Creative Capital Podcast 118: Legal Asset Protection with Jonathan Feniak

Nov 26, 2021

Jonathan Feniak is an attorney and partner at ColoradoLLCAttorney.com. In this position, he helps business owners at nearly every level and in nearly every industry with asset protection, estate planning, and business formation. Beyond business owners, Jonathan also helps activists of all political persuasions to legally protect themselves. Venturing into the legal world, he worked first at a promising legal tech startup (Term Scout) and later at the law firm of Lewis, Bess, Williams & Weese. These experiences, along with earning a law degree, led Jonathan at last to his current role at ColoradoLLCAttorney.com.

 

In this episode, Jonathan shares everything we need to know about legal asset protection. Jonathan and I will dissect what asset protection is, how it works, and why it’s important to real estate investors. He will also talk about piercing the veil for an entity and forming series LLCs. Hop right it and learn more about legal asset protection from an attorney himself. Listen in!

[00:01 - 09:02] Introduction  

 

• An overview of the episode
• Welcoming Jonathan to the show
• Jonathan shares his background
• What got him interested in real estate law

 

[09:03 - 21:09] Legal Matters: Learning from Other People’s Mistakes

 

• Jonathan on underserved individuals in legal matters
• He shares his experience during the 9/11 crisis
• The importance of having a team
• How being an attorney helps Jonathan learn from other people’s mistakes

 

[21:10 - 49:44] Legal Asset Protection: A Detailed Look

 

• What is asset protection?
• • “Bottoms up” risk
  • The 6 basics of asset protection
• Piercing the veil of an entity
• • Is it a real company?
  • Avoiding a veil piercing
• Series LLCs
• • Forming series LLCs in different states
• Jonathan talks about land trust
• Why it’s significant to invest in the property’s structure
• Asset protection for multifamily syndications
• On non-disclosure agreements

[49:45 - 55:06] The Pod Decks Segment

 

• What's harder today than it was yesterday?
• What scares you the most about your future?

[55:07 - 01:10:59] The Core Four

 

• What is your favorite real estate-related book?
• • Antifragile: Things That Gain from Disorder (link below)
•  What do you think your unique skill is that helped you become successful?
• • Understanding risks and operations
• Tell me something that's true about real estate that almost nobody agrees with you on
• • Lack of liquidity
• What one piece of advice would you give the listeners wanting to succeed in real estate investing?
• • Think about the worst-case scenarios
• Connect with Jonathan!
• A summary of the episode
• Closing words

Key Quotes: 

 

“Don't lose it all through something you didn't see or plan for that you potentially could have.” - Jonathan Feniak

 

“A strong operating agreement is one that I think every partnership should have. What happens if we can't agree? How do we resolve disputes? What if I want out? What if I get divorced? What if I die? What if, what if, what if. 99 times out of 100, you're not going to need them, but when you add them, and you actually need them, they’re priceless.” - Jonathan Feniak

Resources Mentioned:

 

• Antifragile: Things That Gain from Disorder

Connect with Jonathan on LinkedIn!

 

Check out their website: https://wyomingllcattorney.com/

You can reach and connect with me on Facebook, LinkedIn, Instagram, and Youtube 

For more information about Ferrari Capital visit us on our website https://www.ferraricapital.com

 

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