This podcast is different from many which I’ve done. Hosts Michael Bazzell and Justin Carroll were already familiar with Land Trusts, and Michael had already gone through my course and created a Land Trust. They started with a lot of knowledge. Therefore the questions they asked took our conversation into uncommon and important topics. This is stuff you’re not going to hear just anywhere, folks!
We discussed the difference between a Land Trust and a living trust and why you want to put each real estate asset into its own Land Trust. I gave them a personal example of what I describe as “legalized blackmail.”
You’ll also hear Justin, Michael, and I cover why not every LLC is going to shield you. Michael and Justin also asked me to suggest a structure to protect against frivolous lawsuits.
Are you talking to your loved ones and family members about estate planning and privacy? Listen to our conversation about the importance of educating family members. If you’re not having this dialog with those dear to you, it could cost you . . . and them! Plus, I include a personal tip, what I call “Dad’s Last Lecture.”
One of Justin and Michael’s great questions was “What’s the biggest mistake” I see people make when creating their Land Trusts. Listen to this podcast, and you’ll know how to avoid it.
Finally, Michael and Justin asked me a question which they pose to all their guests. They ask what I’d tell the person who doesn’t think privacy is important because they’ve “got nothing to hide.” My response is a story that came from one of my students. Believe me, you don’t want to find yourself in her position!