Not everything has to be completed and done perfectly before you start, but at least begin the process, the foundation. You need to plan ahead. Take the necessary steps to protect and preserve your assets now, so that as they grow, you and your family’s financial future will be shielded.

Believe for the best and prepare for the worst. Just as a police officer wouldn’t go into a situation without a bullet-proof vest, you shouldn’t enter business or real estate ventures without appropriate protection. It is wise to take preventative measures. Sure, that police officer could say, "God will protect me." Well, God does protect us, but He expects us to use wisdom and the tools He has given to us. Maybe none of us should carry insurance of any kind, if we feel that God will protect us anyway. Yet, most of us do have insurance because we feel it is the wise thing to do. Paying for insurance and taking steps to protect your wealth doesn’t mean we don’t trust God.

Again, my intention is not to cause you fear, but at the same time I want you to understand the importance of asset protection. If there is a lawsuit related to one of your businesses, all of your personal assets, including your home, your cars, and your bank accounts, could then be tied to the suit and you could lose it all. Likewise, if you are sued personally, that suit could then be tied to your business. The liability shield you need to put up works in both directions.

You can’t wait until you are sued to start placing your properties and your businesses in legal entity structures. That’s like the police officer putting on his bullet-proof vest after he has been shot!

I pray that none of you listening to this CD will ever have a lawsuit filed against you, but if you do, you’ll be glad you have taken the time to get your asset protection strategies in order. I sure can sleep better at night knowing I have the appropriate structures in place in case something ever does arise.

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