Welcome, everybody, to this week's episode of the Main Street Business Podcast.

Mark Kohler here with The Amazing Matt Sorensen.

Yeah, baby, I'm here.

That was your cue.

That was okay.

We're going to have a, we've got to get some signals down, you know, like some sort of hand signal.

I never know how to run with it when you throw it to me like that.

I was like, am I ready for the topic yet? Or are we still on intro of the podcast? I know. Where am I at here? You know, Tom Hanks and Private Ryan, they had the hand signals. They knew what they were doing. Yeah, we need it. We need it. We need it. implement that. Well, today is about the basics.

The, how do I get started with asset protection?

It's a, it's an area fraught with a lot of misinformation.

Yeah.

Frought with a lot of information, misinformation and overkill.

Also, by the way, that's a great song.

I forget the band who sings Overkill, but anyways, great song.

But Overkill, because some people go too far and they create expensive maintenance costs, ridiculous tax return requirements, and they didn't need it. So you want to go over the 101.

What do you need to know? If you're a business owner, you own real estate, you own a home, you got a retirement account,

we just want to hit those areas so you know how your assets are protected in the event of an unfortunate lawsuit.

And the thing here is young or old, rich or poor. I'll have meetings with clients that are worth millions and I'm like, are you doing this? No. That's basic. That's number one.

They're like they're paying for this elaborate structure and they're

leaving the front door unlocked. You know, it's like, it's just kind of the weird, weird thing,

you know, and so we want to make sure you're maintaining your entities. We've got some good basics here.

And nine times out of ten, they're, they're either cheap, affordable, or free. Yeah. Yeah. A lot of stuff you can do on your own. Some of you might want a little console with one of the lawyers that, the amazing KQS lawyers. We'd love to help you out. So let's get started. I think anytime you start asset protection, we got to start with risk. Yes. What risks do you have? We all have different risks. If you own a business, you've got a little set of risks. You've got some customers. If you own real estate, you've got some risks. And you've also got an asset. You've got a tenant and you've got a property. So let's think of your risks. Everybody's a little unique there. And I bring it into two types of risk. Are you creating risk and do you have assets

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