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00:00:03 what most people think after looking on the Internet is that somehow you can sequester all your assets and protect them from all your creditors forever doesn’t work that way there are ways you can do that and come close to that by using trust in Wyoming or Alaska and some other states but once people see the limits that are put on them when they put their Assets in that kind of trust they say no I don’t want to do that so the real answer there is first of all isolate those risk taking activities that you have into another
00:00:38 entity like an LLC or a corporation so if you’ve got rental real estate and you’re afraid tenants might sue you great put it in an LLC respect the LLC and the odds are very good that a court ultimately is not going to allow someone to come after your personal assets they’ll limit the recovery to the assets in the LLC and then what you do is you buy proper insurance insurance on the property in the LLC and then you buy an umbrella policy for yourself so if it does come outside of the LLC and you’re
00:01:12 attacked you’ve got a million or two additional coverage to handle that problem so if you have more questions about how to protect yourself from creditors and judgment creditors particularly give me a call we’ll talk it through no charge for that call and we’ll see if we can help you