Attorneys & Lawyers

Do these professionals fit into your ‘asset privacy’ plan?

In the past we were trained to seek out a lawyer for any type of legal matter. This included business organizations and estate planning. They also helped us with family or divorce issues, criminal problems, personal injury, bankruptcy, prenuptial agreements, or wrongful termination in the workplace.

Now there are many do it yourself forms online – for no fault divorce, prenup agreements, real estate deeds, estate planning and business organizations. Everything changed with the internet.

Another way of describing how legal services has changed is like television. In the old days there were only 3 major networks. Now you have 300 cable channels with specialized content.

Lawyers speak a foreign language with tons of technical terms. It’s very confusing. All you want is simple English.

People in general question the value of lawyers. Why do they charge so much? Do I really need to pay thousands of dollars for a simple solution? Not when you have so many alternatives online.

And when you spend a little time getting to know legal basics, you feel more empowered and knowledgeable. You realize a paralegal can be tremendously helpful and cost effective. Only when you have a major situation is it time for the lawyers.

Online forms have made it easy for the average guy to setup a corporation or LLC along with a Living Trust. But the main failure with most of these forms is they lack context.

Sure you could have a lawyer do the Inc/LLC that for you, but its way more expensive. Lawyers have seen online forms destroying their revenues and legal fees. Only the most highly specialized will survive in this next decade.


Why Don’t Lawyers Offer Asset Privacy?

Because law school never taught them how to ‘think’ asset privacy. They learn about business organizations and estate planning. They learn about family law and maybe how to argue a case in front of the judge.

Even the asset protection lawyers fail to embrace asset privacy. They prefer a complicated maze of corporations, LLCs, limited partnerships all registered with the Secretary of State. It all helps them earn legal fees. They’re joined at the hip with state government agencies.

Remember, asset privacy strategies and solutions are foreign concepts to the institutional mindset. We want our assets – unlisted!

Why So Few Lawyers Know Commercial Trusts

It’s a highly specialized niche – Pension Fund Trust, REITS, Oil & Gas Royalty Trusts, Bankruptcy Trusts, Business Trusts, etc.


Credentials, Control and Expertise

If you were to consult with a lawyer you’d need to know if behind the JD credentials they have the correct expertise. Well-meaning and helpful but unqualified is a bust. It’s unlikely you’d want a divorce attorney to help with securities fraud, or personal injury to help with employer termination. This same concept fits with asset privacy and trust strategies. You ultimately want someone that knows the territory.

Just because they studied legal history, Supreme Court decisions, and theoretical law doesn’t qualify them for asset privacy strategies. For example if you ask ‘business trust,’ their mindset automatically jumps to ‘anti-trust.’ How’s that for your starting point?

Lawyers are beholden to the state bar. Any professional with initials behind their name is controlled by someone else. They will rarely risk that license (earn a living) for any client. And most of them can only practice in a single state or two. They are geographically limited on where they can provide services. This in turn inhibits multi-state strategic planning.

Expertise is independent of education or professional licenses.

If you ever need help with standard paperwork, consider using a paralegal or licensed document preparer.


Summary

The internet has changed legal services and products. You can do so much more yourself with online education and tools.

Lawyers & Attorneys need visible assets to stay in business. Investors need invisible assets to stay safe. Keep in mind you’ll never find asset privacy or trust strategies in a general store. Learn it yourself.

The Internet…has become the voice of the people in the first genuine experiment in democracy yet conducted in America.

Gerry Spence…1999


 

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