96: 6 Keys to Protecting your Properties from Lawsuits with Scott Smith

Scott Smith is the owner of Royal Legal Solutions, an asset protection company for real estate investors which develops strategies to maximize tax savings and protect from lawsuits. He himself is a real estate investor who holds real estate investments in 10 states. He believes that if a person is building a real estate empire, he is bound to get sued and being one step ahead is the wisest way to protect his assets. During the episode, Scott explains the 6 keys that would help property owners protect their assets from devastating lawsuits. In the real estate world, getting sued is a common thing and a very expensive one. He explains the foundation of asset protection and several ideas that go with it. Listen in and find out why real estate investors need professional asset protection.   Where we are: Johnny - Ukraine Sam - Florida   Links: Royallegalsolutions.com   Time Stamps: 07:57 – His journey to Real Estate Investing 12:28 – The foundation for protecting assets 17:45 – Lawsuits from accidents 20:21 – The truth about Insurance Companies 22:10 – Getting started with Asset Protection 23:37 – Series LLC 28:43 – Insurance and other asset protection 31:17 – Recommendations for what insurance to choose 32:51 – Umbrella Policy 33:33 – Separation of the asset with your personal name 34:37 – Compartmentalization of Assets 37:43 – The Unanimity Structure 40:20 – What do Royal Legal Solutions do?   If you enjoyed this episode, do us a favor and share it! Also if you haven’t already, please take a minute to leave us a 5-star review on iTunes and claim your bonus here! Copyright 2017. All rights reserved. Read our disclaimer here.