Asset Protection with Attorney Doug Shaddix at Atlanta REIA WestPosted on May 21, 2011 by
Atlanta REIA is pleased to announce that Attorney Doug Shaddix will be our special guest speaker at our Atlanta REIA West Meeting on Monday, May23rd at 6:30 PM at the Marietta Fish Market located at 3185 Canton Road in Marietta, GA. Many of you recall that Doug was on our Attorney Panel at our Atlanta REIA Main Meeting. Doug is back this month to talk all about asset protection, estate planning and buying with entities such as trusts, LLCs, corporations and more!
If you have significant assets of any type, you are a target for a lawsuit! You need to know more about asset protection. Enjoy greater privacy, limits on your personal liability, as well as tax benefits through the use of entities such as LLC’s, corporations and trusts.
In today’s litigious society, you need only one person unhappy with your business, one injured tenant, one disgruntled individual to ruin all that you have worked for by going to a plaintiff’s lawyer to see how they can get to everything you own. If you are sued, you could lose your business, its equipment and vehicles, your personal automobiles, your home, your rental properties . . . anything that you own in your own name.
Are you in a General Partnership? Are you a Sole Proprietor? Do you own rental properties in your own name? You could have severe liability exposure.
John D. Rockefeller is quoted as saying, “Own nothing, control everything.”
Rental properties can be held in a land trust, or a Limited Liability Company. Financial assets such as notes, bonds, stocks, etc. can be held in a Living Revocable Trust. Potentially hazardous vehicles, tools or guns, can be held in their own personal property trusts.
Keep your assets in an LLC or corporation, your valuables in a trust, and your name off of the public record!
Unfortunately for those doing business today, it’s probably not a matter of IF you will be sued, it’s WHEN.
BENEFITS OF USING ENTITIES
- Maximize your privacy, keep your name off of the public records
- Minimize your tax burden
- Protect your assets by transferring wealth to your heirs without the government taking more than 50 percent through estate, inheritance and other taxes
- Protection from probate – a great help to your heirs
- Protection from lawsuits – Shield from lawsuits what you’ve worked hard for.
To learn more about asset protection and estate planning for personal and business purposes, please come meet Attorney Doug Shaddix at our Atlanta REIA West Meeting on Monday, May 19th. Please note, this month we are meeting at the Marietta Fish Market located at 3185 Canton Road in Marietta, GA. There is currently a $5.00 cover charge for non-members to attend this event. Show up at 6:30 PM to eat and network before the meeting officially starts at 7:00 PM.