Asset protection isn’t about hiding wealth — it’s about keeping what you’ve spent decades building. In this conversation, R. Kenner French breaks down what asset protection really means and why high-net-worth individuals, especially real estate investors, are prime targets for lawsuits. He explains that without a proper structure, a single legal action can wipe out years of hard work, forcing people to start over at the worst possible time in life.
Kenner emphasizes that LLCs are one of the most effective tools for asset protection when they are structured correctly. An LLC creates legal separation between personal assets and business or investment properties, limiting exposure if a lawsuit occurs. By isolating assets into separate entities, investors can prevent one legal issue from spreading across their entire portfolio — a strategy often referred to as asset diversification.
A major theme of the discussion is that asset protection is risk mitigation, not paperwork. Kenner uses the “moat around a castle” analogy to show how strong planning discourages lawsuits before they even begin. Proper structuring, documentation, and ongoing compliance make potential litigants think twice, often deciding the time and cost of pursuing a case simply isn’t worth it.
The conversation also highlights the importance of layered protection, combining LLCs with liability insurance, retirement accounts, trusts, and strategic planning. Kenner stresses that not all attorneys specialize in asset protection, making it critical to work with experts who understand how to design structures that hold up under legal scrutiny. Asset protection plans, he notes, are now more accessible and affordable than ever.
Finally, Kenner reminds listeners that asset protection is not a one-time event. It requires regular review as asset values change, new properties are acquired, and risk exposure evolves. The key takeaway is clear: the best time to build an asset protection plan is before you need it. As French puts it, “The time to repair the roof is when the sun is shining.”
Takeaways
• Asset protection is crucial for safeguarding wealth.
• LLCs provide a legal structure for asset protection.
• Proper planning is essential for effective asset protection.
• Liability insurance is a key component of asset protection.
• Regularly review and adjust your asset protection strategies.
• Not all attorneys specialize in asset protection; choose wisely.
• Asset protection plans are becoming more affordable.
• Understanding your risks is vital in asset protection planning.
• A well-structured LLC can limit exposure to lawsuits.
• Consulting with an asset protection specialist is recommended.
Sound Bites
• What is asset protection?
• Garbage in, garbage out.
• You have to look at all your risks.
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