129: Asset Protection with Scott Smith

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Scott Royal Smith is a real estate investor and asset protection attorney in Austin, TX. He graduated from Albany Law School and began his career in high-stakes corporate litigation. Scott learned the key secret he now uses to defeat lawsuits: that they are a business. Through his defense work, he targets defeating lawsuits before they are even filed by making sure the business part of a lawsuit no longer makes financial sense for a plaintiff to proceed.

Scott founded Royal Legal Solutions to offer tax, business, and legal strategies to real estate investors. He has spent the past 8 years of his career diving through case law, reading the bever-changing tax code, and analyzing real estate investment so that you don’t have to. He works with clients all over the United States and Canada who want to grow their businesses and protect their hard-earned assets. For reasons only he may know, he gets a particular thrill out of sharing the secrets he studied and worked very hard to learn with ordinary investors. He is a regular
expert contributor to BiggerPockets.com and other real investment communities, and is currently writing an eBook on asset protection strategies to help educate the public.

Scott isn’t just a lawyer, he is also a real estate investor himself. His claim to fame as an attorney is his uncanny ability to make his clients “judgment-proof.” He uses a combination of his legal expertise, experience as an investor, and love of helping others grow and protect their businesses to build ironclad asset protection plans for his clients. Clients who employ Scott’s strategies tend to stay out of court altogether. His primary expertise is in stopping lawsuits before they even start.

Lawsuits can ruin your business and everything you’ve worked for. If you’re a real estate investor, contact Scott today to see how well your strategies are working for you and protect yourself before it’s too late. Scott and his staff at Royal Legal Solutions pride themselves of creating customized plans for your business success.

Currently, Scott lives in East Austin and is the proud father of an adorable Poodle named Franny. When he isn’t busy protecting his clients, he loves to practice jiu jitsu / muy thai kickboxing, explore the outdoors, and travel. His personal goal this year was to climb Mt. Kilaminjaro, and he succeeded.

Key Points

  1. Why you should consider asset protection
  2. How to prevent a lawsuit
  3. Series LLC with an anonymity trust
  4. How to avoid triggering a Due on Sale clause

Lightning Questions

  1. What was your biggest hurdle getting started in real estate investing, and how did you overcome it?
    • Just pulling the trigger
  2. Do you have a personal habit that contributes to your success?
    • Wake up early and give time to yourself
  3. Do you have an online resource that you find valuable?
    • BiggerPockets
  4. What book would you recommend to the listeners and why?
  5. If you were to give advice to your 20 year old self to  get started in real estate investing, what would it be?
    • Don’t worry about it. Things will be ok!

Resources

Royal Legal Solutions

RoyalLegalSolutions.com/realestateway

Real Estate Nerds podcast

Visit Audible for a free trail and free audio book download!

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