For years Shreya carried around a box that she thought contained a great tool for smashing up food. When the time came for her to smash some food, it turned out the box was mostly empty. The tool she had been lugging around for years was of no use to her.
How does this relate to asset protection? There are different tools available for protecting yourself from bogus lawsuits. When the threat of a lawsuit finally comes up, the tool you’ve been carrying around might not work the way you envisioned.
Colin Ley is an asset protection attorney and the creator of the PREP Trust® and Better LLC™. He is also the co-founder of LayRoots (along with with partner in life & business – Shreya Ley)
Being successful in America makes you a target for bogus lawsuits from shameless lawyers. We created an effective, asset protection solution, so you don’t have to worry anymore, happily knowing your family’s future is protected. Get started now by scheduling a free, 30-minute call at livemorecarefree.com.
When Colin and I got married we signed up for a registry like most people do. And on that registry, there was a food processor. Someone bought it for me. I was very excited about this food processor. I did all the research. I was like, this is a great food processor. I’ve never had one. It’s going to really make my kitchen life amazing. And then it proceeded to stay in its box. For eight years. We moved it from house to house to house, and then stashed it under beds in closets, and finally, last year, I decided I’m going to use that food processor. I was fed up and moved it around, just hoping it would work. And I was fed up and I finally wanted to use this food processor. And I went, got the box out from under the bed, and opened it to have this moment of using this useful tool that I had, you know invested all this time and energy in, moving it around waiting for the right moment. And I open up the box and there was no motor. There was no motor inside the box. I had been moving it around everywhere and now I couldn’t even use it. There was just like the little bowl that you put things in. Like I’ve been waiting for years almost a decade to finally use this tool. This thing that I’d been counting on making my life better. And now I can’t even do anything with it. And it kind of reminded me of the do it yourself Asset Protection Planning that people do, because when people finally go to use this tool that they put in place it usually doesn’t do the thing that they expected it to do. They were like I thought LLCs were the thing, I had formed an LLC. And then now they’re involved in a lawsuit, something is happening, and now there’s this other attorney going through their LLC detail by detail, trying to see if it actually is a valid one. And they’re going to find so many things wrong with it. Don’t be me. Don’t just carry around what you think is a food processor in a box for eight years not knowing if it’s going to do the thing you want it to do or if it even is the thing that you wanted. Figure it out before it’s too late before your hands are covered in dough and you’re ready to throw things into this food processor and use it for the first time. And if you liked my story, feel free to like this video. If you want to subscribe, hit that button up there. Thanks for watching. See you next time.