Asset Protection 101 and "Robin Hood Lawsuits" Coming For YOU…

Asset Protection 101 and “Robin Hood Lawsuits” Coming For YOU…

Episode #838

Without asset protection, your wealth is as good as gone. One slip and fall from a tenant, one angry ex-spouse, one jealous onlooker, and you could have your real estate relinquished and your bank accounts drained. And as the economy continues to get even more rocky, lawsuits that threaten your hard-earned nest egg are becoming more and more common. So, how do you build a legal fortress around your fortune?

Brian T. Bradley, Esq., our go-to asset protection expert, is back on the show with news that could affect all real estate investors. A recent case surrounding LLCs (limited liability companies) has completely changed the landscape for investors, businesses, and anyone who operates within an LLC. Now, the LLC you so carefully set up could mean nothing if you eventually get sued. But there is something you can do about it.

In this episode, Brian goes over the changes in this new LLC law, how you can start protecting your assets (even if you only have a couple of properties), how to NOT commit “accidental fraud,” and the rise of “Robin Hood” lawsuits you MUST protect yourself against.

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Hear Past Interviews with Brian:
How to “Layer” Legal Protection So Lawsuits Won’t Touch Your Wealth: https://www.biggerpockets.com/blog/real-estate-595?utm_source=youtube&utm_medium=description&utm_campaign=none
Don’t Lose Your Portfolio to Lawsuits! Here’s How to Protect Yourself:
https://www.biggerpockets.com/blog/rookie-podcast-105-brian-bradley?utm_source=youtube&utm_medium=description&utm_campaign=none
Asset Protection for Rookies: 7 Wealth-Saving Answers from an Expert: https://www.biggerpockets.com/blog/rookie-podcast-106-brian-bradley?utm_source=youtube&utm_medium=description&utm_campaign=none
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10 Landlord-Tenant Laws Every Landlord Should Know:
https://www.biggerpockets.com/blog/landlord-tenant-laws?utm_source=youtube&utm_medium=description&utm_campaign=none
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Work with Brian (and Pick Up His New Book!):
BiggerPockets: https://www.biggerpockets.com/users/brianesq?utm_source=youtube&utm_medium=description&utm_campaign=none
Website: https://btblegal.com/
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Rob: https://www.biggerpockets.com/users/robuilt?utm_source=youtube&utm_medium=description&utm_campaign=none
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Connect with Rob (Robuilt):
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YouTube: https://www.youtube.com/c/Robuilt
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Show notes at: https://www.biggerpockets.com/blog/real-estate-838?utm_source=youtube&utm_medium=description&utm_campaign=none

00:00 Intro

01:19 Quick Tip

01:58 LLC Laws Just Changed

10:07 “Piercing the Veil”

11:13 Impact to Investors

13:04 “Accidentally” Committing Fraud?

19:48 Divorce Fraud

23:18 Stay Away from S-Corps

25:38 How to Protect Your Assets

37:15 What the Wealthy Do

41:11 “Robin Hood” Lawsuits That Hurt YOU

44:02 Grab Brian’s New Book!


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