What I’m going to share with you right now is the blueprint, so you can be protected for life. and isn’t that what we all want, to be free from worry that someone or some organization can come in at any moment and rob us of our livelihood? so, what does the perfect plan look like? well a perfect asset protection plan has four characteristics. I want you to think of this acronym ‘STOP’ – because asset protection is designed to stop would be creditors, almost every solid plan will have these characteristics. I’ll give you a brief overview and then get into more detail, so if anything seems confusing at first, do not get hung up on it because I will bring it all together for you in avery clear and concise way. alright, starting with the “S” in STOP, the first characteristic of a perfect asset protection plan is that it allows you to stay in control you should do your plan when you’re not in trouble; normally when you’re not under the gun you will always be in a 100% control. The only time when you might have to share control is if you’re really in trouble, and that sharing is done with a protector or an off shore lawyer who is on accounts with you. again, I’ll explain this completely in a few moments.
The second characteristic is the “T”…you should trust nobody, assume every single person you deal with is a crook; don’t wait for them to prove it. the world is filled with unscrupulous people who want to steal money, obviously, you’re going to do your best to avoid them if you can but even the savviest person can be duped from time to time. so, never construct a plan where you’re forced to trust somebody unless you choose to trust them. that’s one of my rules and if you follow it you will not get hurt.
The third letter is “O” and that stands for the characteristic “off balance sheet.” that’s another way of saying own nothing.Tthe firstrule of asset protection is what you do not own cannot be taken from you. Almost all asset protection functions by taking protected assets of your balance sheet. John D. Rockefeller said: “own nothing, control everything” if you don’t own anything, or it “appears” that you do not own anything, no lawyer will sue you unless someone is willing to pay his outrageoushourly fees. If, on the other hand, the lawyer sees substantial assets, he may very well take the case against you on a contingency basis.