January 28, 2019

Why asset protection matters, with Scott Royal Smith

Episode 860:

Scott Royal Smith is a real estate investor and asset protection attorney in Austin, TX. Scott became an entrepreneur while still in law school, purchasing and running an auto mechanic shop, to pay his way through school. After graduating, Scott begin his law career as a high-stakes corporate litigator. He spent the last 8 years of his career analyzing real estate investment and asset protection. Today, Scott is the Founder and CEO of Royal Legal Solutions. A firm he built to offer tax, business and legal strategies to clients all over the U.S and Canada. He continues to educate the public on asset protecting strategies to help circumvent debilitating lawsuits for his clients.

What you’ll learn about in this episode:

  • How climbing Mt. Kilimanjaro under the worst possible weather conditions mirrors Scott’s overall outlook on life
  • How going from four to thirty-five teammates in 2018 put strain on Scott’s business, and how he managed the challenge
  • Why asset protection is a critical tool in any business owner’s arsenal, and why it matters
  • How asset protection is structured using LLCs to protect your business from legal claims and predatory lawsuits
  • How proper asset protection helps dissuade lawsuits from ever getting filed in the first place
  • How Royal Legal Solutions helps small businesses access the same asset protection strategies the big corporations use
  • Why insurance is an important layer of protection for your business, but why it’s important to not go overboard
  • How to “hide” the ownership of your assets so that what you own remains secret from the general public
  • How land trusts work to protect your real estate assets in the same manner that an LLC protects your monetary assets
  • Why business owners can retroactively implement asset protection strategies, and how a series LLC structure works

How to contact Scott Royal Smith:

Stephen Woessner

Stephen is the CEO of Predictive ROI and host of the Onward Nation podcast. He is the author of two bestselling books, speaker, trainer, and his digital marketing insights have been featured in SUCCESS, Entrepreneur, The Washington Post, Forbes, Inc. Magazine, and other media.