How to Choose the Right Legal Structure For Your Business with JJ Childers | Ep. 163 | Business Podcast
Summary
What is the best legal structure for your business?
In this episode you get JJ Childers’ top tips on choosing a business structure.
These tips are an outtake from epsiode #7 where J.J , an attorney whose practice focuses on business asset protection, estate planning, and tax reduction, explains the advantages and disadvantages of each type of legal entity.
Check out episode #7 after you listen to his top tips.
Brandon:
Hello friends, welcome to the show.
Brandon:
Today we are going back to episode # seven where JJ Children’s who is an attorney specializing in business structures and setting up businesses, talks about all the different types of business structures and the advantages and disadvantages of each one.
Brandon:
This is a short clip of his three H. P. T. S. High percentage tips. But you’re gonna want to go back and listen to episode number seven. If you have any questions you’re starting a business or even if you have a business, do you have the right structure? JJ lays it all out for you in episode seven.
Brandon:
Here were you welcome to build the business success secrets?
Brandon:
The only podcast that provides straight talk for entrepreneurs, whether you’re an entrepreneur starting with an idea or growing your business. This show is for you. We’ll teach you how to build a strong mindset, powerful body and profitable business so you can achieve success. And here’s your host Brandon. See white three H P T.
Brandon:
S. High percentage tips from JJ Children’s attorney, estate planning business entity set up.
Brandon:
What would they be JJ from you for our listeners.
Brandon:
You know, first of all, I I probably say don’t put all your eggs in one basket, which that could be applied for a lot of different areas, but don’t put all your eggs in one basket when it comes to your overall entity structure.
JJ:
Some people are looking for the one entity that’s going to solve all their problems, cure all your ills.
JJ:
What I do is what’s called wealth structuring.
JJ:
What that is, is structuring. The use of various legal entities. Working warm with another to give you the most rock solid ironclad plan available.
JJ:
The next strategy I would say is what I call isolate and insulate.
JJ:
When we say isolate and insulate. What we’re talking about is grouping those eggs, the lack of a better term into multiple baskets. And you isolate those eggs for our purposes, those assets, those activities into their own different legal entities so that you can insulate them from the liability associated with the other legal entities and the other assets and the other activities.
JJ:
So that’s the isolate and insulate.
JJ:
And then the final thing that I would say is always start with the end in mind and the ultimate end is going to be our end here on earth.
JJ:
And that’s where first things first.
JJ:
That’s your living trust.
JJ:
Make sure always focused with the end of mine where you ultimately planning to go as far as with your assets, where those assets going to go.
JJ:
That’s what’s going to drive this whole thing that if I were to say, what is the first step, first step is put your state playing together.
JJ:
Everything else can be done after that.
JJ:
But that’s the very first part of all this, which sounds a little contrary when we’re on a business podcast, I guess what we’re taking care of business First business are top priorities.
JJ:
Take care of family.
JJ:
Thanks for being generous with your time and joining us for this episode of build a business success secrets Before we go, let me ask you a quick question.
Brandon:
Are you the type of person who wants to get 100% out of your time, talent and ideas.
Brandon:
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Brandon:
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Brandon:
That’s b as in business success secrets dot com and until the next episode, remember you are just one business plan away, I’m rooting for your success
