Listen in as David chats with author and nationally recognized asset protection attorney Bo Loeffler. David and Bo begin by discussing Bo’s background as a litigator and U.S. Bankruptcy Trustee and how that has helped him as an asset protection attorney. Bo also chats about his experience in representing lottery winners.

David and Bo then dive into a few specific tools often used in asset protection planning, including insurance and exempt assets. They then cover limited liability companies (LLCs) and trusts—discussing the key success factors for each and pitfalls to avoid.

What You’ll Learn:

  • How Bo comes from a family of physicians but gravitated to law
  • Bo’s experience as a commercial litigator and U.S. Bankruptcy Trustee
  • Why insurance and exempt assets are crucial to asset protection planning
  • How LLCs protect assets
  • Why not all “LLCs are created equal”
  • Bo’s role in writing the LLC statutes in Ohio
  • The importance of an LLC operating agreement and what it actually says
  • Why titling, annual meetings and lack of commingling are crucial
  • Bo’s role in writing the Ohio statute on Domestic Asset Protection Trusts (DAPTs)
  • What an HDAPT is and how clients in states without DAPT laws can use it
  • The importance for physicians to begin their asset protection planning with a Diagnostic first, before Treatment

Resources:

  • David Mandell: Bio
  • Bo Loeffler: Bio