All Forum Posts by: Brian Bradley

Increase your financial IQ and build your team (CPA, Lawyer, Investment Agent) while you look and analyze deals. Talk to investment agents to have them send you deals, start analyzing the deals doing your own number, talk to your CPA about your tax's and your Asset Protection Lawyer to get you set up to limit liability and exposure. If you don't have CPA and Lawyer, start asking for referrals. Best of luck. 

What I have been seeing is that current estate planning is NOT serving modern society and families. An out of control litigious society, and the things that really eat up modern family wealth have nothing to do with what consumers would expect. You'r standard estate plan is still 100 years behind the times, and families have devastating costs due to poor traditional and outdated estate planning that have nothing to do with asset protection. Traditional Estate Planning is Dead! It ignores the things that are destroying families, destroying financial independence, and destroying wealth in modern society. They do nothing to protect family assets from the modern enemies of your legacy.

The idea of a modern estate plan and asset protection plan is to prevent the type of things that can lead to modern wealth erosion and to plan for The Big 4: 1. Litigation Judgments,

2. Devastating Healthcare Expenses,

3. Remarriage after the death of the first spouse, and

4. Your children's own divorce or death before their spouse.

If you noticed, I said nothing about death probate and taxes, unlike most other estate planners focus. This is because death probate and taxes are not what destroys estates anymore in our modern society. The Big 4 do. 

for what? IM me back. Don't talk about legal facts and issues on a public forum. But "We need a real estate lawyer" is very vague. Lots of diff types of lawyers just like medical doctors. 

@Mike Neubauer yes we can. We r setting up trusts and LLCs for AP.

@Mike Neubauer I Just IM you to see if you wanted to discuss further. That way you maintain Attorney Client Privilege without getting to much info about yourself publicly

@Ray Pryer it depends on you. You will be living in it. What can you tolerate or not? I have a doctor friend out of residency who just purchased a brand new townhouse and is househacking it. He wanted to live in a nice place and did not have time to fix a old place up. But he gets great equity and appreciation and lives for free in a new place. Just depends on you and your situation and what you can and can’t deal with.

@Ashish Acharya I saw that you IM me. I’ll reply to you their. I also created a general asset protection forum post for investors beyond the bridge trust.

@Nick Vollrath once you identify the property, then talk to your lawyer or get a Asset Protection Lawyer to then set up your holding company and trust. First identify and get the property under contract as @Jeremy England says, then before it closes, get your structure set up. If you need more on the type of structure and your option etc IM me and we can chat more and go into a more detailed legal discussion of your goals and situation etc. 

You're team should be, you, our investment agent, your CPA and your attorney. You're attorney should be doing this for you as part of his service so it is done correct. 

When looking at asset protection, you will have to distinguish between AP generally and AP structures that are approached from legal versus a tax point of view. A AP Lawyer will be focused on likely courtroom outcomes and avoiding large monetary judgments and protecting non-exempt assets. Approaching entity from a purely tax perspective is a different avenue entirely, that’s for your CPA, who has no experience in courtroom and will lack knowledge concerning the vulnerability of assets. You may end up having to decide where your emphasis is going to be: saving on taxes vs. maximizing protections on the legal side. It’s generally not always feasible to maximize both. Cruise liner vs battle ship? I would build the battle ship since it’s better used against pirates when they come.