The BIG difference between a trust based asset protection plan and an LLC based plan

At some point during a lawsuit, the lawyer suing you is going to want to know what assets they can take from you. You'll have to lay out everything on the table to let them know what you've got to lose.
What will be on that table varies greatly if you have a trust based protection plan or an LLC based plan.
#assetprotection
#offshoretrust
#llc

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DISCLAIMER: In case it's not obvious, watching this video did not create an attorney client relationship with LayRoots or any of its lawyers. Don't rely on this information you found on YouTube as legal advice. Do we really have to write that these days? Has it come to this?

[LawyerHumans]

🎯 Key Takeaways for quick navigation:

00:00 🏛️ Trust-based and LLC-based asset protection plans differ significantly.
01:03 📜 Creditors often seek information on your assets early in a lawsuit.
03:33 🏢 Using LLCs to protect assets still leaves vulnerabilities.
05:50 📑 Trusts can sever the link between you and the assets, providing protection.
07:23 💰 A "cleared table" with a trust-based plan gives you leverage in legal situations.

[katrinajohnson]

The visuals are very helpful. I am about to start a business, from this video I think it should be an LLC that is owned by a trust. So I guess that means I need to set up the Trust, then the LLC? I just don't want anyone to know that I own the business, but I still want to be able to make all the decisions at the company.

[headlibrarian]

My understanding is asset discovery is not obligatory prior to the awarding of a judgment. Are you saying judges are allowing obligatory asset discovery before the trial even starts? That’s seriously whacko if so.

[blplovinglife]

Thank you very much. Excellent information!

[cw]

Thanks for the excellent presentation.

[mia]

Is it any trust or does it have to be an irrevocable trust?

[tonyalester]

Thank you so much. Great explanation ❤️✨🙌🏾

[littlestockguys]

love it bro! good vid please keep it up

[dcpugh]

In this example, does the trust have to be irrovocable?

[levon]

Great information but your props are more distracting than helpful, a chart would make more sense. Just friendly feedback, a good video.

[sabinehalfhill]

What if there is a mortgage on the property?

[dman]

Thanks so much for this video, this one is just as helpful as all your others. One question...can you transfer your LLC to a revocable trust by way of an assignment?

[youtubemaster]

My ssn is an asset and not “me” as the ‘natural person”, correct? So can I put the ssn “me” as the holder of that corporation into a trust, making it invisible?

[markcolaci]

Question: was this a revocable living trust or irrevocable trust you are referencing?

[kima]

Would a Family LLC be any different for liability?

[kanupatel]

Thanks, good info! Can you create LLC on rental property still have mortgage ?

[cpg]

1 - what makes a trust document legal?
i thought that as long as it is clear as to what it contains (as assets/liabilities) and who is the controllers (trustees) - then it is legal in nature (and useable in court)
what else is needed - a notary, maybe - that can endorse the trusts wording/structure - and it ability to function
i guess this is not a legal requirement - but is for piece of mind Only

2 - can the trust be disbanded - before the settlor dies?
So that the assets can be returned to the settlor in the case they do not die?

[invictuslegend]

The "Trust" box you refer, is that a special Assset Protection trust (such as Nevada APT) or something similar or is just a living revocable trust that the average joe sets up or its a irrevocable trust or an offshore trust?

[neeligandhi]

If I don’t legally own the home or other assets then can I still live in the home and how do I continue to use the other assets to live on?

[mrwiseman]

Dude fix your mic can’t understand anything so annoying