Ep. 171: How to Use Trusts and LLCs to Protect Your Assets with Brian T. Bradley

Asset protection is a key component of creating and preserving wealth, yet many struggle to understand which strategies are right for them. LLCs, trusts and bridge trusts are three key entities that can help investors protect their hard-earned assets. I spoke to an asset protection attorney, Brian T. Bradley to discuss these strategies in more detail and learn more about the benefits of each. In the discussion, he shares who should use LLCs and trusts, why insurance does not provide sufficient protection and covers frequently asked questions he receives. 

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Key Insights

• Real estate is the most ligated area of law
• Protecting assets is about peace of mind to maintain lifestyle and capital preservation
• Asset protection is not just for the rich, it’s for anyone with assets
• The ones starting out are going to make the most mistakes
• Put assets in an LLC and not in your personal name
• Create two LLCs to separate ownership from use and enjoyment
• Insurance industry is trying to collect premiums, not pay out claims
• They will pay out small claims, but larger payouts are challenged and force you to sue the insurance company for claims
• Legal and Practical Authority – a judge can do whatever they want
• Asset Management Limited Partnership – simplifies LLCs and consolidates tax returns 
• Trusts can be set up in the US or off-shore
• Only 17 states have domestic asset protection trusts
• Bridge trusts combine the best of US and offshore trusts
• Bridge trust is an irrevocable tax-neutral grantor trust
• First layer is LLC, next layer is Asset Management Limited Partnership, final layer is Asset Protection Bridge Trust
• A trust is a separate entity that can own assets for a beneficiary
• Asset protection is not about hiding assets or tax avoidance

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Bull’s Eye Tips: 

Apparent Failure:

Injured baseball player, pivoted to law, and worked for free for 3 years

Most Recommended Digital/Mobile Resource:

Google Analytics

Daily Habit:

Reflection and organization

Wish I Knew When I Was Starting Out:

You can’t control everything

Advice for Smart, Driven College Student:

Check your ego

Current Curiosity:

Everything from Jesus’s his real-life to neuroscience to woodworking

Best Place to Grab a Bite in Portland area:

Industry

Connect with Brian:

Email: brian@btblegal.com

Website: www.btblegal.com

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