It’s a good first question to ask yourself when building your asset protection plan. Do you think you’ll be treated fairly? Do you feel confident relying on the courts and laws that can take everything away…to instead offer you protection?
Colin Ley is an asset protection attorney and the creator of the PREP Trust®. He is also the co-founder of LayRoots (along with with partner in life & business – Shreya Ley)
Want to protect yourself from stupid lawsuits? Schedule a free, quick call with me at livemorecarefree.com.
- Hey! Colin and Shreya Ley with LayRoots. And we wanted to sit down and talk to you today, I’ll start talking about some of the fundamentals of asset protection. They’re some very basic ideas about what entails asset protection, all those good things. And so I wanted to start breaking those down. And one of the first things I’ve wanted to talk about is a question that I learned from another offshore asset protection attorney. One of the first questions that he asks people is, “Do you feel you would be treated fairly “in a US courtroom?” If the answer is no, then why are you even considering Nevada Trust, Wyoming LLC? Think about it. The whole problem of our court system and why there is an asset protection industry in the first place is because our US courts are insane! People can sue you for anything, they can go after your assets without any real claim against you, without you doing anything wrong. And so, you’re worried about a US attorney suing you, how are you gonna go into a US court and rely on the same laws and the same judges that can take everything away from you to then suddenly protect you? Right? How can you rely on the same courts that can take everything away from you to protect you at the same time? And a lot those judges that are in the courts used to be the attorneys who were suing people and making their money taking assets from other people. So are you really going to trust that you’re gonna be treated fairly if you’re inside that US courtroom? It’s a mess, and so, here at LayRoots we take our work very serious. But we don’t always take ourselves so seriously. And so, I wanna kinda play this little thought game here. Right, so imagine you’re worried about how you’ll be treated in a US court, and so you’re gonna rely on US laws and US courts to protect you from US courts. So, let’s think about another scenario. Shreya,
- Yes? We go to the mountains.
- Yes. We go camping. Imagine that you’re lost out in the woods. And you’re worried about bears.
- Right? There’s bears out there in the woods, they might get you.
- I’m so scared! I know there’s bears around here. And if I can’t get out of here, I’m sure a bear is going to get me. So, I’ve been thinking… I’m really worried about these bears out here. But what if I got like, a nice bear? Like, I found another bear who could protect me from the mean bears? That could work, right? Come to think of it, that’s a terrible idea! The better thing to do, obviously, would be to get the hell outta this forest and be somewhere safe where the bears can’t get me. Like in here, by the fire. I hope you enjoyed that. Right? And it makes total sense. How is a bear gonna protect you from other bears, right? Why would that be your plan of action to be protected when instead the smarter thing to do is to get outta the woods, get outta that US court system, and go somewhere where you’re gonna be safer, where they’re gonna treat you better?
- A nice little cabin!
- With a fire.
- Right, that’s like the Cook Islands, Nevis. Wonderful tropical islands where they offer better laws to protect people like you from crazy US attorneys and US court rooms. F*** off, bears!
Listen to the episode. (04:59)