Mastering LLCs, Trusts, & Wills: Essential Tips for Business Owners & Investors - Generational Gains Ep. 19

In this episode, we dive into one of the most frequently asked topics: LLCs. We'll cover why and when to establish an LLC, its benefits for business owners and investors, and how to properly utilize them. Additionally, we explore the importance of living trusts and wills, and how they can protect your assets and loved ones.

Key Topics Covered:

• The benefits and reasons for setting up an LLC
• Differences between LLCs, S Corps, and C Corps
• Asset protection and tax advantages of LLCs
• The significance of trusts in estate planning
• When to set up a trust and its advantages over wills

Timestamps:
0:00 - Introduction
0:09 - Why LLCs are crucial
1:10 - Carson’s experience with LLCs for real estate
2:21 - Liability protection with LLCs
4:11 - Different types of LLC setups
5:57 - When to set up your first LLC
7:25 - The importance of separating business entities
10:47 - Naming your LLC for anonymity
13:05 - The role of living trusts
17:01 - Protecting assets with Nevada onshore trusts
22:23 - Avoiding probate with trusts
24:11 - Final advice on business structures and trusts

Whether you're a seasoned business owner or just starting out, this episode offers valuable insights into structuring your business for success and protecting your assets for the future. Don't forget to like, comment, and subscribe for more episodes!

Watch the full video episode on Greg's YouTube Channel here: https://www.youtube.com/@gregherlean

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Carson's TikTok: https://www.tiktok.com/@carsonherlean