10 Critical Factors to Lowering Homeowner's Risk

Throughout the years, I’ve learned what my clients do to limit their liability. Here are a few suggestions – I discuss them in detail in this podcast!1. Create a business entity under which your household operates, hires, and manages.2. Hire professionals with industry experience instead of newbies transitioning into these positions.3. Your contractors should provide valid liability and workers’ compensation insurance certificates.4. Increase your own liability insurance and workers’ compensation in case contractors aren’t sufficient.5. Everyone working on your property must sign an NDA.6. Have two safes within your home – one for the principal’s personal and sensitive items and one for the household manager to protect staff-related items.7. Ensure that master suits and no-go areas can be locked up.8. Have a household protocol that outlines operating procedures for staff and contractors.9. Install security cameras that are pointed at essential areas like gates and door entrances.10. Have an external HR company manage employment contracts according to state and federal guidelines.Bottom line - as your wealth grows, so does your liability!Protect your household and estate portfolio by implementing proper protocols.Thanks for listening.For more information, visit our Linktrees:https://linktr.ee/dearbillionairepodcasthttps://linktr.ee/estatemanagementsystems#luxurylifestyle #luxuryhomes #uhnwi #domesticstaff #estatemanager #billionaire #millionaire #mansion #householdstaff #housemanager