We had a great meeting last Thursday. Our first guest speaker, Scott Horan, representing the American Society for Asset Protection, spoke to us about protecting our assets in this litigious society. He said, "One bad lawsuit can mean the end of your business and ruin your life." I've never experienced this, but I sure don't want to. His company is making protecting ourselves just a little bit easier.
I'm posting the outline for last Thursday's meeting as a reminder for those who came and for those of you who weren't able to come, so you could at least see what you missed.
What is Total Asset Protection?
Asset protection is a highly specialized area of law that uses strategies and tools to solve three major problems: lawsuits, taxes, and probate. Total asset protection integrates legal tools and strategies to provide lawsuit protection, tax reduction, and estate planning.
Problem #1: There are over one hundred million lawsuits currently pending in the United States, and it is estimated that a new lawsuit is filed every thirty seconds. It is now routine for judgments to be in the millions. If you are not properly structured, it only takes one lawsuit to lose everything.
Solution #1: We learned on Thursday night how to protect 100% of your professional and personal assets from lawsuits and how to make yourself so unattractive to a plaintiff attorney that they will not pursue a lawsuit against you. It has to do with what he called a Charging Order. Do you have one in your Operating Agreement? Do you even have an Operating Agreement? An Operating Agreement is legally required for your LLC to function correctly even if you are a single member LLC. If you don't have one, the ASAP can help you.
Problem #2: Billions of dollars are overpaid each year in taxes as a result of people not using all the deductions and tax laws available. According to the IRS commissioner, millions of taxpayers are overpaying their taxes each year.
Solution #2: We learned on Thursday night how to reduce your taxes to the legal minimum—
potentially saving you thousands of dollars each year. The ASAP knows the tax reduction strategies used by the nation’s top tax reduction law firms. Are you aware of ALL the deductions a business owner can take to legally reduce their tax liability? There are more ways than you can imagine. The ASAP can show you the complete list and explain how to take advantage of the system already in place that will help you be successful.
Problem #3: The vast majority of Americans either do not have an estate plan or have an
incomplete or ineffective one. If you are one of the many who do not have an effective estate plan, up to 50% of your estate could be lost to probate costs, federal estate taxes and state inheritance taxes.
Solution #3: We learned on Thursday night how to avoid probate, and eliminate or dramatically reduce your estate taxes. We learned what we should be doing now to prepare for successful business and estate succession. The bottom line is... have an Estate PLAN in place BEFORE you die. Your family, partners, and creditors will be glad you did. The ASAP makes this easy and less costly than hiring an attorney.
For more information, please contact Scott Horan at 208-521-6749 or Scott@AmericanSocietyAP.org and tell him that you are a member of SEIREIA. For those who were in attendance at our meeting Thursday, you were offered a discount on the ASAP services. You can also visit their website: