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Kerry Lutz's--Financial Survival Network

Aug 26, 2021

Myself and former attorney Scott Reib get on the podcast today to discuss how people in the legal sphere clear up misinformation and minimize risks for various tasks. Ultimately, it comes down to getting professional, legal advice when you are operating a business rather than performing an internet search. Each circumstance is unique, and it is crucial to consult a professional that can point you in the right direction, and serve as a second pair of eyes. Tune in today to get indispensable advice from Scott Reib, who is published and currently offers consultation on this topic.

-There are so many statements about what people think the law is, and all too often, they are wrong
-How do attorneys clear up misinformation and calculate/minimize risks for various endeavors?
-Scott used to have an hourly model that didn’t work quite as well
-He switched to a subscription model so that clients can call him whenever rather than resorting to the internet or other resources
-A lot of people start businesses as proprietors without and LLC, or create an LLC incorrectly and lack a proper agreement
-Other times, people have very poor contracts with ambiguous/conflicting language or holes
-People lack to protect their brand, neglecting to trademark or copyright it—which results in this content getting pirated
-Siri does not necessarily hold the answers to complex legal questions. Every answer depends upon the particular circumstance
-There are so many simple things that attorney’s don’t think of, and it’s helpful to have a second pair of eyes to correct you when something is wrong. You can’t wear all of the hats.
-Legal advice you get for free is worth exactly what you paid for it
-Make sure you’re never running multiple businesses out of one entity, and keep your hard assets in a holding company
-Running with one LLC is good, but it does not protect all of your assets
-Make sure you have all the insurance you can afford

Useful Links:
Financial Survival Network
Reib Law
5 Proven Strategies To Shatterproof Your Business