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Are you being sued or worried that a lawsuit is coming? Before you start moving money, transferring property, or putting assets into an LLC, there are some important things you need to know about protecting your wealth from creditors and lawsuits.
In this video, asset protection attorney Clint Coons, Esq. explains how to protect your assets from a lawsuit, what happens when creditors come after your property, and whether it's too late to protect your money once you've already been sued.
One of the biggest mistakes people make when facing a lawsuit is assuming that everything they own is automatically at risk.
But that's not necessarily true.
Depending on how your assets are structured, who is being sued, and what legal protections you already have in place, certain assets may be exposed while others could be protected.
So, what should you do if someone sues you?
And can you still protect your savings, brokerage accounts, rental properties, and personal assets after a lawsuit has already started?
Clint breaks down the important differences between personal liability and LLC liability, how creditors identify assets they can pursue, and why transferring property at the wrong time could create even bigger legal problems.
You'll also learn about fraudulent transfers, how Wyoming LLCs can fit into an asset protection strategy, and why your insurance coverage and the amount of the lawsuit matter when evaluating your options.
The bottom line? Protecting your assets from lawsuits isn't simply about hiding money or transferring everything into an LLC. It's about understanding which assets are exposed, what creditors can legally reach, and how to structure your wealth properly.
Whether you're a real estate investor, rental property owner, business owner, or someone looking to protect your personal savings, understanding these asset protection strategies could help you avoid costly mistakes.
Remember, the best time to create an asset protection plan is before a lawsuit or creditor claim arises. Transfers made after a claim exists can be challenged under applicable law.
If you found this video helpful, give it a LIKE and SUBSCRIBE for more videos on asset protection, LLCs, real estate investing, protecting rental properties, and building wealth.
Have questions about protecting your assets from creditors or lawsuits? Leave them in the comments below!
SHOW NOTES
0:00 - Can You Protect Your Assets After Being Sued?
0:34 - Which Assets Can Creditors Actually Take?
1:31 - How LLCs Protect Your Personal Assets
2:01 - What Happens When You're Sued Personally?
2:34 - Can You Transfer Assets During a Lawsuit?
2:49 - Florida Case: When Moving LLC Money Backfires
4:23 - 3 Questions to Ask Before Protecting Your Assets
5:24 - Protecting Savings and Brokerage Accounts
6:36 - Using a Wyoming LLC for Asset Protection
7:14 - What If You're Being Sued for $500,000?
8:20 - What If Your Insurance Doesn't Cover the Lawsuit?
9:37 - What Is a Fraudulent Transfer?
10:45 - Can Courts Reverse Asset Transfers?
11:59 - Why Asset Protection Planning Should Start Early
12:21 - Can Previous Asset Protection Planning Help?
13:43 - What Options Do You Have After Being Sued?
14:24 - The Best Time to Protect Your Assets
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CONTACT US
Phone: 800.706.4741
Email: info@andersonadvisors.com
Fax: 702.664.0545
ABOUT CLINT COONS
Clint Coons, Esq. has grown his legal and tax firm to over 400 employees by assisting real estate investors with creating and implementing solid entity structuring plans. His success in these regards is in large part due to his personal investing experience. A successful attorney, real estate investor, and speaker, Clint has used his innovative and dynamic strategies coupled with knowledge borne from experience to help thousands of people save millions of dollars and build real wealth.
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The information provided in this video should not be construed or relied on as financial, investment, or legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.
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