Real Estate Rookie
The Rookie Guide to Asset Protection: LLCs, Insurance, Partnerships, & Trusts
May 14, 2025
Bonnie Galam, a real estate attorney and educator, joins the discussion on asset protection for investors. She clarifies the crucial differences between LLCs, trusts, and insurance, emphasizing that proactive planning is key. Bonnie shares three actionable steps rookies can take right away, highlights the risks of equity partnerships, and explains how personal life events can jeopardize investments. Learn why having an estate plan and understanding local legal nuances are essential for safeguarding your portfolio without overspending.
43:37
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Quick takeaways
- Proactive asset protection measures, like establishing a legal framework before closing deals, are essential for new real estate investors.
- Proper documentation and understanding partner dynamics are crucial to prevent future disputes and ensure accountability in real estate transactions.
Deep dives
Understanding Asset Protection
Asset protection involves safeguarding not just physical assets, but also the time and income generated from those investments. It can be categorized into two types: proactive and reactive. Proactive steps are essential for investors at any stage, as they help to prevent issues before they arise. This means considering asset protection early on, even before closing a deal, to avoid complications later, such as potential transfer taxes and legal headaches.
