Welcome to Radical Personal Finance a show dedicated to providing you with the knowledge, skills, insight, and encouragement you need to live a rich and meaningful life now, while building a plan for financial freedom in 10 years or less.

Today we pick up our asset protection planning for mere mortals

series back to some technical financial planning in today's show. This is part

11 of the series wherein we discuss wage exemption planning.

This episode will not be the last in this series, but this is the last of the exemptions

that we need to cover. The concept behind this asset protection. the ordinary lifestyles, some information on how you can set yourself up to be protected,

to have your assets protected in case you face some kind of significant legal threat.

And so we're dealing with the very basics.

Basics number one is exemption planning.

Today we round out exemption planning.

I think we'll talk a little bit about asset titling.

We'll talk a little bit about some basic business structures and I think I'll leave this

series alone with that with those basics. I'm not going to get into any advanced concepts, any

trusts, any offshore planning, etc. in this particular series. But today I want to talk about

wage exemption planning. Now wage exemption planning is one of those funny little ones because

it's very different than some of the other things that we've talked about.

With all the other exemption planning ideas that we have discussed,

we've talked about how do you protect an asset.

But today we're talking about how do you protect your income against wage

garnishment? Well why would your wages be garnished? Most of the reasons why

your wages would be garnished are not related to some of the legal threats that we've largely focused on in this particular series.

It is the case that your wages could be garnished as a result of a judgment being entered against you in a court.

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