The country’s leading international asset protection, privacy protection, and estate planning attorney, Kevin L Day, JD, MBA, caught up with MBA: Minority Business Access podcast, granting an exclusive interview filmed from the Magnify Your Wealth summit in Denver, Colorado. Day shares little-known legal strategies and techniques his firm uses to ensure that his clients, which include high-profile CEOs, entertainers and professional athletes, are able to protect their assets, lower their lawsuit profile and protect their privacy, thereby making their assets “lawsuit proof.”
Day and his firm have become the preeminent experts and notable speakers throughout the United States, instructing other attorneys and high-net-worth individuals on their legal rights when it comes to enforcing trusts that have been established outside of the United States.
“We have lots of actors and ballplayers who want privacy, which is usually the drive, and lawsuit protection is good for them too,” Day tells MBA host Solomon RC Ali. “Clients will come to us and say, ‘I need lawsuit protection.’ Then lowering their profile and other things that are concerns of their family come into play.”
Continues Day, “Lawsuit protection boils down to, if you own it, it can be taken, even if it is a deferred right. Until 1987, if you wanted to lawsuit proof something and you put it into a trust, you could not be the trustee or the beneficiary, so you had to give up all ownership and control.”
Day goes on to explain to Minority Business Access that as a result of the Hague Convention, which permitted trusts to be recognized and function internationally, high-net-worth individuals can now protect their considerable business interests, investments, real estate holdings, and other valuable assets through an irrevocable trust, while still retaining beneficiary rights and use of their assets.
“Attorney Kevin Day’s revealing interview granted to Minority Business Access podcast provides a detailed roadmap for everyday Americans to use these methods of the wealthy to lawsuit proof their own hard-earned assets while retaining use of those assets,” shares MBA host, Solomon RC Ali. “Tuning in could mean the difference between protecting you and your loved ones, financially, or having an unexpected event erode what you’ve worked for.”