What's up guys.
In this video, I'm going to show you
three strategies that'll make any lawyer think twice before coming.
For your assets.
These strategies are designed to thwart.
B.S. lawsuits from taking.
Your investment, your personal. Residence.
Or your business.
And before I get started, if you want to learn more about.
How to properly structure all your real estate.
Investments and protect your assets.
You can. Register for a free.
Tax and asset protection live event at the link below.
All right.
Now, before we get into.
That, I want to talk about what a Creditor can.
Collect against, because that's going to really play into
how we set up structures for you to avoid.
Attorneys and creditors and.
Snoops from getting into your actual. Affairs.
And taking those assets.
So here's some things that they can do.
Number one, they can. Garnish your account.
So what does that mean? If you have a bank account.
In your personal.
Name or you have a bank account
in the name of your business and they're suing their business.
A way for a creditor.
To get that cash is they'll just apply.
For a garnishment. On that account.
And the bank will actually hold those funds in in in abeyance for that creditor.
Other things they can do if you have real estate, they can.
Leave your real estate.
Not only can
they get a post judgment line, sometimes they can obtain
what we call a prejudgment. Lean against your property.
So if I was suing you and you have property in your own name,
I could move for a Liz Pendants or Woolies,
which is essentially lean on your property before the lawsuits even finish.
What does that mean?
Well, you can't sell
you can't refinance a property if you did try to do one of those more.
More importantly, if you tried to sell.
The proceeds would be paid over to the.
Court.
They could also. Foreclose on your assets.
So if I get a judgment against you, I can then move.
To foreclosure. And take these things.
So here's what we want to do.
We want to put together a plan and you strategies that make a number one, you.
Appear worthless.
Because no one wants to go after somebody that does not have assets.
So we want to look at strategies that when someone's looking at you, say they're.
Typing up your name. Say, hey, what does Clint own?
Well, they don't see anything in my name or if they were suing my business.
What is that business owned again?
You're not going to find assets
in the name of the business or what you're going to do your business
is going to look like it's fully indebted because that's another strategy as well.
I'm going to share with you is how to make it appear is that you owe so much money.
Step in line. I'm not worth going after.
So let's break this down. Let's first start with. How.
To protect your business.
So if you've got a small business or maybe a medium sized business,
one of the number one mistakes that I see people make time and time again
is they keep a lot of.
Cash in their business.
Now, maybe you're saying, well, I need to keep that cash in my business
for business operations. I get it. That does happen.
But here are some things I want you to think about
when it comes to to protecting. Your. Business.
So let's say I have this corporation here.
It could be an LLC.
It really doesn't matter. So here's my entity.
And inside of this entity, let's say it had $400,000 cash.
Well, why would you leave that money. Inside of your entity?
Because by leaving it. Inside of your entity, if.
Something goes wrong with the business, they're going to sue
and try to collect this.
So what you should do is distribute out, let's say 300 to
that will pull out of the company, put. It into my personal.
Name, and then I'll move it.
Over here into a separate. LLC.
So think. Of this as your banking. Entity.
So if you're running.
The business, what I suggest you do is you always have
a banking entity set up that holds.
Your cash that. You're going to be using.
In your business.
And that's where you should be parking it.
Don't leave the cash in your business.
Similarly, if you have equipment that you use in your business, maybe you have.
Delivery trucks or.
Things like that, vehicles
don't leave those in your business because things like that.
Creditors are going to want to come after if they're suing your company.
So by putting the. Assets over here in the.
LLC, the cash, what you're setting up for yourself is this strategy right here.
So now once the cash is in there, then what you can do is you can enter.
Into a line of credit agreement with your.
Existing business.
So in this case, what I would do is I didn't read into this.
Line of credit for. $1,000,000.
And when I say $1,000,000, what I mean is just pick a number out of there.
It really doesn't matter.
You don't have to have $1,000,000 inside of that limited liability
company to use this strategy, because what I'm trying to do.
Here.
Is make it.
Appear as if my. Company is fully indebted.
If somebody is looking to come after me, they're going to say, wow,
his company, it owes $1,000,000 to this other limited liability company.
Now, what's key about that as well is when you set up this LLC,
set it up in Wyoming so they don't see your name attached to it.
So now once I enter into this. Line of credit.
I'm going to put a I'm going to put debt on my company of $1,000,000
and the way I'm going to fix this.
So people will see it as I'm going to follow a UCC one
financing statement against my business.
So my LLC is going to file.
Think of it like a. Mortgage.
Against my business for $1,000,000.
Now, here are some points that I want you to consider.
People will tell you if you do that, you try to go out and get a traditional loan.
No one's going to loan your company money.
I know I can release it at any time so I can go out there
and get traditional financing.
What this is is a smokescreen.
By filing this lean, I called a friendly lean against my business.
I am telling the.
World at large if anybody.
Is looking at me like a creditor saying, Hey, yeah,
I want to take this case, we'll go through that business.
This is my retirement plan.
Well, think again, because when they run an asset.
Search on your business.
It's going to have this $1 million lean recorded against it.
Reality. It's just a smokescreen.
You don't know what I mean. It's you, right?
You want you owe yourself money.
Wow. How bad can that be?
So for business owners, one of the best strategies
you can implement is called a friendly lean
between a Wyoming LLC that you set up, that you put your cash.
In there.
And then you put that UCC one against your business.
And remember, if you need the cash, because people have asked me, Well, Clint,
how do I get the cash from my LLC to my business when I need that money?
Right. If we can check, that's all you.
Got to do or transfer. The money online.
There's it's not rocket science here.
You're in control. Of both entities.
Now, the second thing I want to teach you how to protect, to keep it away from.
There's your investment. Accounts in your savings.
How do we. Protect.
Our investment accounts and savings. From creditors.
And from aggressive attorneys? Simple.
Just like we talking about with your business,
you take those accounts and you get them out of your name.
Now, what we want to use here is a strategy.
Where we're relying. Upon state law, a.
State that grants us great protections that prevent our personal creditors.
From getting. After our assets.
And one of the mistakes I saw a couple of years ago
that was made
by an individuals that he entered into the settlement agreement with the bank.
For. A deficiency judgment.
And he had all this cash.
In his personal.
Checking account and he thought he was going to be. Secure.
Well, the bank went after him for this deficiency judgment when they garnished.
His personal account.
He went to his. Personal.
Checking account, tried to use his ATM card, declined, declined.
He called the bank and said, what's going on?
They said, well.
We're holding your funds for your creditor.
That should. Never happen. To you.
And the way you prevent that is you. Take your personal.
Checking account, your savings account, you get it out of your name.
You don't want to keep all that money. In your own. Name.
You want to put it in the limited liability company.
Again, use a Wyoming LLC.
In fact, if you have a business and.
You have a.
This could be the same. Entity right here.
You could use. It for yourself and. Your your business.
So what I'm going to do
is I'm going to set up a Wyoming LLC and I've put all my savings.
Inside of here. And if you carry a big, fat.
Checking account, stop, put, put most of your checking money in there as well.
There's no reason why you should. Have it in your personal. Name.
And then you'll be.
The member and you're going to. Be the manager of this LLC.
So you have, you have total access to, to, to the funds at any time.
Don't worry about. Taxes.
It's completely tax neutral, just another account that you create.
But it's not in your name.
It's in a limited liability company.
Now, if somebody came after you and they said, well, how much do you.
Have in your personal checking. Account? Well, I have.
14. Thousand dollars.
This is the only thing they could collect on.
Your brokerage. Account would be inside of here.
So my stocks are inside of this Wyoming LLC.
My savings account is inside of there.
And then whenever I need them all, I got to do,
write a check, take it, take the assets out.
So this is how.
You should protect. Your savings to keep it away?
No maxing.
How do we go about. Protecting your personal. Residence?
Because, you know, that's an asset you have. You have a lot of equity.
That's built up in there.
Again, if someone got a judgment against you, they're going to take
that judgment, record that judgment in the county
where you live, they'll go down the county.
Recorder's house, record.
The judgment
you try to sell, you try to refi that creditor's going to get paid off.
So when it comes to.
Protecting your personal residence.
Again, we have to get it out of your name.
We don't want your name associated with the property.
So the way. We protect.
Personal residences. Here is we. Use.
What is referred to as a personal.
Residence trust.
I'm going to call that a party.
So you set up a trust and you don't have to file this with the state.
This is a private document.
We set up this. Personal. Residence trust.
And I put my.
I.D., my. Personal.
Residence. To there.
I'm the beneficiary. Of this trust.
You want to use a nominee, trustee or what I would use
is that same LLC that I set up.
Over here for. My savings.
I'll make that the trustee
of this trust.
And the reason why I'm doing that is because if someone were to look at title
to that property that I just showed you and they look.
At my personal. Residence, they'll see it's no.
Longer in Clint's. Name.
It's in the name of, you know.
The green. Box.
Trust, care of.
Funkytown, limited liability company trustee.
All right. None of that points back to me.
So if somebody dropped a judge, they get a judgment against me, and they
they record the judgment in.
The county where I. Live.
It won't attach to my property because my house is no.
Longer in. My own name.
This is a very simple strategy.
For people to protect their personal residence.
You create a personal.
Residence trust with an LLC, a Wyoming LLC as a trustee.
Deed, your property.
In your problems now are are minimized such that you could sell,
you could refi, that property.
And again, those proceeds get paid to the trust, not to you, so they don't.
Go to your creditor.
Now, the last item I want to share with you,
I think what you should look at protecting.
Is your investment.
Real estate.
So how do we protect that?
We've watched my other videos on this channel.
You know, I talk about using limited liability companies.
But the thing is, is that the.
Yes. That protects you from what happens with your real estate and it.
Does protect your real estate.
From claims that are brought against you, because that's why we're using LLC.
But what you can also.
Consider. Is taking it one step. Further.
Because if I have a piece of property, okay, right.
Here.
Inside of a limited liability company, let's say this house,
it's located in California, this rental property,
and it has $700,000 equity in that property, that rental property.
Well, that's an attractive target.
If I have.
A disgruntled tenant and they want to sue,
they're going to come after my LLC because they see a big fat payday here.
Because when you look what you would find
if you looked at title, you would say, Hey.
There's a first. With, let's say Wells Fargo.
And the amount of debt on that property is two or $200,000.
The value of that property is $900,000.
So we know there's $700,000 available in that lawsuit.
If I were to be successful,
will your job should be to make it appear as if there is no equity available.
To a creditor.
So how do we make that equity disappear?
Well, obviously, you can go and try to get an equity line of credit
from an investment bank that's willing to loan on an investment property.
Probably not going to happen.
Or if they did provide you with an equity line of credit,
it's not going to be for the full amount.
Maybe they'll go up to 60%.
So rather than talking to a bank about this, why don't you become.
Your own lender again. Just like we did with the business.
Remember that LLC, that Wyoming LLC we were talking about?
Well, here comes a. Wyoming LLC to the rescue.
One more time.
This Wyoming LLC is down here.
It's going to file a.
Line of credit where you get a line of credit, and we're going to file.
A deed of trust against that property for $700,000.
So that gets recorded against the house.
And if someone's looking at that property in that LLC and they're going,
how much equity is available? Well, they're going to see the.
First with Wells Fargo for.
200 K, then they're going to see a $700,000 lean
or the second deed of trust from this obscure Wyoming LLC.
The reason I'm saying use Wyoming is because Wyoming doesn't collect
any information who the members are, who the manager managers are in the LLC.
So it provides anonymity.
These strategies that I just shared with you.
They are tested.
They do work, but where people can screw this up is when they set up this,
this Wyoming LLC or this LLC over here to be their banking entity.
They do not use a jurisdiction like like Wyoming.
Which protects their identity. They set it up in their own state.
And so when someone
pulls a search on that entity, they say, Oh, it's Clint's house.
Clint's LLC. Oh, I see what he's doing.
He's, he's put in this deed of trust on his property to make.
It appear as if the.
Equity's been been borrowed against, when in reality, it probably hasn't.
So we don't want that to happen.
So so to break this down and recap, what have we done.
We're create one.
Wyoming LLC. Right here. Right.
And that Wyoming LLC, it can it can file
a UCC one against our business.
All right.
We've got Rent or Real Estate LLC.
Over here where we have our property.
It can file a deed of trust against our rent or real estate LLC.
This LLC. Right here will.
Also hold our savings and our investment accounts inside.
Of there.
And then to protect your personal residence,
you can put that over here if you wanted to.
You can even make this a trustee.
Of your personal. Residence.
There's so many different ways we can spokes that we can pull off of this LLC.
But these are strategies that we've been using for.
Years to help our clients protect their assets.
If you want to learn more about this in detail, I want to invite.
You to our tax. And asset protection event.
You can click on the link below to register for that event.
I tell you, this is an event myself and my partner, Toby Mathis.
We teach where I go in real depth, deep into limited liability
companies, strategies like this using. Land trust, personal.
Residence trust
corporations to run your business, to run your real estate, investing,
and how these types of entities need to be modified based upon.
Different areas of.
Investing that you may be interested in.
And then the best part about it is after we cover that, we go on to the tax side.
We're going to answer all your tax questions.
And show you how you can reap the benefits
of owning real estate, running your own business, and put a ton of money.
Back in your pocket.
And the thing about it
that really impresses people about our tax and asset protection event
is that not only do
you get to listen to myself and my partner Toby, teach this event to you
and dispense this. Information. You.
Get to get your questions answered. That is, we're going to have attorneys on.
Their tax, strategists. On their answering your.
Tax and asset protection questions while the event's going on.
Guys, if you hadn't been to a yet, I.
Highly encourage you to. Join us.
When we teach this event, you'll get a ton out of it.
It'll be the best Saturday you ever spent.