Asset Protection question...

[Sunny Singh]

Remember back in the crash days...circa 2008 - 2010? Who can forget (or at least try to not remember those days) right? lol

I remember talking to a wide array of friends, family and clients who were going through some of the toughest times of their life due to loss of income. The "Great Recession". 

Another thing that has always stuck with me was when I was speaking to higher net worth folks. They werent worried, even when they were more over leveraged than the rest. I had a conversation with 1 high net worth individual, and he was not worried at all....he had an attorney who had restructured his home & personal assets in such a way where his lates, NOD, even foreclosure wouldnt impact him or his credit personally.

Now this was more than 13 years ago, and I myself was going through 1 of the most toughest times in my life. But I promised myself that 1 day I would learn what they did, understand it, & learn it. 

Here's what I think he did - probably migrated his personal into an LLC or Corp, but that still wouldnt block any personal negative impacts from a creditor, since those assets were 1st in his name, right? Pierce the veil so to speak. Would this be a better question to ask an asset protection service or attorney?

With todays economy, who knows what silent storms brewing, and whats to come. Everything is so murky. Posting on here to see if anyone remembers these kind of strategies from the past, or is using these types of strategies now? 

Thanks for reading my 1st post. Looking forward to connecting and growing relationships on BP!