate hike be of favor to a value investor, or is it better avoiding stocks for a while?
Just ''buy the dip'' man. In the long term it will payoff. High interest rates usually mean lower stock prices, however investors should be cautious of the bull run, its best you connect with a well-qualified adviser to meet your growth goals and avoid blunder
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
I definitely share your sentiment about these firms. Finding financial advisors like Stacy Lynn Staples who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Why not have the LLC buy the properties to save transfer fees AND never show a public record of ownership with the individual’s name? Skip buying in your own name?
Also, which states disallow judgment renewals?
I have heard there are issues getting a mortgage and other things as an LLC. So I assume people buy it in there name. And the bank resells your loans 100s of times so you quietly change the property over to the LLC. They won't notice it's only an issue if you tell the bank they get all weird about it.
The rising interest rate can surely control inflation, but won't prevent erosion of the eroding purchasing power of the US dollar. I have learnt my lesson this time. The banks can't be making money off my money, while inflation eats into it. I have set aside 650k to invest in the stock market now, since that keeps up with inflation, but I don't know how to get started.
Financial consultants can help by recommending investments that outpace inflation, such as real estate or certain stocks. A client of mine followed this strategy and saw their savings grow by 15_% in just two years, effectively countering inflation.
That makes sense. Unlike us, you seem to have the market figured out. Who is your fiduciary?
Zachery M Demers is the licensed FA I work with, I can't speak much about him you should make a search with his name, you'd find the necessary details to schedule an appointment.
Look at GBIL. If you like it buy at the first of the month
🚨scam alert🚨
If youre only forming LLCs for the purpose of holding your assets, any good lawyer can get those entities disregarded in court. Its called piercing the corporate veil. 2nd, for the price of fili g your required annual taxes on each LLC, you could probably buy enough insurance to cover your original loss.
Do what OJ Simpson (and so many others do) did and keep your money in a retirement account. Oh and no one can trace your precious metals.
I have a friend who is an immigrant from Asia. He owns a multi million dollar home. He has several family members on his deed so his technical ownership is fairly small.
In Europe the car insurance covers personal injury no limits, it’s illegal to drive without cover. Average cost $500 per annum same with house insurance
Wow alot of legal and insurance advice was offered without any disclaimers. This is definitely an oversimplification of both the legal and insurance procress. The amount of liabilities ken and this gentlemen took on in one video is stunning.
Can't people search state records for owners of LLC's? If a person owns an LLC, can't they go after the LLC?
@@gillean2 Nope. That's why it's called a Limited liability. When I worked at a car dealership.......the owners had their house under the ownership of the corporation or LLC. Their vehicles were all dealership owned vehicles. An LLC is an entirely separate legal entity from its owners.
The disclaimers are stated in the shaded section just above the comments.
I turned 40 today. I meet with 2 financial advisors earlier this year who estimated my net worth between 1.6 and 1.8 mil. I live in the middle of nowhere, work a bluecolor job in a very poor state, have an associates degree from a votec school. Anyone can do what I did. Most of my net worth is my 401k. The next chunk is my paid off house. I haven't had debt in years and live well below my means. I dont lose sleep over the housing market or stock market swinging...
BOOM! This is the way. Well done ma'am, seriously. If it doesn’t make sense to you, never invest in it. And the number one investment of all time (according to Buffett) is you!
Sounds like half a story. How do you break down 1.8 mil just by working a normal job at 40? Must be through investments, or untold benefits you received. 1.8 mil not something ‘anyone can do’ with a regular job and no particular benefits to start off with.
I'm celebrating a $30k stock portfolio today. started this journey with 6k,I have invested on time and also with the right terms now.
I work in IT as freelancer and earn well today, but have been salaried before. I know for fact that it is not possible except when going independent or making risky investments.
mianortum Damn that's huge, how do you make that much weekly? I'm 37 and have been looking for ways to be successful, please how???
As a beginner what do I need to do? How can I invest, on which platform? If you know any please share.
7:30 min: create an LLC then transfer the title from your name to the LLC.
Not good if the owner of the LLC(s) is exposed to judgements since the LLC is his asset.
An LLC is an entirely separate legal entity from its owners. The owners are partners.
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Love this content. We always encourage people to be well insured. People who say "im self insured" are just saying, "im going withput insurance." It just doesn't make sense.
.Thank you for this
But, the creditors can still seize shares, parts, or interest of the judgement debtor in the LLC. And the creditors will own the LLC to the extend of their debt or part of it depending on the value of the debtor's equity in the LLC. Normally, after the final judgement, the judgement debtor will be interrogated under oath. This is in addition to the creditors private investigation regarding the existence of the legally seizable assets, their location, and market value.before pursuing further enforcement proceedings.
Unless you're in CA, an LLC costs about $50-$100 to create in 5 minutes, and $10-$50 annually to maintain. In what case would you not want a unique LLC for each asset?
I appreciate your help Mr. McElroy.
In The Case of Rental Properties Series LLC is good.
Create Different LLC required lots of Paperworks and cost high.
Thanks Ken ,
i Shared your video in my network.👍
in australia if the asset is in a trust you pay way more CGT than if it was owned in your own name.
This is bizarre. What rich person doesn't have an umbrella personal liability policy? Did this guy drive his car through a shopping mall or something? T-bone hit a bus?
Yup. Most attorneys will just go after an easy and quick payout on the insurance and move on to the next easy payout. It is possible that one may decide to go for more but even then they can only put a lien on your property and can not collect if you don’t sell. Attorneys aren’t that patient
I think Ken alluded to he was drunk- if so you are sunk
From the drawing they were both on the wrong side of the road. Maybe they weren't in the U.S., maybe both roads were one way streets. Who knows
the whole videos feels like "this person ruined a bunch of people's life and got his assets taken. How you can ruin other people's lives and get out without much hassle "
Great video!. I'm looking to start investing in stocks or Forex Market with $60k this quarter. How do i go about it? Preferably want the route with the best return in investment. Thanks!
Where can one purchase Mauricio Rauld's new book?
Question : I live in Colorado, my attorney did not set up LLCs, he did it as TRUSTS. Does this provide the same protection as an LLC ?
I had the same question
It may depend on the type of trust, but generally no.
@@Coast_to_Coast Thank you -- but please give details & your background in law __ Thank you, from Colorado.
@@paulbrungardt9823 I think if it's a revocable trust it's not protected. I pulled this from the internet: "While trusts can protect assets from lawsuits, not every type of trust offers lawsuit protection. A revocable trust, such as a living trust, will not fill that bill. This is because creditors can step into our shoes and invoke your power of revocation. That is not the case with a properly drafted irrevocable trust."
You should ask your attorney
This is my question too
I love your videos and advice that said, nobody is rich who lives in Mesa AZ. You can have a billion dollars but if your living in mesa you aint rich. Your infinite money glitch video is one of my favorites.
Some incorrect information here. Placing properties or assets in an LLC/corp does not protect the individual if the individual who owns the LLC/corp is subject to personal liability. There are other means to do that, but that’s not one of them
Au contraire, your LLC will not protect your personal assets if you are sued for neglect.
How do you get your asset back in your name if you wanted it out of LLC ? Do you have to buy it or transfer it? Seems like they would get you for something like that?
Excellent video, answered so many questions I had about a plot of land I just purchased. 🎯. Thanks so much Ken
Doo you have a video on how to set up the LLC and transfer your assets. Step by step.
there's a book called whispers of manifestation on borlest , and it talks about how using some secret tehniques you can attract almost everything in life it's not some bullshit law of attraction, it's the real deal
It's still BS
🚨spam alert🚨
Bot. Don’t b fooled. Stay away.
The Bible is far greater.
@davedashow2203 there are 10 laws in the Word and I'm not talking about the 1
Interesting, I just stumbled across this video. I happen to have a LLC business so I'm familiar with the costs of registration, aaccountant, legal fees, etc AND I have a personal liability umbrella policy.
After watching this video and reading many comments, I think the best / cost-effective strategy for me is to get a much bigger umbrella!
Are the rentals protected if they’re under a trust and not an LLC?
This one always gets me. I hear put rentals in an LLC, and some say put it in a trust. So who is correct?
I couldn't get through this video. Here's the reality of life in the United States. The system is specifically set up principally to make money off of people's MISTAKES. This video underscores the importance of that issue from an insurance perspective. There are many other examples. If you make a mistake, ONE mistake, it has the potential to destroy you. You want to go have a few drinks with your friends at a happy hour that you might do only a few times a year? If you drive after drinking and get caught, that mistake will cost you thousands of dollars. Move through life being under-insured then make a mistake where that insurance is needed? You can go broke because you will be legally eaten alive in the court system. Marry the wrong person then get divorced? You will lose half your assets. Do you smoke? Are you addicted? You will eventually get cancer of some sort. Now you will be riddled with hospital bills, tests, and expensive medications leading ultimately to bankruptcy and/or death. The list goes on and on. I don't subscribe to living in paranoia, but making correctly defined decisions is really the key to living a sustainable and fulfilling life.
Insurance insurance insurance -Good lawyers and prenup. OJ had whole life insurance, can’t be touched even through it pays a lower dividend, and you can borrow off policy.
You specify the United States. Is there any system anywhere, where important mistakes do not have grave consequences?
@@rodschmidt8952 in a liberally run government mistakes do not have consequences. In parts of California today, stealing, for example, is not being punished.
@@rodschmidt8952 The principle point being made is that the United States has built a system that preys on social mistakes having been made. It's not that there are not typically consequences to mistakes, it's the parasitic impact that has been socially and economically connected to said mistakes. Such a system has a tendency to alienate people from their government and each other.
Get's you to wonder where hell is located.
As far as I know in Texas they can’t sue beyond the insurance limits unless there was gross negligence involved. Feel free to chime in.
You are correct. I was hit in an accident and the other party admitted fault (in Texas). You are forced into a choice, take the insurance payment or sue the party. You cannot do both.
@@MyCents-pm6qd good to know thanks
Great vid, thanks. Does a Trust provide similar protection to an LLC?
The bank gave me personally the mortgage and won’t allow a transfer to an LLC who in essence is responsible for the mortgage.
How do I get around that?
Yeah....they didn't get too deep on this video.
Not a lawyer......but it seems you would have to own the assets "free & clear" before putting it in a LLC.
I can't imagine any mortgage provider willing to let YOU shield something they technically still have ownership interest in
Put it into a trust and they probably won't object. Just check first.
Great video. Thanks for the info. Subbed.
This looks so much like a multi - level presentation
Help me understand, the assets that you put in the LLC is owned by the LLC? How does that separate the owner of the LLC from any liability?
What happens when you have a loan on the property and the bank calls the loan upon transfer of title from your name to the LLC? How do you get around it?
Is an LLC the same as a INC ?How do you turn your house into an LLC if you still have a mortgage ?
Thank you for the information!
Great, helpful video. Thank you!
Can you guys explain a layered level of trusts ? Where there's more than two levels of trusts, and more protection.
Will using the same LLC for several properties but deeding each one with separate d.b.a.'s afford the same asset protection as wholly separate LLC's?
Thanks for your outstanding Videos ! In California , as you know. LLCs are very expensive to " maintain"
How does that work with you owning the home and it being your personal residence and getting homeowner tax exemptions? If you transfer it into and LLC you'd have to pay full tax's?
What if you're a PC not LLC can you move all those assets into the PC? LLC carries a lot more tax implication does it not?
LLC is good, but insurance is king. Without proper insurance, the corporate veil can be pierced.
"Nobody is safe anymore. Not even Trump."
What would you consider proper insurance?
Umbrella?
Insurance and veil are 2 different things BUT I agree that insurance is ALWAYS your first line of defense. And if there are no other assets in the LLC then yes, not having insuyrance can open you up to a pierce argument
Trust is king - LLC is public vs business trust is private
@dougg4633 dividend paying whole life from a mutual company, designed for the banking function.
Thanks Ken!
Very helpful Thank you for sharing this
Putting well-earned money into the stock market can be over emphasized for first-time investors, unlike a bank where interest is sure thing! Well, basically times are uncertain, the market is out of control, and banks are gradually failing. I am working on a ballpark estimate of $5M for retirement, and I have a good 6-figure loaded up for this, could there be any opportunity for a boomer like me? I'm nearly 60.
Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life because I invested early ahead this time .
I totally agree; I am 66 years old, recently retired, with approximately $1.2 million in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, I didn't do all this alone, but with the help of a financial advisor. Having one is currently the best way to trade in the stock market, especially for people nearing retirement.
Is there any chance you could recommend who you work with? I've wanted to make this switch for a very long time now, but I've been very hesitant about. I'll appreciate any recommendation.
I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
Couple of things: if you’re a simple person with a couple of LLC’s holding real estate or whatever…you’re still exposed. Any decent attorney will attempt and probably succeed in jumping the “corporate vail”. It will be obvious as to what you’re doing. Also, if you already have millions in investments and own nothing else (such as myself) then “moving” the investments to an LLC creates all sorts of tax issues. Having LLC’s is not a guaranteed solution for liability exposure. It might help, but if you run through a bus full of children you’re screwed.
How about transferring the assets to a trust. Will the assets still be protected as they would in an llc?
Thanks for the great content.
Great content.
Will the transfer of a rental home from a personal ownership to LLC trigger property tax?
Is it easy to transfer the assets back to you from an LLC?
Wow Owen great video, so easy to comprehend, and straight forward to the point thank you. I am In my 30s and trying to invest at least $55k per year. Your channel has been a motivation for me.
How is it different owning shares in stocks to owning shares in your LLC? You're still owning shares.
Who or what owns the LLCs?
I’m in Australia so probably different but similar legal context. We set up the LLC (Pty Ltd) to be owned by a family trust of which we are trustees and beneficiaries. Not sure it serves the same purpose but protects us personally from any liability arising within the company.
What about setting up an LLC offshore and put state LLCs in the offshore LLC?
Is fallacious once you get the insurance settlement then that's what it is it's settled any case against the individual is dropped in invalid
So it works only for LLC or it can work well for a C corporation as well ?
Great video, gents! Why go directly to an LLC vs going directly into a Revocable Trust???
If there is a judgement against a person that owns LLCs can’t the plaintiff take the LLCs and therefore get the assets anyway?
Hi Ken, thank you for the information. So what happens to the property tax if you transfer that property into an LLC? I have a property that I got with a Prop 13 and it has very minimal property tax on it for the area? Will the county or state reassess the property and raise the property tax?
If you have all of these LLC’s with limited assets in each, who is doing the books for all these entities?
Superb information, thanks.
What about a trust instead of an LLC? Doesn't put things into a trust, protect you from assets being taken?
Pretty interesting you spoke a lot about insurance without saying you’re not an insurance agent and should not consult on insurance issues nor is this a consultation about your coverage amounts.
Does anyone know if your properties are protected if they are in a living trust?
First, put your property into a land trust. One property to one land trust. The land trust's trustee is the property's legal owner, who is recorded as the owner at the courthouse. The land trust is now the owner. The trust agreement is not recorded, so the ownership will only show your chosen trustee as the property owner. The trustee has no liability as a nominee trustee. Unless the trustee is ordered by a judge to reveal who owns the beneficial interest in the trust, there is no one to sue. This will cost the attorney upfront expenses and too much doubt in collecting on a judgment.
The annual fee for an LLC in California is $800/year plus other fees. Can this amount be a tax write off?
Where can I buy the book. The link said error. I was in a crosswalk and a vehicle hit me and I was seriously injured. After going through the legal aspect I see that I need to protect my own assets. Because I have a 16 year daughter who is going to drive soon and seeing the legal aspect I need LLCs and getting an umbrella policy soon. So I need the book to see the other protections. Thank you.
How do you plan to navigate your portfolio should the unrealized capital gains tax become policy?
This is an overly simplification as different states have different requirements and different protections. For example, in Florida you have homestead, tenants by the entireties, single member/ multiple members LLC differences re charging liens, transfer taxes by moving around properties, especially encumbered. So it is critical to discuss with a knowledgeable advisor in Florida.
LLCs don't even have these protections without a lot of caveats in my state. It's all land trusts is how to do it. But I am guessing every state is different.