In the California case Peake vs. Underwood
, a buyer filed suit two years after purchasing the property stating that the seller had not disclosed the condition of the property when it had been sold. The buyer maintained that both the seller and the listing agent had known that the property had unresolved drainage issues and never told her.
Guess what? The buyer dropped the lawsuit against the seller when she learned that they did not own anything of value. She continued to pursue the listing agent. Why? She was trying to win that “lawsuit lottery” and bluff her way into a settlement – but the sellers had protected themselves. Eventually, the court found her out and ordered her to pay $60,000 in sanctions for the frivolous lawsuits, but who wants to deal with all that silliness? The owners were smart – on paper they didn’t have anything worth suing for.
Now plenty of smart lawyers and accountants can build up a whole façade of protection that would take 4 private investigators and 6 computers to figure out, but in the end, nobody really knows who owns the property in question. Here’s a hint – if you can’t explain it, it won’t work!
Many asset protection plans that folks try to sell become so complicated that not even the client can explain how assets are held or how those assets were transferred. The downside is that those questions can be expected in depositions or a discovery examination, and a failure to fully and clearly explain what happened and why will make the court very suspicious and potentially give the court grounds to begin disregarding entities or setting aside transfers. Most judges start asking themselves, “What is really going on here?” if the structure and transfers are too complicated and not well explained.
So to me the answer was simple – build a straightforward system and use the law to protect my wealth … and then, as any good teacher should do, I built a system to train others how they can protect themselves from nuisance suits, too.
I call it my Maximum Asset Shield seminar and in just four days, you will find out how to:
- Protect your assets, properties, and wealth for generations to come.
- Sleep well at night knowing your business - and your family - are safe from frivolous lawsuits.
- Make sure your heirs get what is rightfully theirs - knowing your estate and the assets you’ve worked hard all your life to build won't go to the government or in some attorney's pocket.
Plus, you'll also learn how to use my asset protection strategies to make more money:
- How to get sellers to say "Yes!" to your "Subject-To" offer so you can get more deals done - and prevent them from trying to reclaim YOUR property afterwards.
- How to make more money using partnerships using this fast, simple and LEGAL method.
- How to borrow or lend money without the traditional risks.
- How to buy more properties tax-free!
- How to legally and easily take equity out of a property and turn it into cash – then use that cash to continue to build wealth.
Now, there is one even more important thing that we do in the Maximum Asset Shield workshop: We actually do it right there! Yes, that’s right – we not only show you how to protect yourself and your assets – we will work with you right there to protect them in the workshop! True hands-on training! Bring the deed or the title to the asset you are looking to protect and we will physically show you how to structure that protection on the spot!