R. Kenner French discusses the importance of asset protection, particularly through the use of LLCs. He explains how asset protection strategies can safeguard wealth from lawsuits and other risks.

The discussion covers the role of LLCs, the significance of proper planning, and key elements such as liability insurance and risk assessment. Kenner emphasizes the need for a comprehensive asset protection plan and the value of consulting with specialized attorneys.

Takeaways

• Asset protection is crucial for safeguarding wealth.

• LLCs provide a layer of protection against lawsuits.

• Proper planning is essential for effective asset protection.

• Liability insurance is a key component of asset protection.

• Regularly review and adjust your asset protection strategy.

• Consult with an asset protection specialist for tailored advice.

• Understanding your risks is vital in asset protection planning.

• Asset protection plans are becoming more affordable.

• A well-structured LLC can limit exposure to lawsuits.

• The time to implement asset protection is before a crisis occurs.

Sound Bites

• What is asset protection?

• Not all attorneys are created equal.

• You have to look at all your risks.

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