Bankrupty court doesn't have the same power over it as if otherwise. Is this an ironclad guarantee? No. It's not going to be the case but having this things in a row and understanding all this pieces will make a huge difference and believe me this is what you want to install in your real estate business and to your LLC.
The reason that most business owners missed in all of this because the costs of putting all of this together is way beyond the reach of most investors. Even you can get help from most attorneys, the big guys that sell the giant $25,000 packages usually they are looking for a lot of fees. Fees for setting this up, fees for making it complicated, fees for maintaining it.
A lady which has a huge elaborate structure setup with all this trusts, LLCs, partnerships. She presented this to me and said
"I like what you are saying but look at how good this is. Look what i have got"
I said
"How much did you pay for this?"
"$20,000"
I said
" I'm gonna ask you one question, who's behind all this. Is there anybody behind it but you. Before you answer you have to think about this. You go inform the judge and your attorney have to tell the judge that there's nobody behind this entire scheme but you"
The judge is gonna laugh, i call this straight face argument because in no way a straight face you could justify that whole setup for any other reasons by keeping creditors out of your business and the judges want to see that fairness is done because if your liable your not going to keep creditors out of things of some crazy hokey structure like that has no reasonable possible justification.
She said
"No, i am the only person behind that"
What if and why after she get sued and goes search adding members. It's us that's basically rewind that tape and take everything back to the way what it was? Absolutely. So that's gonna work either and then sometime the investors will say
"You know what, i will go to the big assets protection guys other than local attorneys"
Guess what? Those Attorneys aren't gonna have the necessary abilities to serve you either because they focus on filing the entity Like somebody who studied and created the car but they never go out and test ride it and see will it crashes. You gotta know where the entities are crashing and you have to come to a place that you are not looking for tryst,fees and setting all this up. You got to come to a very honest place of wanting to give people information. Giving it to them in a way that they can use it without spending hundred and hundreds of hours and thousand and thousand of dollars.
That's where I'm at. Because the truth is most attorneys will look for mistakes after the business entity has filed and in truth that lady that spends all that money to setup that entity i guarantee you, if I'm into of what she did i will find that she messed it up. She didn't have her corporations uncooperative.
Here's the truth. The dominating factor for your protection is YOU and only YOU. So there has to be a new balance here between the high dollar courses and all that mess and fees and all of that huge salesmanship. And then the attorneys that are really making all this money to setup the entity and giving people something that they don't know that really works.
There has to be something that trains the investors could do things the right way. That's why I'm here, and that's what i found that most people are not getting instructions on where the creditors are going in and carrying out the company. Most average attorneys are not studying that. I uncovered it on 2009 -
"28 deadly traps that investors are getting themselves sucked into"
People like my parents were getting sucked into before they learned how to run the entity correctly because the information was not out there. People that i worked for that law firm for a very brief time, they are banking on people like you and people like me and the people that i love. Not knowing this traps.That's why i put this together and that's the most important.
If i fell on the 28 traps that take me hours to go through, there is knowing on this that i will go through in all of them. There's no way that people will fully grasp of it because they are moving too fast. Most people don't realize look investors they personally liable for their own negligence.
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