ILAB 96 – 6 Keys to Protecting Your Properties From Lawsuits With Scott Smith

“The only way you can protect yourself is taking action ahead of time.”

Scott Smith

Scott Smith is the owner of Royal Legal Solutions, an asset protection company for real estate investors which develops strategies to maximize tax savings and protect from lawsuits. He himself is a real estate investor who holds real estate investments in 10 states. He believes that if a person is building a real estate empire, he is bound to get sued and being one step ahead is the wisest way to protect his assets.

During the episode, Scott explains the 6 keys that would help property owners protect their assets from devastating lawsuits. In the real estate world, getting sued is a common thing and a very expensive one. He explains the foundation of asset protection and several ideas that go with it. Listen in and find out why real estate investors need professional asset protection.

Listen to ILAB 96 on iTunes here or subscribe on your favorite podcast app.

ILAB 96 Show Notes


Where we are:

Sam – Florida

Johnny – Ukraine

 

Links:

Company – Royallegalsolutions.com

Email – Scott@RoyalLegalSolutions.com

Youtube – Royal Legal Solutions

LinkedIn – Scott-Royal-Smith

 

Recommended:

ArtofFX – start with just a $10,000 account (reduced from $25,000)

Fundrise – start with only $1,000 into their REIT funds (non-accredited investors OK)

Wealthfront – get your first $15,000 managed free

 

Time Stamps:

07:57 – His journey to Real Estate Investing

12:28 – The foundation for protecting assets

17:45 – Lawsuits from accidents

20:21 – The truth about Insurance Companies

22:10 – Getting started with Asset Protection

23:37 – Series LLC

28:43 – Insurance and other asset protection

31:17 – Recommendations for what insurance to choose

32:51 – Umbrella Policy

33:33 – Separation of the asset with your personal name

34:37 – Compartmentalization of Assets

37:43 – The Unanimity Structure

40:20 – What do Royal Legal Solutions do?

 

If you enjoyed this episode, do us a favor and share it! Also if you haven’t already, please take a minute to leave us a 5-star review on iTunes and claim your bonus here!

Copyright 2017. All rights reserved. Read our disclaimer here.