EP84: What Are Assets - and 4 Ways to Protect Them

Legally Enlightened with Lisa Fraley

You hear accountants, lawyers and financial planners kick around the word “assets.” But, what exactly ARE assets? How do you know if you have any personal or business assets worth protecting right now? (You might be surprised to know that you likely do!) What should you do to protect them? In this podcast episode, we demystify the world of assets and break down the 2 main types of assets and 4 common ways to protect them.

In this episode, Lisa shares:

• A general definition of assets
• What falls into the 2 main categories of assets for small biz owners: personal assets and business assets
• 4 important ways to protect your assets
• Why you should use legal documents such as Client Agreements, Terms of Use, and Joint Venture Agreements in your business
• How a business entity like an S-Corp or LLC protects your business assets
• How creating a Will and/or Trust can protect your personal assets
• How Trademarks and Copyrights protect your intellectual property
• Why Lisa aligns corporate entities to protect your assets with the third eye chakra

Resources:Easy Legal Steps - download the first book chapter free!

Episode 6—When Do I Need an LLC?

Episode 39 - 3 Things All LLCs Must Do

Episode 13 - What’s an S-Corp and When Do You Need It?

Episode 20 - 6 Reasons to Go Pro with an LLC or S-Corp

Episode 7—What You Should Trademark

Episode 25 - How to Trademark in 2 Steps: The Search and the Application

Episode 29 - Copyright 101 & When to Use the ‘Little C’

Mentions:

Nicole Jardim

Shark Tank

Kevin O’Leary