Podcasts about series llc

In this episode, we explore the world of real estate investing with a focus on hard money lending and opportunistic fund strategies. Our guest shares their journey into the industry, insights on structuring a debt fund through a Series LLC, and strategies for buying defaulting loans and turning them into profitable opportunities. We discuss key investment criteria across asset classes like office spaces and retail centers, the synergy between debt and equity offerings, and the dynamics of successful business partnerships. Packed with practical advice for new investors and seasoned professionals, this episode offers a comprehensive look at creating value in real estate through innovative strategies and informed decision-making. Introduction to Bigger Pockets and Real Estate Journey (00:02:11)Don Konipol explained that Bigger Pockets, founded nearly 20 years ago, is a platform for real estate investors to share ideas and network. He shared his journey from banking in Switzerland to becoming a real estate broker in Houston in 1978, starting his investment career in 1981.Evolution into Hard Money Lending (00:06:33)Don described how he pioneered hard money lending by wrapping mortgage notes in 1981, following Jimmy Napier's 'Invest in Debt' book. He formalized his business in 2001 and currently manages a series LLC fund that allows investors to choose specific notes.Fund Structure and Investment Strategy (00:08:11)Don detailed his fund's structure, where each note is in a separate series LLC. Investors are grouped in tranches of 10, with 24-hour decision windows. He emphasized that Mitch and he personally invest 10-15% of each offering.Loan Types and Terms (00:20:00)Don explained that they focus on commercial loans, with terms of 12-24 months and interest rates of 12-13.5%. They work with various asset classes, including office spaces, retail centers, and specialty deals like marinas.Risk Management and Default Rates (00:27:20)Don shared that their default rate is 6.7%, with most defaults being short-term. He discussed their approach to managing risk through conservative loan-to-value ratios and careful asset selection.COVID-19 Impact and Recovery (00:31:47)Don described how they managed through COVID-19, including working with borrowers and their experience with retail properties purchased just before the lockdown. 

Joining us on this special fifth-anniversary episode of Living Off Rentals is an attorney with over 15 years of experience helping high-net-worth individuals protect their assets and grow their wealth.  Glenn Truitt is the co-founder of Private Wealth Law, where he focuses on everything from Mergers and Acquisitions to Corporate Governance and Asset Protection.  Born in the suburbs of Chicago and growing up in Denver, Glenn is a proud graduate of the U.S. Naval Academy (graduating 8th in his class) and served as a Ballistic Missile Submarine Officer in the Navy before earning his law degree from Stanford Law School.  In this episode, Glenn breaks down the corporate governance strategies that real estate investors need to know. From choosing the right LLC structure to understanding Series LLCs and Family Limited Partnerships, Glenn shares tips to help you reduce your risk while saving time and money in the long run. If you're serious about protecting your investments, this is an episode you don't want to miss. Listen and enjoy the show! Key Takeaways: [03:10] Introducing Glenn Truitt and his background [08:40] Common Misconceptions for Business Law for Real Estate Investors [15:56] About piercing in real estate [25:11] Series LLC vs Individual [36:37] Glenn's recommendations on the best way to partner in business [42:00] Unsaid expectations, pre-planned problems [48:18] Family Limited Partnership (FLP) [54:33] Connect with Glenn Guest Links: Website: https://privatewealthlawinc.com/  Email: gtruitt@privatewealthlawinc.com The ABCs of LLCs: https://privatewealthlawinc.com/insights/#papers  Show Links: Living Off Rentals YouTube Channel – youtube.com/c/LivingOffRentals  Living Off Rentals YouTube Podcast Channel - youtube.com/c/LivingOffRentalsPodcast  Living Off Rentals Facebook Group – facebook.com/groups/livingoffrentals  Living Off Rentals Website – https://www.livingoffrentals.com/  Living Off Rentals Instagram – instagram.com/livingoffrentals  Living Off Rentals TikTok – tiktok.com/@livingoffrentals   

MSP Recovery Claims, Series LLC v. Fresenius Medical Care Holdings, Inc.

In this episode of Living Off Rentals, Scott Royal Smith joins us to share his knowledge. He is a former litigator and now the founder of Royal Legal Solutions, a company dedicated to helping real estate investors protect their assets, save money on taxes and boost their net worth and cash flow.  Scott is also a real estate investor, with his portfolio including properties from every asset class, from single-family and multi-family homes to syndications and commercial properties, giving him an all-around perspective of the industry in both the legal bird's eye view and from the trenches.  Tune in as he shares how investors can better safeguard their assets and grow their wealth effectively, particularly with the help of series LLCs. Key Takeaways [00:00] Introducing Scott Royal Smith and his background [04:32] Transitioning to asset protection from corporate litigation [07:32] Discussing ideal setups for rental property investors   [11:42] Series LLCs and why you should consider starting one [17:09] Ideal setups for partnerships  [20:50] On tax-saving strategies [30:04] What to consider to succeed in investing [32:54] Where most real estate plans fail [37:55] Connect with Scott and Royal Legal Solutions   Guest Links Website – royallegalsolutions.com Show Links  Living Off Rentals YouTube Channel – youtube.com/c/LivingOffRentals Living Off Rentals Facebook Group – facebook.com/groups/livingoffrentals Living Off Rentals Website – livingoffrentals.com Living Off Rentals Instagram – instagram.com/livingoffrentals Living Off Rentals TikTok – tiktok.com/@livingoffrentals

The CORPORATE TRANSPARENCY ACT is less than a month away from going live and the wealth management industry doesn't seem to be too worried about it. That worries me because it affects at least 32 million entities according to FinCen- including most small businesses in this country. States like New York may be enacting laws to mirror the disclosure requirements at the state level. Non-compliance is expensive and could lead to jail. How to manage these reporting responsibilities is going to be a big issue in the wealth space. I covered the general framework in June with attorney Stephen Liss here: EPISODE 134. Today, we're going to speak with friend of the podcast, JOHN WILLIAMS on the CTA and 2024. He is the President of the Williams Law Firm in Delaware and President of INCNOW.COM, a corporate formation firm. We're going to talk about taking on this responsibility as an advisor and what businesses (big and small) might expect in 2024 and beyond with this new mandate. Corporate Transparency Act- A Quick Review 1) Whom does it apply to and how big is this lift? 2) What needs to be reported? Do we know how at this point?3) By whom exactly?  Client?  Advisor? Paralegal?4) What is the timing for reporting? How long do you have to report changes? Can you correct mistakes?5) What are the penalties for getting this wrong? For Advisers, RIA's, Lawyers, CPA's and MFO's 6) How much time should compliance take?  Who is responsible? Simple ownership (90min) vs complex ownership Change in ownership If something goes wrong, who is liable (i.e. who goes to jail)? Paralegal liability 7) What are best practices for compliance? For clients? For advisors suggesting entities? For Administrators? 8) Who should be in this business?  Headcount? Is there liability insurance for advisors/admins? Are Law firms ready for this?   RIA's and MFO's? CPA's looking to "help"? 9) What is a realistic cost for this?  Especially given ongoing service and liability?  Will clients understand what they are paying for and why? Can this be AI'ed away? 10) How are you thinking about it (for your business)? Is it a profit center? Is this for the "Faint of heart" or the tourist? Is there a danger in treating this as an accommodation? 11) Practical questions- Who is a control officer?  senior officers / directors / others (trustees)? An incorporator? Series LLC's = multiple reports? Information sharing between FINCEN, IRS, DOJ others?  Is Privacy over? Should everyone get a FINCEN number? Are we entering a new era of corporate governance and record keeping for clients and their businesses? (I.e. is corporate governance going to be a "real thing" going forward?) How to Find John Williams and his firm. INCNOW.COM TWITTER THE WILLIAMS LAW FIRM https://www.amazon.com/Wealth-Actually-Intelligent-Decision-Making-1-ebook/dp/B07FPQJJQT/

Welcome to the Serve No Master Podcast! This podcast is aimed at helping you find ways to create new revenue streams or make money online without dealing with an underpaid or underappreciated job. Our host is best-selling author, Jonathan Green.Today's guest is Scott Royal Smith is a real estate investor and entrepreneur who learned the importance of asset protection through personal experience. After a friend lost over $5,000,000 in a lawsuit due to owning assets in his personal name, Scott realized the limitations of insurance coverage. Drawing from his background in litigation, Scott understands that lawsuits can arise from various situations, such as car accidents or breach of contract actions. To safeguard his own assets, Scott utilizes anonymous asset holding companies to ensure he doesn't personally own anything. His goal is to help others become "bulletproof" by educating them on the importance of proper asset protection.In this episode Scott Royal Smith shares his expertise on creating separate LLCs for business operations and asset holding, as well as the benefits of using a Series LLC. He emphasizes the importance of compartmentalizing assets, managing books and banking, and hiring professionals as your wealth grows. The discussion also touches on the power of anonymous trusts, tax optimization, and the need for proper risk management.Notable Quotes- "I think that's where I see people get messed up as they think that, like, they can cut the corners of the ways that people have always done it." - [Scott Royal Smith]- "The taxes actually end up becoming the best asset people have that gives them a 50 to a 100 percent annual return for what it costs to do good tax planning if you're making over $152,100 a year typically where we see that."- [Scott Royal Smith]-  "If you do all of your business operations and through operating companies, make it where you operate like rich people do where you don't own anything, but you have companies and those companies own those things and you control them, then that's how you set yourself up to win the game." - [Jonathan Green]-  "You really do have to do the stuff from the beginning, like separate your personal and business bank account." - [Jonathan Green]Connect with Scott Royal SmithWebsite: https://royallegalsolutions.com/LinkedIn: https://www.linkedin.com/in/scott-royal-smith/Twitter: https://twitter.com/royal_legal_lawFacebook: https://www.facebook.com/ScottRoyalSmithRLSInstagram: https://www.instagram.com/royal.legal.solutions/YouTube: https://www.youtube.com/c/RoyalLegalSolutionsConnect with Jonathan Green The Bestseller: Serve No Master Free Book on Amazon: Fire Your Boss Podcast Website: https://servenomaster.com/podcast/ Subscribe, Rate, and Review: https://servenomaster.com/itunes Video Episodes: https://www.youtube.com/@ServeNoMasterPodcast

In this episode of Tourpreneur, Mitch Bach interviews Chris Foxcroft-Hibbs, the owner of Happy Lifestyle Accounting.   Chris specializes in working with tourism businesses, including guides and operators. The episode focuses on income taxes and strategies for tour guides and operators to consider.   Chris emphasizes the importance of making sure all transactions are recorded properly and all debts are in order. He also suggests working with a good accountant to help maximize deductions and ensure profitability.   The discussion emphasizes the joys that can come from proper tax planning and preparation.   [00:02:52] Tax strategy for small businesses. [00:04:54] Saving on your tax bill. [00:07:09] S corp taxation benefits. [00:10:50] Finding Personal Benefit of Business Deductions. [00:14:34] Chart of Accounts and Deductions. [00:18:21] LLC vs Series LLC. [00:21:54] Budgeting strategies. [00:27:34] Educational tour operations. [00:28:57] Cash vs Accrual Accounting. [00:34:05] Profit Planning and Growth. [00:35:54] Business Metrics to Track. [00:39:51] Building a healthy accountant-client relationship. [00:42:45] Fixed pricing in accounting. [00:46:12] Operational Efficiency.   Help us keep this community alive by becoming a member of Tourpreneur+ https://tourpreneur.com/plus/   This helps us bring in speakers, run events and provide even more value to our community. All for less than a coffee per day!

ROYAL LEGAL SOLUTIONS Learn how to free your time, protect your assets, and create lasting wealth with asset protection attorney and long-time real estate investor, Scott Royal Smith. When a close friend lost over $3 million in a single lawsuit, Scott decided to leave his litigation practice to help people protect themselves from frivolous lawsuits. His law firm, Royal Legal Solutions, now helps thousands of real estate investors and entrepreneurs protect more than $1.2 billion in assets. Join Scott as he deconstructs the lawsuit game and shows you how to protect yourself and your hard-earned wealth.*********************************************************************************MEET THE HOSTSScott Royal Smith, Esq., CEO, Real Estate Investor. As the founder of Royal Legal Solutions, I am an asset protection attorney and long-time real estate investor in every asset class in 10+ states. My background in litigation and investing uniquely has provided me with insights into how to best use the law for maximum legal advantage while streamlining operations, taxes, and compliance.*********************************************************************************KEY TAKEAWAYSAre you considering partnering with someone in a business venture but don't know how to ensure you will both be protected? Listen in on this session of Royal Investing with Jason Marino, Royal Legal Solutions staff attorney. Jason breaks down the best practices for structuring your business with partners to maintain anonymity and liability protection using a Series LLC or Delaware Statutory Trust (DST). After a brief overview, attendees shared their thoughts and posed questions specific to their situations.Want a refresher or to see what you missed? Watch the replay. REGISTER FOR ROYAL INVESTING and attend LIVE on Zoom, Wednesdays at 11:30 p.m. CST.Ready to go beyond basics and take your education to the next level? Get FREE Access to the Asset Protection Vault. This resource contains our top 5 video Masterclasses and ebooks.*********************************************************************************ENGAGE WITH USAre you ready to take action on Asset Protection, Tax Strategy, or Estate Planning? Take our Financial Freedom Quiz, where we will gather your general information to have a productive conversation. At the end of the quiz, you will have the opportunity to schedule your consultation. https://hubs.la/Q014rfVz0For tax questions complete this quiz: https://go.royallegalsolutions.com/tax-discover-quizFor insurance questions complete this quiz: https://go.royallegalsolutions.com/insurance*********************************************************************************DISCORD COMMUNITYhttps://discord.gg/KKS7rZG5kM*********************************************************************************WEBSITE: http://royallegalsolutions.comLINKEDIN: Check out what folks are saying and make a professional connection with Scott Royal Smith https://www.linkedin.com/in/scott-royal-smith/ FACEBOOK: Join our exclusive group to discover the tax, legal, & asset protection secrets every real estate investor needs to know. https://www.facebook.com/groups/495820367909918/

ROYAL LEGAL SOLUTIONS Learn how to free your time, protect your assets, and create lasting wealth with asset protection attorney and long-time real estate investor, Scott Royal Smith. When a close friend lost over $3 million in a single lawsuit, Scott decided to leave his litigation practice to help people protect themselves from frivolous lawsuits. His law firm, Royal Legal Solutions, now helps thousands of real estate investors and entrepreneurs protect more than $1.2 billion in assets. Join Scott as he deconstructs the lawsuit game and shows you how to protect yourself and your hard-earned wealth.*********************************************************************************MEET THE HOSTSScott Royal Smith, Esq., CEO, Real Estate Investor. As the founder of Royal Legal Solutions, I am an asset protection attorney and long-time real estate investor in every asset class in 10+ states. My background in litigation and investing uniquely has provided me with insights into how to best use the law for maximum legal advantage while streamlining operations, taxes, and compliance.*********************************************************************************KEY TAKEAWAYSHave you wondered how you would file taxes if you had or formed a partnership through an LLC or Series LLC? Partnerships are required to file additional documentation with the IRS called form 1065. An entity owned by two or more people is considered a partnership by the IRS. The one exception is if the partners are married. In this case, married partners may choose to file a joint personal tax return and forgo form 1065. However, there may be advantages to filing form 1065. Find out why you might want to file form 1065, even though you technically don't have to, in this session of Royal Investing with Pete Schindele. Want a refresher or to see what you missed? Watch the replay. REGISTER FOR ROYAL INVESTING and attend LIVE on Zoom, Wednesdays at 11:30 p.m. CST.Ready to go beyond basics and take your education to the next level? Get FREE Access to the Asset Protection Vault. This resource contains our top 5 video Masterclasses and ebooks.*********************************************************************************ENGAGE WITH USAre you ready to take action on Asset Protection, Tax Strategy, or Estate Planning? Take our Financial Freedom Quiz, where we will gather your general information to have a productive conversation. At the end of the quiz, you will have the opportunity to schedule your consultation. https://hubs.la/Q014rfVz0For tax questions complete this quiz: https://go.royallegalsolutions.com/tax-discover-quizFor insurance questions complete this quiz: https://go.royallegalsolutions.com/insurance*********************************************************************************DISCORD COMMUNITYhttps://discord.gg/KKS7rZG5kM*********************************************************************************WEBSITE: http://royallegalsolutions.comLINKEDIN: Check out what folks are saying and make a professional connection with Scott Royal Smith https://www.linkedin.com/in/scott-royal-smith/ FACEBOOK: Join our exclusive group to discover the tax, legal, & asset protection secrets every real estate investor needs to know. https://www.facebook.com/groups/495820367909918/

Jordan Teague (@jordanteague) is an attorney and smart contract developer. In her crypto-native law practice, The Antifirm, she focuses on governance, regulatory, and other legal issues facing web3 organizations. Jordan is one of the core developers behind KaliDAO and a legal engineer with LexDAO. In this episode, we discuss all things DAOs - legislation, potential, and legal structuring, as well as Jordan's journey into legal engineering, and what the future legal system looks like. Show highlights: [1:22] Genesis Block [12:50] KaliDAO & Series LLC [20:00] The Antifirm [30:20] Ricardian Contracts [44:00] Projects [49:00] Habits & Life Advice Thanks for listening! If you enjoyed this episode, please consider leaving a review. You can subscribe to our newsletter to stay updated on the latest episodes. Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

When it comes to asset protection and the legal side of real estate, a lot of people can run into trouble. Some people use their personal names for their assets, and when things get rough, they end up with nothing. Learn how you can protect yourself with your hosts Jim Pfeifer and the Left Field Investors as they talk to Scott Smith of Royal Legal Solutions. Scott is an Attorney and the Founder of Royal Legal Systems. His goal is to share his knowledge as an Attorney to help real estate investors protect their futures. Learn what a Series LLC is and what a Child Series is. Find the right sponsors and work with the right people. Listen to the conversation to protect your assets ASAP!To see the full show notes and transcript, click here.Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors' Community.Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.

Scott Smith is an asset protection attorney based in Austin, Texas, a real estate investor, host ofhttps://podcasts.apple.com/us/podcast/real-estate-nerds/id1434931484 ( Real Estate Nerds Podcast), and Founder of Royal Legal Solutions, a company that helps real estate investors protect their assets and create time and financial freedom. He started his career as a litigation attorney who brought suits against major insurance companies. He was first aired in the podcast in Episode 129 way back in 2018.  KEY POINTS Key asset protection points investors must know  Why you need asset protection for your real estate portfolio Structuring your asset protection strategy  Why anonymity is important in LLC  Series LLC Land Trusts Tax Incentives RESOURCES https://royallegalsolutions.com/ (Royal Legal Solutions) Visithttp://m/gp/product/B00NB86OYE/ref=as_li_tl?ie=UTF8&tag=jacob0ee-20&camp=1789&creative=9325&linkCode=as2&creativeASIN=B00NB86OYE&linkId=100a9d2905599266aa7088bba0a33d55 ( Audible) for a free trial and free audiobook download!

ROYAL LEGAL SOLUTIONSLearn how to free your time, protect your assets, and create lasting wealth with asset protection attorney and long-time real estate investor, Scott Royal Smith. When a close friend lost over $3 million in a single lawsuit, Scott decided to leave his litigation practice to help people protect themselves from frivolous lawsuits. His law firm, Royal Legal Solutions, now helps thousands of real estate investors and entrepreneurs protect more than $1.2 billion in assets. Join Scott as he deconstructs the lawsuit game and shows you how to protect yourself and your hard-earned wealth.MEET THE HOSTSScott Royal Smith, Esq., CEO, Real Estate Investor. As the founder of Royal Legal Solutions, I am an asset protection attorney and long-time real estate investor in every asset class in 10+ states. My background in litigation and investing uniquely has provided me with insights into how to best use the law for maximum legal advantage while streamlining operations, taxes, and compliance.Megan Templeton, Esq. Megan Templeton is from Birmingham, Alabama. She attended Auburn University and graduated in three years with a Bachelor's in Psychology. While attending Auburn University, Megan was actively involved in the Auburn Honors College and Omega Phi Alpha, a service sorority. Upon graduation from Auburn University, she pursued her Juris Doctorate from Samford University's Cumberland School of Law and her Master's of Public Administration from the University of Alabama at Birmingham. Megan obtained both her JD and MPA in December 2015. Megan's previous law positions have included clerk at the U.S. Attorney's Office of the Northern District of Alabama, manager of a closing and title company, and currently the owner and principal attorney of Iron City Law, a boutique law firm in Birmingham, AL serving small businesses and the real estate community.KEY TAKEAWAYSWhat are the key benefits of using the Series LLC structure? The Series LLC simplifies operations, promotes growth, and serves to protect assets. It is infinitely scalable, yet only requires one bank account, one set of records, and one entity to form and maintain.How does the Series LLC provide Asset Protection? Asset protection is achieved through the separation of assets, which the Series LLC accomplishes combined with a Land Trust that brings anonymity.What if my state doesn't have the Series LLC? You can form the Series LLC in one state and use it in another because of the Full Faith and Credit Clause in the US Constitution. This means that the Series LLC is recognized in all states.Want a refresher or to see what you missed? Watch the replay.REGISTER FOR ROYAL INVESTING and attend LIVE on Zoom, Wednesdays at 11:30 p.m. CST.Ready to go beyond basics and take your education to the next level? Get FREE Access to the Asset Protection Vault. This resource contains our top 5 video Masterclasses and ebooks.WEBSITE: http://royallegalsolutions.comLINKEDIN: Check out what folks are saying and make a professional connection with Scott Royal Smith https://www.linkedin.com/in/scott-royal-smith/FACEBOOK: Join our exclusive group to discover the tax, legal, & asset protection secrets every real estate investor needs to know. https://www.facebook.com/groups/495820367909918/

What is the difference between a will and a trust? Find out on the difference on today's episode as well as the importance of an estate planning attorney.   TIMESTAMPS:  0:35 – Meet Jeremy 2:06 – Focusing on estate planning 2:55 – Will vs. trust 4:00 – Levels of probate 5:21 – Higher net worth 10:40 – Asset protection trusts 14:30 – LLC vs. Series LLC   MORE INFORMATION:  https://www.cornerstonevegas.com/cornerstone-retirement-podcast/

Why an Operating Agreement is Important?What is a Series LLC?What is a Cell?How to Limit Liability?

On today's episode of The Real Estate Nerds Podcast, Jason Hartman joins our intrepid host and attorney Scott Smith take an inside look at what a conversation between a seasoned real estate professional and asset protection attorney actually looks like. Jason has been involved in over 1,000 transactions, and because of that alone, has been involved in lawsuits. Tune in to hear a fascinating discussion between two high level professionals, effectively giving you a peek inside their world.Listen To Episode 32 of The Real Estate Nerds Podcast NowJason Hartman and Scott Smith on Asset Protection for Real Estate InvestorsJason sits down with Scott to discuss his background for context on their legal discussion. The two investors share some realities about lawsuits and asset protection in a lively question-and-answer format.[2:00] Jason began investing in his first year of college and has over 30 years of investing under his belt. He is now considered the most expert on his niche. [03:12] The two investors dive right into a discussion of litigation, liability, and the world of real estate lawsuits. “Liability doesn't come from where you think it does,” Jason explains, pointing out that he hasn't handled disgruntled tenants but has instead had to initiate litigation against representatives stealing client lists and other less expected legal clashes.Jason shares about litigation from the plaintiff side, explaining most investors don't understand the liability and risks of being a plaintiff. He is blunt about the obligations of attorneys: “When your lawyer doesn't do their job, you can get in trouble. It's amazing how much liability a bad lawyer can create for you.”[6:00] Jason brings up compartmentalization in the context of the Series LLC. Scott points out additional benefits “You can create one company that can have as many “children” as it wants. The children all have full liability protections...You have an infinitely scalable design that makes a lot of sense for real estate investors above everybody else.” He also points out the fatal flaw of holding multiple assets inside of a Traditional LLC, as well as the fact that there are no additional costs for operating the far more effective Series LLC.[8:31]Scott shares his top picks for the best states for forming a Series LLC: Texas, Delaware, and Nevada for their strong asset protection laws. Wyoming has strong asset protection laws, but no formal Series LLC legislation or options yet. Fortunately, investors from any state can take advantage of the Series LLC.[9:30] Scott discusses how easy it is to create a new child series, or company, in minutes for free on your Another FAQ Jason presents: Do you need separate bank accounts for each series to remain protected from merging? Scott's answer--and insider tip on avoiding comingling easily through simple banking and bookkeeping--may surprise you. He offers a method for using a Series LLC with a single bank account.[13:50] “I spent the first half of his career, creating wealth. Now I spend most of my time managing it,” Jason tells Scott. Jason shares some of the challenges he has experienced. He brings up banking regulations and the real-life impact of legislation such as the Patriot Act. Managing entities can be equally complicated, but he is interested in the Series LLC because it makes it easy to manage your real estate business. He asks Scott about which states are the least hassle.[15:27]Scott confirms that he uses Texas Series LLCs in part because there are no ongoing fees, and only a single filing declaring “no taxes due” annually. There are no tax obligations beneath the first million dollars worth of income, which can be “chopped into entities to spread out anyway.” Scott's firm, Royal Legal Solutions, also provides compliance and check-ups to asset protection plan and follows current evolving law for a flat fee. In addition to creating Series LLCs, Royal Legal Solutions gives clients the option of outsourcing maintenance. Scott has built up the Royal Legal Solutions staff to be as authoritative on these structures as he is.[18:00] Jason asks if the Series LLC is a common starting point for his clients' asset protection plans. Scott states that for most investors, he uses a two company structure: a Traditional LLC operating company and a Series LLC as an asset-holding company that does absolutely no operations. The liability is insulated within the Traditional LLC, which owns nothing at all. Because an effective Series LLC is an asset-holding company alone, it does no business with the public to perfectly separate legal liability from the assets themselves. He advises doing all business with the public “If anyone sues you, the either get blocked by the shell corporation or the problems of suing you personally, because you have nothing to take.” Jason asks if this means the Series LLC is a special purpose vehicle. Scott quickly recaps: “A shell corporation is an entity that handles operations but doesn't own anything.”[22:03] Scott mentions how these companies are technically owned by the investor's estate plan in the form of an estate plan, that keeps your estate plan up to date as well as offering yet another layer of asset protection. Further, the investor's assets won't get caught up in probate court in the event of their passing. Scott clarifies the difference between a living trust, which does not protect assets, and a land trust which does protect assets when used with the Series LLC. He also points out the value of using anonymous trust structures to create anonymity for the investor. The way Scott sets up these anonymous land trusts also happens to be protected by attorney-client privilege, further preserving the client's anonymity. The two investors touch on some other issues about trusts, including the benefit of pass-through tax treatment. [26:45] Scott redirects the focus onto how Jason addresses his legal strategy. Jason advises investors to “Really pay attention to insurance.” He highlights the importance of good insurance, vigilance about how insurance companies operate, and maintaining anonymity. He also gives an example of unexpected liability when he brought an action against a seller who defaulted on their contract. “I love the law,” Jason states sincerely, “but these arbitrations operate outside of the law. That's what's really scary about it. They're a private kangaroo court with no public record.” Jason's own arbitrator had a massive conflict of interest which he failed to disclose. Jason lost the arbitration but a judgment was issued--against him, complete with trumped-up legal bills. [31:00] Jason ended up taking his conflict-of-interest case against his arbitrator, who essentially represented the opposing side. He also shares about an alarming discussion he had with their collection attorney who knew the exact balance of a bank account the attorney couldn't touch.[33:00] Scott shares a brutal reality of the business of lawsuits. “People think lawsuits are about truth and honesty. Throw that way out the window. They're 100% about who has what information and leverage.”[34:00] Jason mentions his effort to help investors resolve disputes while staying out of court and arbitration--totally free of charge. It's called FreeCourt.com, and is free for anyone to use. The system uses anyone who wants to participate in a crowd-jury, rather than a conventional jury.

We're kicking off season 3 with Bonnie Galam of Landlord Law School™! Bonnie became interested in real estate investing during law school, and now self-manages 100+ units with her husband, along with her own firm, podcast, and website, offering templates and trainings for new investors. WHEW...its not clear when she sleeps. We talk about her journey into investing and using the BRRR (buy, rehab, rent, refinance, repeat) strategy. Though we both agree it feels like everyone and their mother is getting into real estate, we know there are still deals to be found! I ask Bonnie what its really like working primarily with student housing: Do the tenants pay their rent? Is everything just always covered in beer? But it sounds like student housing isn't as intimating as I thought (although wood floors are a MUST). I have a list of legal questions for Bonnie including: - “I just went online and formed my own LLC…is that terrifying?” -Do you need an LLC per property? -When's the best time to form your LLC? -How should I tighten up my lease terms? We take a deep dive into LLCs and I ask her about the Series LLC. Bonnie teaches offensive asset protection methods, like getting everything in writing, good contracts, estate planning, etc. I learn that you can often get lease templates from attorneys and its more cost effective than having your attorney look at your existing lease. Every year Bonnie does an “asset protection self-audit” and asks herself “What didn't work this year? How can I tighten up my lease to prevent this going forward?”. Bonnie is a wealth of information and offers so much information through her podcast, website and her Landlord Law School™ included in the links below. I have a feeling you'll want to listen to this one and take notes! I feel smarter now after recording this podcast with such as fellow boss lady, love her and some killer #lawyershit Find Bonnie: https://www.bonniegalam.com/ podcast: Good Bones Real Estate Investing Tools Mentioned: https://kajabi.com/ www.avail.co www.appfolio.com www.anchor.com --- Support this podcast: https://anchor.fm/nerdsguidetofi/support

#13: Blaise Regan - Recaps the Best Tips from the Last Four Guests; On the Pitfall of Buying a Home with your Boyfriend/Girlfriend; On the Pros and Cons a Series LLC; On the Importance of Having a Will if you Own a Ranch, Farm, or Business; On Picking a Good Contractors; Keeping Track of Inventory from Day One

https://www.biggerpockets.com/blog/holding-company-vs-series-llc

Series LLCs can be a confusing topic. If you want to learn more about Series LLCs and how they work, one of the best experts in the industry is Scott Smith from Royal Legal Solutions. Scott joined us in the Financial Freedom Academy private group to discuss the benefits of using Series LLCs for real estate investing. On this episode of Investing in Real Estate, Scott is sharing a full rundown of Series LLCs and how they work for real estate investors. You're going to hear Scott answer FFA group members' questions about legal protection, how a Series LLC holds up in court, and so much more!

Brett sits down and discusses with expert real estate attorney Mathew Griffith about the Benefits of Creating and using a series LLC for your real estate business. We talk bout all the pros, the cons, how to structure it, and if there is a reason to not ever use a series LLC. This is a new concept even for me, so sit back and hold on tight while your mind gets blown.

Brett sits down and discusses with expert real estate attorney Mathew Griffith about the Benefits of Creating and using a series LLC for your real estate business. We talk bout all the pros, the cons, how to structure it, and if there is a reason to not ever use a series LLC. This is a new concept even for me, so sit back and hold on tight while your mind gets blown.

The Three B's discuss some of the key considerations in an LLC Operating Agreement.  

Effective asset protection is critical to your long-term real estate investing success.  But most investors think that LLCs are the only way to set up asset protection.  In today's podcast,  real estate investor and and asset protection attorney Scott Smith shares how Land Trusts, in combination with a Series LLC, is the most cost-effective and best protection for your investment properties. For complete show notes go to http://olddawgsreinetwork.com/495-what-is-a-land-trust/ IF YOU LIKED THIS PODCAST, we would love if you would go iTunes or Apple Podcasts and Subscribe, Rate & Review our podcast.  This will greatly help in sharing this podcast with others seeking to learn.

The Real Estate CPA podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax dvice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests. Always consult your own tax, legal, and accounting advisors before engaging in any transaction. -- Johnny Merritt is a partner at Hajjar Peters LLP and an attorney with over three decades of experience in complex corporate and real estate matters. He has been a transactional attorney for more than 20 years, concentrating in ongoing business operations, organizational structuring, mergers and acquisitions as well as real estate purchases, sales and development. In today's episode, we discuss Series LLCs in the State of Texas, why you should work with an attorney for entity structuring rather than doing it yourself, how the Texas real estate market was impacted by COVID-19, lease agreements, and more! Learn more about Johnny and his work: https://johnnymerritt.com/ and https://legalstrategy.com/ Join our Facebook group, the one-stop shop for real estate investors to learn about tax strategy and stay up to date on changing tax laws: www.facebook.com/groups/taxsmartinvestors To download The Real Estate CPA's in-depth guide to qualifying as a real estate professional visit: www.therealestatecpa.com/guide-to-qua…professional For a free consultation from The Real Estate CPA visit www.therealestatecpa.com/become-client Subscribe to our YouTube channel: www.youtube.com/c/therealestatecpa Like us on Facebook www.facebook.com/realestatecpa/

Mark Kohler and Mat Sorensen break down the Series LLC strategy in an easy to understand way. They introduce when a Series LLC should and shouldn't be used, why a business owner should use this strategy, and even how much it can cost. Also, back by popular demand, the Tax and Legal tips are back! Be sure to tune into this week's episode and subscribe to be sure you don't miss any game-changing strategies on building wealth, saving on taxes, and living the American Dream! To listen or search for prior episodes, or sign up for their Weekly Free Newsletter, visit www.mainstreetbusiness.com

The number one concern for all real estate investors is asset protection. We don't work this hard to lose all of our hard-earned money because of a frivolous lawsuit. Yet, obtaining legal advice on asset protection can sometimes seem too expensive. That's exactly what my guest, Scott Smith, thought and built Royal Legal Solutions to help real estate investors protect their assets. Scott is an attorney and a real estate investor himself and has learned that keeping your wealth is just as important as making it. All of his clients are real estate investors, and everything he and his team do is focused on protecting their hard-earned assets. Currently, the firm is protecting $1.2 billion in assets across all 50 states and looking to help as many investors as possible. We will talk about how you should never put your assets in your personal name during today's show but use a Series LLC and Child LLC's for ultimate protection. We discuss real-world real estate investing challenges and how to apply legal solutions to avoid litigation. We also discuss land trust, saving time and money on taxes, and how most real estate investors are under covered. Key InsightsAttorney and real estate investor using the same strategies that the uber-rich do.Making more on his side hustle in real estate than litigationThe spark that started Royal Legal SolutionsThe number one issue Scott solves: What happens if I lose everythingWhen you should start protecting your assets, especially if you are new in the real estate investing game. The cost of getting legal strategies in placeYou don't have to put everything in place simultaneously; you can continue to add on strategies.Real-World Scenario Legal Advice: Protecting several different asset classes of real estate (SFR, multifamily, etc.) held in different LLCsHow to use anonymityHow to defeat those lawsuits before they get to litigationThe game of litigation: how much money do you spend on the front end, and compare it to how much money you can make on the lawsuit Real-World Scenario Legal Advice: Understanding a Series LLC and Child SeriesIsolating assetsThe benefits of using a Series LLCReal-World Scenario Legal Advice: Buying a property subject too, and wrap that note and sell it againIsolating your assetsHow to hold property inside a trustUsing a blind trust for your assetA land trust is a critical component for getting the anonymity to stop the lawsuits before they startTransferring personal assets into a Series LLCHow to use Series LLC and a blind trust so that you can mask owner public recordsHow to disguise the transfer when transferring your assets from your name to land trust within the LLC structureWhen you own assets in your personal name is a target on your backWhy having assets in your name is the biggest risk you're taking98% of lawsuits fail because it's an extortion schemeWhat single-family rental investors and note investors need legallyHow Royal Legal Solutions facilitates financial freedom for investorsHow are real estate investors are under covered legallyThe tax savings using a Series LLC How to migrate a current LLC into a Series LLCReal-World Scenario: How a Series LLC off of a flip saved investor from being sued What Scott is Reading:The Surrender Experiment (Michael Singer)Get in Contact with ScottRoyal Legal SolutionsFree Legal ConsultationTake the Quick Quiz

The number one concern for all real estate investors is asset protection. We don't work this hard to lose all of our hard-earned money because of a frivolous lawsuit. Yet, obtaining legal advice on asset protection can sometimes seem too expensive. That's exactly what my guest, Scott Smith, thought and built Royal Legal Solutions to help real estate investors protect their assets.  Scott is an attorney and a real estate investor himself and has learned that keeping your wealth is just as important as making it. All of his clients are real estate investors, and everything he and his team do is focused on protecting their hard-earned assets. Currently, the firm is protecting $1.2 billion in assets across all 50 states and looking to help as many investors as possible.  We will talk about how you should never put your assets in your personal name during today's show but use a Series LLC and Child LLC's for ultimate protection. We discuss real-world real estate investing challenges and how to apply legal solutions to avoid litigation. We also discuss land trust, saving time and money on taxes, and how most real estate investors are under covered.  Key Insights Attorney and real estate investor using the same strategies that the uber-rich do. Making more on his side hustle in real estate than litigation The spark that started Royal Legal Solutions The number one issue Scott solves: What happens if I lose everything When you should start protecting your assets, especially if you are new in the real estate investing game.  The cost of getting legal strategies in place You don't have to put everything in place simultaneously; you can continue to add on strategies. Real-World Scenario Legal Advice: Protecting several different asset classes of real estate (SFR, multifamily, etc.) held in different LLCs How to use anonymity How to defeat those lawsuits before they get to litigation The game of litigation: how much money do you spend on the front end, and compare it to how much money you can make on the lawsuit  Real-World Scenario Legal Advice: Understanding a Series LLC and Child SeriesIsolating assets The benefits of using a Series LLC Real-World Scenario Legal Advice: Buying a property subject too, and wrap that note and sell it again Isolating your assets How to hold property inside a trust Using a blind trust for your asset A land trust is a critical component for getting the anonymity to stop the lawsuits before they start Transferring personal assets into a Series LLC How to use Series LLC and a blind trust so that you can mask owner public records How to disguise the transfer when transferring your assets from your name to land trust within the LLC structure When you own assets in your personal name is a target on your back Why having assets in your name is the biggest risk you're taking 98% of lawsuits fail because it's an extortion scheme What single-family rental investors and note investors need legally How Royal Legal Solutions facilitates financial freedom for investors How are real estate investors are under covered legally The tax savings using a Series LLC  How to migrate a current LLC into a Series LLC Real-World Scenario: How a Series LLC off of a flip saved investor from being sued  What Scott is Reading: https://www.amazon.com/Surrender-Experiment-Journey-Lifes-Perfection/dp/080414110X/ref=sr_1_1?crid=3VN8O1730OJ6G&dchild=1&keywords=the+surrender+experiment+by+michael+singer&qid=1607700363&sprefix=the+surrend%2Caps%2C327&sr=8-1 (The Surrender Experiment )(Michael Singer) Get in Contact with Scott https://royallegalsolutions.com/ (Royal Legal Solutions) Free Legal Consultation https://rls.clickfunnels.com/freedom-temple-survey?utm_campaign=Appointment%20Setting&utm_source=Website&utm_medium=CTA (Take the Quick Quiz)

Visit our website and follow our social channels, linked below, to learn more and stay connected. Website: https://morrislawcenter.com/ Facebook: https://www.facebook.com/morrislawcenter Instagram: https://www.instagram.com/morrislawcenter/ Twitter: https://twitter.com/MorrisLawCenter Linkedin: https://www.linkedin.com/company/morris-law-center

Scott Smith, the founder of Royal Legal Solutions, was an aggressive litigator. He has first-hand knowledge and experience against tactics of plaintiff's attorneys that wins them lawsuits. He uses this knowledge to help you set up your business and protect your assets. [00:01 – 04:43] Opening Segment I talked briefly about valuable information that you can take advantage of in this episode I introduce my guest, Scott Smith Scott talks a bit about his background and how he got into real estate [04:44 – 19:38] Best Practices for Big Success Attributes that Scott has observed from most successful investors in real estate People that are really strong winners are process-based They focus on foundations for their long-term growth Scott's best practices for protecting your assets for first-time business owners Series LLC “Child Series” Trust structure combined with Series LLC structure Scott's best practices when setting up a structure for maximum tax advantages for investors in the USA Hold your investments in a Series LLC Incorporate S and C corporations based on your income Cross-border partnerships You don't want a one size fits all solution [19:39 – 27:09] Red Flags in Investing Scott walks us through how he goes about different kinds of deal structures How to avoid the red flags that new investors make Don't get excited. Excitement should tell you that something's wrong Always make sure to have a partner Having the right community [27:10 – 30:17] Closing Segment Connect with Scott online! See the links below   Tweetable Quotes: “The thing that separates the winners and the losers is that the people that are really strong winners over time are very process-based people.” – Scott Smith “There is a consistent plan that's appropriate for each person at every single level, and that doesn't change.” – Scott Smith   Resources Mentioned: Series LLC definition Trust definition C Corporation definition S Corporation definition Tax, Legal, & Asset Protection Secrets For Real Estate Investors (Facebook) Real Estate Nerds podcast   You can connect with Scott through their Facebook Page or visit their website https://royallegalsolutions.com/ LEAVE A REVIEW + help someone invest in commercial real estate with confidence by sharing this episode or click here to listen to our previous episodes. Follow The Investing Podcast in all Streaming platforms. Deezer, Apple Podcasts, Google Podcasts, Spotify, or visit our YouTube Channel. Visit my website for more information on my services, new book, and my blog. Follow me on Facebook, Twitter, and Instagram. If you would like to learn more or have some questions, send me an email at shane@shanemelanson.com

IRA Financial's Adam Bergman answers questions about foreign earned income and the Solo 401(k), the Series LLC and whether or not you can contribute to a Solo 401(k) and a SEP IRA at the same time.

This week’s episode of The Crushing Debt Podcast is for our real estate investor listeners. I interview bankruptcy lawyer, asset protection lawyer, and CPA Mark Pierce about asset protection. Mark is a Wyoming attorney who uses Wyoming LLC laws, and asset protection trusts to help his clients avoid liability.  Specifically, we talk about: Advantages and disadvantages to form your LLC in your home state or Wyoming; Wyoming Asset Protection Trust v. Land Trust; Lending and Insurance aspects of the Wyoming Asset Protection Trust; Series LLC; and more. Please contact Mark at MPierce@cloudpeaklaw.com or www.WyomingLLCAttorney.com.  Please also contact our sponsor, Attorneys First Insurance, if you are an attorney or title company interested in malpractice insurance. If you have investment questions for me, you can reach me at Shawn@YesnerLaw.com or www.YesnerLaw.com 

Today's Flash Back Friday comes from Episode 1057 Jason Hartman starts off this backward show with guest Scott, who's an attorney who will be speaking at the upcoming Profits in Paradise about asset protection. The two explore the benefits of a Series LLC and some best practices for asset protection. Then Jason goes solo and discusses where wage growth is happening in the US (and where it's not), and how trade wars and interest rates are connected right now. Key Takeaways: [3:25] What is a Series LLC and how can it benefit a real estate investor? [6:43] The best asset protection you can get defeats lawsuits before they even start [11:45] What kind of things will Scott be presenting in Hawaii? [17:57] The first part of asset protection is financial privacy [20:24] Real wage growth in Hispanic homes was more than 2x other households [25:22] Looking at rent paid like your tenant was your employee [28:18] The only linear market in the top wage increase list is Columbus, OH. [29:40] Trade wars are keeping interest rates lower Website: www.JasonHartman.com Jason Hartman's Alexa Flash Briefing Jason Hartman PropertyCast (Libsyn) Jason Hartman PropertyCast (iTunes)    

Today’s Flash Back Friday comes from Episode 1057 Jason Hartman starts off this backward show with guest Scott, who’s an attorney who will be speaking at the upcoming Profits in Paradise about asset protection. The two explore the benefits of a Series LLC and some best practices for asset protection. Then Jason goes solo and discusses where wage growth is happening in the US (and where it’s not), and how trade wars and interest rates are connected right now. Key Takeaways: [3:25] What is a Series LLC and how can it benefit a real estate investor? [6:43] The best asset protection you can get defeats lawsuits before they even start [11:45] What kind of things will Scott be presenting in Hawaii? [17:57] The first part of asset protection is financial privacy [20:24] Real wage growth in Hispanic homes was more than 2x other households [25:22] Looking at rent paid like your tenant was your employee [28:18] The only linear market in the top wage increase list is Columbus, OH. [29:40] Trade wars are keeping interest rates lower Website: www.JasonHartman.com Jason Hartman’s Alexa Flash Briefing Jason Hartman PropertyCast (Libsyn) Jason Hartman PropertyCast (iTunes)    

This week's guest leaves both Mark & Scott scrambling for the sign-up button after he talks about his unique asset protection strategy—the Series LLC.Scott Smith, founder of Royal Legal Solutions, joins the guys to talk about this strategy that will not only protect your property to the greatest extent possible but also save you money in taxes and state fees.Scott was an aggressive litigator who brought suits against major insurance companies. He knows first-hand the tactics that plaintiff's attorneys use to win lawsuits. He is now combining this knowledge when setting up business structures to protect your assets.Mark describes Scott Smith as a combination of F. Lee Bailey, if he was only interested in protecting assets, and Sam Zell—an amazing real estate investor.Scott fell in love with real estate investing after buying his first property in college to pay off debt. After litigation burn out, Scott went back into real estate investing and learned everything from the ground up.Then, after he had acquired his first 10 properties and had gotten into commercial and multifamily, Scott discovered that a lot of investors were good at finding the deals but knew nothing about how to do taxes, accounting, LLCs or bookkeeping. So he combined his knowledge and experience as a litigator with his knowledge and experience as a real estate investor and started Royal Legal Solutions.Scott's clients range from first time investors to seasoned real estate investors with a broad portfolio of properties.Both Mark & Scott Todd, a little skeptical that this strategy is a good fit for land investors, try to poke holes in it. But, Scott Smith pokes back with a wealth of information that leave both the guys with their minds blown!Today, Scott Smith delves deep into this strategy and why no investor should go without this asset protection!A question that gets asked often in this business is, should I be in an LLC, S Corp, C-Corp?Listen in as Scott Smith answers that question along with:The worst advice he's seen or heard given in setting up business structures and asset protectionWhy the Series LLC is so unheard ofDoes it have the same tax benefits of an LLC structureAnd, so much more!Scott Smith does not hold back as he shares all the details of this unheard of and unique asset protection plan and even shares a “hot secret.” Also, find out how Scott Todd takes this podcast to a creepy level.*We are not responsible for anyone's head that may explode while listening in to today's episode of The Art of Passive Income.TIP OF THE WEEKMark: Join us in our irrational exuberance about Scott Smith and how he's going to protect us. Because literally, he's the only one that we've talked to that has a practical, viable, affordable solution for our needs and that is at RoyalLegalSolutions.com.Scott Todd: Check out Reply.Ninja—a Chrome plugin for inline replies in Gmail.Scott Smith: If you text Royal, R-O-Y-A-L, to 474747, you will get a link to the top 10 things you need to know to protect your assets with Scott's top 10 strategies. If anybody has trouble with text, just email Scott@RoyalLegalSolutions.com and he will send the top 10 along with other resources on how to save money on taxes using 401K.Isn't it time to create passive income so you can work where you want, when you want and with whomever you want?

Schedule your 15-minute call with Anthony or Cameron here:    https://calendly.com/infinitewealth/15mincall Check our on-line course at www.InfiniteWealthCourse.com    In this episode we interview Blake Johnson, Managing Member of Trusted Estate Planning Attorneys. He shares his insights on Nevada Law in regards to Business and Estate Planning as well as his reasons for practicing the Infinite Banking Concept. Here are the list of topics covered in this episode:    Is estate planning only for wealth people?  Ways to avoid probate court  Difference between a living will and a trust  Two main reasons in determining whether you should have a trust or not?  Guardianship over minor children  Life Insurance and Trusts – Should my LI policy be owned by my trust?  Which is best to have as my beneficiary: A trust or an individual?   Estate planning through the ages  How does the level of creditor as well as asset protection of cash value life insurance in the state of Nevada compare with other states?  Nevada Asset Protection Trust: “untouchable for spousal support and child support  Rental Real Estate: Should it be owned in a trust or an LLC?  What is a Series, LLC and should real estate investors use one?  Downside of using a Series LLC?  If I finance a house in my personal name can I move it into an LLC?  How his internship at NW Mutual introduced him to the financial industry and how this played into his decision to practice the Infinite Banking Strategy.     Resources:  Blake's website: https://trustedepa.com/  Blake's Podcast Link: https://trustedepa.com/podcast/  Blake's Book: https://www.amazon.com/You-Cant-Take-Planning-Questions/dp/1544707096  Your cash value is protected in Nevada SB348: https://www.leg.state.nv.us/Session/76th2011/Bills/SB/SB348.pdf  List of asset protection by state for Cash Value Life Insurance: https://www.actec.org/assets/1/6/Survey_of_Asset_Protection_Techniques.pdf  Tax Free Wealth by Tom Wheelwright, CPA: https://www.amazon.com/Tax-Free-Wealth-Permanently-Lowering-Advisors/dp/1937832058  The Obstacle is the Way: https://www.amazon.com/Obstacle-Way-Timeless-Turning-Triumph/dp/1591846358   

ESTATE PLANNING - HOME PROTECTION - TITLE - TRUSTS - HOMESTEADS - PROBATE *** THE MASSI MEMO with ROBERT MASSI - 1ST & 3RD FRIDAYS of EVERY MONTH *** When you think ESTATE…do you think mansions & money? Think again.  The real definition = “all the money and property owned by a particular person”…that means everyone who’s reading this.  Robert simplifies what Estate Planning is really all about & explains why everyone needs a trust – even if you don’t own a home!  He also discusses Homesteads, Probate, Series LLC’s and much more. It’s a new way to look at “CYA” & one of the most important shows you should listen to! Everything Home...the Transformational Show where we talk about LIFE * STUFF * BALANCE & promote Good People, doing Good Business & Good Things! PLEASE VISIT: www.EverythingHomeTalkShow.com For Robert's information and all of our Guests & Experts' episodes - IT'S TIME TO ENHANCE THE QUALITY OF YOUR LIFE! LISTEN, SUBSCRIBE, LIKE & FOLLOW: with Host Michele Swinick - Great Guests, Giveaways & a Ginormous Resource of FREE Information for EVERYTHING HOME!  WHAT'S YOUR 7-MINUTE STORY TO SHARE?  It's time you let the world know who you are, what you do & most importantly...WHY you do it!  WE'RE HERE TO HELP MAKE THAT HAPPEN... http://www.BeTheExpertExperience.com

Gaylene Lonergan, with Lonergan Law Firm, is on the show with Abhi to bring a helpful perspective into the real estate law world. She offers advice to new investors and explains why she likes working with newer investors so she can guide them in the right direction. Gaylene gets into probate law and gives a different perspective on the legalities behind it. It is so important to get in touch with your lawyer prior to any probate real estate deals. It could be a relatively easy process, but if there is no will or if there are multiple family members involved, it could be a complicated situation. They get into the Series LLC, trends in real estate, common issues she sees in real estate law and more! Curious when you should actually hire a real estate lawyer? Gaylene gives some friendly insight so you can be prepared if the time ever comes where you need to talk to a lawyer. For new investors, a consultation with an attorney to explain your goals and objectives would be helpful so that they can guide you on the legalities behind next steps you should take. Tune in now to understand real estate law! Give Gaylene and her team a call at 214-503-7509 or visit her website at www.LonerganLaw.com

In this week's episode of The Crushing Debt Podcast, we talk to our friend and fellow attorney Scott Smith with Royal Legal Solutions, and host of the Real Estate Nerds podcast. Scott and I discuss asset protection issues for real estate investors, but could be used by any business owner, entrepreneur, or solopreneur. Specifically we talk about: - Business owner protecting themselves from frivolous lawsuits. - How a business owner can quickly implement asset protection. - Top techniques for asset protection. - Pros and cons of insurance protection. - Series LLC protection. Text "Royal" to 474747 to get Scott's Top 10 things you need to know about asset protection.  Visit his website, www.RoyalLegalSolutions.com. Also subscribe to his show, Real Estate Nerds, available on all major podcast players. If you're located in Florida and have specific asset protection questions, please reach out to me at Shawn@YesnerLaw.com or www.YesnerLaw.com. 

What is a Series LLC? Series Limited Liability Company (LLC) is a business entity that was introduced by the State of Delaware nearly nine years ago. The concept is innovative and based on the fact that several series or "cells" may be created within a single LLC. Basically, a Series LLC possesses the ability to divide its assets and liabilities into various sub-LLCs or series while still controlling them from one umbrella company. The closest analogy in the business world would be a corporation with several subsidiaries. What are the advantages of a Series LLC? A Series LLC eliminates the expense and administrative duties related to forming multiple LLCs. A Series LLC is preferred to a corporation with subsidiaries because it does not have the taxation, expense or formalities associated with a parent-and-subsidiary corporate structure. Each cell in a Series LLC has its own profits, losses and liabilities and is legally separate from the other series. These sub-LLCs also have their own economic structures, members, managers and assets. The assets in a sub-LLC are protected from legal enforcement against the assets of another LLC. Another, lesser-known advantage is that a Series LLC may not be required to pay sales tax on rent paid by the operating series. The business must own the real estate and the rent must be paid to the sub-LLC owning the real estate series. In this respect, the Series LLC may also be compared to an S-Corporation with Q-subsidiaries. What States Currently Offer the Series LLC Option? Though Delaware was the first to form the Series LLC, other states are also adopting the practice. Currently, District of Columbia, Illinois, Iowa, Kansas, Minnesota, Montana, Nevada, North Dakota, Oklahoma, Tennessee, Texas, Utah, Wisconsin and Puerto Rico also allow the formation of Series LLC. How to Form a Series LLC Forming a Series LLC is similar to forming an LLC or corporation in any state. Today, only Illinois requires a different application and charges higher registration fees for forming a Series LLC rather than a simple LLC. Once the company is formed with the state, a Series LLC will require some extra documentation compared to an LLC. A 50 or more page Operating Agreement must be prepared to establish a Series LLC. This document must be signed and created according to the rules and regulations governing the Series LLC. In most instances, an attorney is needed to draft the Operating Agreement and an accountant will be needed to explain related tax laws governing the Series LLC. Each sub-LLC will have to create a separate Series Agreement. Each sub-LLC will have its own asset name, bank account and a separate EIN (Federal Tax ID) number. While the Operating Agreement will be amended as series are added or deleted, the Certificate of Formation (also called Articled of Organization) filed with the state does not require amendment. How to Add and Delete a Series https://www.myusacorporation.eu/series-llc.html

In this episode, I interview Asset Protection Attorney Scott Smith from Royal Legal Solutions about Series LLC’s.  I first learned of these by doing business with Paige Panzarello in the note investing space.  One of the big reasons they became popular over the years is to help California residents avoid paying ridiculous taxes levied by the State of California. We went on to discuss the differences between asset protection and anonymity and the benefits of having a blended approach to best protect your holdings from prying eyes.  Scott also covered Land Trusts as Larry Harbolt teaches and shed light on other strategies that investors can use to best protect themselves from unfair lawsuits.

Jason Hartman starts off this backward show with guest Scott, who's an attorney who will be speaking at the upcoming Profits in Paradise about asset protection. The two explore the benefits of a Series LLC and some best practices for asset protection. Then Jason goes solo and discusses where wage growth is happening in the US (and where it's not), and how trade wars and interest rates are connected right now. Key Takeaways: [3:25] What is a Series LLC and how can it benefit a real estate investor? [6:43] The best asset protection you can get defeats lawsuits before they even start [11:45] What kind of things will Scott be presenting in Hawaii? [17:57] The first part of asset protection is financial privacy [20:24] Real wage growth in Hispanic homes was more than 2x other households [25:22] Looking at rent paid like your tenant was your employee [28:18] The only linear market in the top wage increase list is Colombus, OH. [29:40] Trade wars are keeping interest rates lower Website: www.JasonHartman.com/Properties Profits in Paradise Jason Hartman's Alexa Flash Briefing The PropertyCast

Listen to this episode with Scott Smith to learn how to protect your assets in a lawsuit.  Scott is the owner of Royal Legal Solutions, one of the top asset protection companies for real estate investors in the country. He works with clients who want to grow their businesses and protect their hard-earned assets. He is a regular expert contributor to BiggerPockets.com and is writing an eBook on asset protection strategies to help educate the public.  In this interview, he shares the benefits of solo 401Ks, shell companies, and Series LLC.  Catch his new podcast, Real Estate Nerds Podcast, starting 9/1/18.

Listen to this episode with Scott Smith to learn how to protect your assets in a lawsuit.  Scott is the owner of Royal Legal Solutions, one of the top asset protection companies for real estate investors in the country. He works with clients who want to grow their businesses and protect their hard-earned assets. He is a regular expert contributor to BiggerPockets.com and is writing an eBook on asset protection strategies to help educate the public.  In this interview, he shares the benefits of solo 401Ks, shell companies, and Series LLC.  Catch his new podcast, Real Estate Nerds Podcast, starting 9/1/18.

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.   Where we are: Johnny - Ukraine Sam - Florida   Links: Royallegalsolutions.com   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.

Today's Flash Back Friday comes from Episode 610, originally published in December 2015. Our Meet the Masters of Income Property event is coming up soon and to start prepping for the affair Garrett Sutton introduces us to his topic of discussion for the event, asset protection. We talk about his new book and strategies for protecting your assets. During the guest interview, Emily Filloramo helps us to unlock the fear and shame which may be holding us back from being the best we can be. She describes how childhood traumas may have a lasting effect in our business and personal lives. We need to recognize our negative self-talk and analyze our personal protective systems. Key Takeaways: Garrett Sutton Intro: [2:23] Asset protection advice from someone who knows the business [4:09] The State of California is the worst place to do business in the U.S. [7:11] What is your asset protection strategy? [8:47] Series LLC's [10:16] Garrett has 10 books including 6 in the Rich Dad Advisor series and his new book [12:04] Meet the Masters of Income Property, extra tickets are available [13:04] Venture Alliance Mastermind meeting is in Dubai - Get your tickets now Emily Filloramo Guest Interview: [15:00] Pieces of ourselves which hold us back [17:27] Going deeper to identify the part of you which is afraid of success [18:52] People live through a mask especially in their 20's and 30's [21:15] Feeling shame and not belonging at a young age [23:47] Arrogance is a sign people are hiding shame [25:18] Understanding psycho-spiritual healing [28:44] Is it safe for you to reach a goal is a question which identifies negative self-talk [31:07] A Nelson Mandela quote [33:05] Self-sabotage in the face of fear [36:36] Analyzing your protective system [40:41] Contact information for Emily Mentions: Garrett Sutton Finance your own Business - Garrett Sutton Jason Hartman Venture Alliance Mastermind How to Permanently Erase Negative Self-Talk So You Can Be Extraordinary Be More Extraordinary Emily@bemoreextraordinary.com

The Series LLC is getting more and more popular and valid now in over 15 states. The question is whether this is a good strategy for You! Join Mark and Mat as they break down the pros and cons of the Series LLC and how you may be able to put one to use in your asset protection plan.http://www.refreshyourwealth.com

The Series LLC is getting more and more popular and valid now in over 15 states. The question is whether this is a good strategy for You! Join Mark and Mat as they break down the pros and cons of the Series LLC and how you may be able to put one to use in your asset protection plan.http://www.refreshyourwealth.com

Our Meet the Masters of Income Property event is coming up soon and to start prepping for the affair Garrett Sutton introduces us to his topic of discussion for the event, asset protection. We talk about his new book and strategies for protecting your assets. During the guest interview, Emily Filloramo helps us to unlock the fear and shame which may be holding us back from being the best we can be. She describes how childhood traumas may have a lasting effect in our business and personal lives. We need to recognize our negative self-talk and analyze our personal protective systems.   Key Takeaways: Garrett Sutton Intro: [2:23] Asset protection advice from someone who knows the business [4:09] The State of California is the worst place to do business in the U.S. [7:11] What is your asset protection strategy? [8:47] Series LLC's [10:16] Garrett has 10 books including 6 in the Rich Dad Advisor series and his new book [12:04] Meet the Masters of Income Property, extra tickets are available [13:04] Venture Alliance Mastermind meeting is in Dubai - Get your tickets now   Emily Filloramo Guest Interview: [15:00] Pieces of ourselves which hold us back [17:27] Going deeper to identify the part of you which is afraid of success [18:52] People live through a mask especially in their 20's and 30's [21:15] Feeling shame and not belonging at a young age [23:47] Arrogance is a sign people are hiding shame [25:18] Understanding psycho-spiritual healing [28:44] Is it safe for you to reach a goal is a question which identifies negative self-talk [31:07] A Nelson Mandela quote [33:05] Self-sabotage in the face of fear [36:36] Analyzing your protective system [40:41] Contact information for Emily   Mentions: Garrett Sutton Finance your own Business - Garrett Sutton Jason Hartman Venture Alliance Mastermind How to Permanently Erase Negative Self-Talk So You Can Be Extraordinary Be More Extraordinary Emily@bemoreextraordinary.com

What is a SERIES LLC, and why are self-directed investors so excited about this new legal structure?  I’m Bryan Ellis.  I’ll tell you the good AND the bad about Series LLC’s right now in Episode #134.-----Hello, SDI Nation!  Welcome to the PODCAST of RECORD for savvy self-directed investors like you!So have you heard of it?  This thing called a “series LLC”?  It’s a relatively new type of legal structure that offers the flexibility of multiple legal entities in one, in a manner of speaking.So, for example, let’s say you create a new LLC called SDI LLC and you register it as a “Series” LLC.  What this means is that by creating that one entity, you have actually created a virtually unlimited number of entities because you can then, without paying additional registration fees, create additional entities such as SDI Series 1 LLC, SDI Series 2 LLC, SDI Series 3 LLC, etc…Now here’s what’s cool about that… the governing law for this type of structure explicitly states that, in the eyes of the law, that each of those series are SEPARATE business entities.  This means that, each separate series you establish of that LLC has separate TAX liability, separate LEGAL liability, an entirely distinct LEGAL identity… even though you don’t have to pay additional fees to register the additional series after the first one.That has some real relevance for me and you as Self Directed Investors.  Here’s why:  Let’s think about this in the context of real estate.Let’s imagine you have 15 different pieces of property.  Some are residential, some are raw land, some are commercial.  But you have 15 different pieces, and they’re all owned by your IRA.And one day, somebody slips and falls on one of your properties – let’s just say it’s property #7, a nice little house on Main Street – and they’re seriously injured.  They’re going to sue everyone with any connection to that property, which will quite surely include your IRA as owner of the property.What happens if they win?  What happens if they get $5,000,000 judgment against your IRA?  Well, what will happen is that they’ll be able to, in one way or another, take away not just the property on Main Street where the accident happened, but all of the others as well, until their $5M judgement is satisfied.  That’s because, in the eyes of the law, those assets have the same owner, and it’s THAT owner – your IRA – that must satisfy the judgment.  In one fell swoop, your IRA is now worthless.Just as an aside, I know that some of you are thinking that your IRA provides protection against lawsuits, so you need not be concerned.  That’s not really true, folks.  If you PERSONALLY were sued and lost, then there IS some protection for your IRA in that kind of situation.  But that’s not what we’re talking about.  We’re talking about YOUR IRA being sued because IT is the owner of this property, and not you personally.  In that case, the assets of the IRA are up for grabs if it loses the lawsuit.And that’s where a Series LLC might come into play.  The way some people are using these things is that they’re setting up a Series LLC that’s owned by their IRA, and then they’re creating a separate series of that LLC – essentially a separate business – to own each piece of their property.The theory there works like this:  Instead of your IRA owning 15 separate properties, it owns a series LLC with 15 separate series, each of which contains one piece of property, including that infamous property #7, the nice little house on Main Street.  And when there’s an injury on that property that results in a lawsuit with a $5M judgement, things work out a little differently this time because Property #7 is not actually owned by your IRA directly.  Instead, it’s owned by SDI Series 7 LLC.  And since that house is the only thing owned by SDI Series 7 LLC – because every other property is in a different Series of SDI LLC – then you still take a hit… but it’s only against Property #7.  All of the other properties are safe, being legally separate from the one asset where there’s a big judgment.Sounds pretty good, doesn’t it?  I’ll admit, the theory is extremely attractive.But don’t do it, folks.  At least, not right now.  Here’s why:The fact is that Series LLC’s are just too new from a legal perspective.  There’s not enough case law to predict what’s going to happen when you’re actually on the other end of a lawsuit or a bankruptcy or a tax audit.  The uncertainty factor is stratospherically high.In fact, as of this time, only 13 states plus the District of Columbia and Puerto Rico even offer Series LLC’s.  And those states don’t use the same law.  For example, in some states, like Nevada, you can add as many series to your LLC as you want at no additional cost.  But in other states, you actually have to pay additional fees for each series.But the real question is in the states where there are no Series LLC laws.  What you really can’t predict is whether each Series will be considered as a legally separate entity in those states.  And even if you only do business in a state where there IS series LLC legislation, the reality is that it’s still entirely possible you could face legal action out of state from a vendor or from a person living in another state who just passes through your area.And it’s more than that.  Try opening a bank account for a Series LLC in a state where these entities are not yet common.  You’ll find it’s not a simple task.Now folks, I’m not a lawyer.  And I don’t play one on TV.  But even to my simple mind, this Series LLC thing just doesn’t add up.  From where I sit, the only real advantage to it… sometimes, not all the time, but sometimes… is that you might get to form multiple entities without paying additional registration fees.  Again, that’s not true in every state, so even that advantage is questionable.Other than that, I see no clear advantage.  And one huge disadvantage:  No legal history.30 years ago, nobody wanted to use traditional LLC’s because there was no case law for them at that time, either.  But that’s certainly changed, and traditional LLC’s are now a very common and reliable business structure, with plenty of case law to support them.  So maybe case law will catch up, and the Series LLC will become a viable and solid structure like the normal LLC.Unil then, may I make a suggestion?  Leave the Series LLC to the trailblazers.  Let them get the arrows in the back.  But you, you have two options:One is to just use as many different traditional LLC’s as is necessary to own your various properties.  That’s one option that can certainly work, though it’s a huge pain in the rear in terms of organization and compliance.  A real pain in the rear to be sure.So what’s a better option?  Well, my friends, there’s a strategy for protecting your properties that I absolutely LOVE… and it’s simple!  It requires only 2 LLC’s or other legal structures of your choice, no matter how many properties you own now or in the future.  So it’s very simple, and it’s also very, very simple to maintain.Want to know more about it?  I’m happy to share that info with you.  Later THIS WEEK, I’m releasing a brand new e-Book called “The Portfolio Fortress:  How To Keep Your Wealth Out Of The Hands Of Legal Predators”.  And it will tell you all about this great strategy that’s SIMPLE, SAFE and STRONG.Now, my friends, this is really only intended for those of you at least 3-5 properties or more.  And if that describes you, I really want you to have it.And I’ll not charge you a single dollar for it.  I want you to have it.  I want your assets to be kept safe!  So if you’d like the e-Book and you own at least 3 properties, you can get it at no cost by texting the word FORTRESS to 33444 right now.  Again, just text the word FORTRESS to 33444 right now.  If text doesn’t work for you for some reason, you can email me at feedback@sdiradio.com.  Again, it’ll be released later this week, and until then, I’m offering it as a free gift to listeners of this show. Thanks for listening, and remember:  Invest wisely today, and live well forever! See acast.com/privacy for privacy and opt-out information.

A series LLC is a type of LLC that creates separate compartments or cells (a “series”) for partitioning and owning separate assets and associated liabilities under one LLC.  This entity has been authorized in Illinois since 2005 but remains little understood.  This podcast will shed some light on the uses and functioning of a series LLC.