What To Do If You Want All Of Your Stuff Lost In A Lawsuit with Garrett Sutton

When a business owner or shareholder is held personally liable for the debts owed by their business, that’s called “piercing the corporate veil,” and it happens in almost half of all lawsuits against single-member, small corporations, and limited liability companies (LLCs). So how can you protect yourself from a similar situation? Forming an LLC or corporation can protect your assets and offer other benefits. But only if you do it right. That's what Russ, Joey, and their guest, Garrett Sutton, will discuss in today's episode.

Garrett Sutton, Esq. is a corporate legal expert and the personal asset protection attorney for Rich Dad founder Robert Kiyosaki. Garrett is the author of Veil Not Fail. He shares the critical information business owners, entrepreneurs, investors, and high-wealth individuals need to set up and maintain secure corporate entities to protect themselves from personal legal exposure.

Top 3 Things You’ll Learn:
Basic rules and corporate formalities you need to follow to keep your legal entities in good standing
How to avoid a default judgment
How to reduce your personal liability in the event of a lawsuit

About Our Guest:
Garrett Sutton is a corporate legal expert and has been in practice for over 35 years. He assists entrepreneurs and real estate investors worldwide to protect their assets and maximize their financial goals through sound management and asset protection strategies. Garrett is highly sought after as a guest speaker and serves as a member of the elite group of “Rich Dad Advisors” for bestselling author Robert Kiyosaki. In addition, Garrett has authored several successful books for business owners, including Start Your Own Corporation, Run Your Own Corporation, Writing Winning Business Plans, and Loopholes of Real Estate. These books are part of the bestselling Rich Dad, Poor Dad wealth-building book series.

Resources:
Veil Not Fail: Protecting Your Personal Assets from Business Attacks (Rich Dad Advisor Series) by Garrett Sutton - https://www.amazon.com/Bullseye-Business-Piercing-Veil-Corporations/dp/1947588168

Connect with Garrett Sutton:
Corporate Direct Website - https://corporatedirect.com/

Schedule a Consultation with Garrett Sutton and his Team: https://corporatedirect.com/schedule/

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6:06 - Garrett, what is the one thing our audience needs to immediately tune into to understand why they need to be reading your book and listening to you?
06:59 - You actually got the chance to meet Robert Kiyosaki. I think that's a pretty interesting story. Would you mind sharing that?
7:57 - What are the most common ways that problems happen that people may not be aware of?
11:14 - I want to hear the story of the person you've talked to way too late. What was the consequence? What was it that they lost?
13:06 - Give me one example where the judgment was brought on somebody; say they're a real estate investor. What's one reason they would have gotten the judgment, to begin with?
15:36 - Robert Kiyosaki was looking for a Nevada attorney for some reason, which begs the question, are there better states to incorporate in vs. others?
17:41 - Who should the registered agent be?
19:05 - What other details or tasks does a registered agent do besides being present and available?
20:05 - Is there any other reason this veil could easily be broken?
23:14 - How does someone who wants to start a company interact with you?
25:27 - Is there ever a situation where it doesn't necessarily make sense to set up an entity?
26:48 - I'm thinking of an entrepreneur who has created several different entities but probably doesn't know if they've been keeping the corporate minutes and don't know who the registered agent is. Would you evaluate their books and help them catch up, so they are protected going forward?

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