One of the realities of building wealth is that the more you have, the more you have to lose. Asset protection and estate planning aren’t just legal technicalities—they’re essential parts of safeguarding everything you’ve worked for.
The worst time to plan is when you actually need it. If you wait until you’re facing a lawsuit, a creditor, or a sudden death in the family, it’s already too late.
Think of asset protection like insurance. Most of us wouldn’t drive without auto insurance or own a home without homeowners’ insurance. Yet many wealthy people operate businesses, hold investments, and build family wealth without putting legal structures in place to shield those assets. One lawsuit or one major life event can undo decades of hard work.
On the estate side, not having a proper plan doesn’t just cost money—it creates stress and hardship for your loved ones. Without a solid estate plan, your family could end up tied up in probate courts, fighting over assets, and losing valuable time and resources.
We’ve talked on this show before about basic steps everyone should take—like forming entities to protect your business or making sure you have not only a will, but also a living trust. Those are the starting points.
But as your wealth continues to grow, your planning needs to grow with it. High-net-worth families have to think about more robust strategies—things like dynasty trusts, asset protection trusts, and the best jurisdictions to set them up.
These aren’t just technical details. They’re the difference between wealth that gets preserved and multiplies across generations and wealth that gets chipped away by taxes, lawsuits, and poor planning.
To help us understand these tools at the highest level, I’ve invited perhaps the most respected attorney in this space—someone who is seen by other attorneys as the thought leader in asset protection and estate planning—Steve Oshins. Steve has pioneered strategies that are now industry standards, and his work has shaped how families across the country protect and grow their wealth. You’re going to want to pay attention this conversation closely.
Transcript
Disclaimer: This transcript was generated by AI and may not be 100% accurate. If you notice any errors or corrections, please email us at phil@wealthformula.com.
If your trust is drafted really well at the inception or via the first decanting, you probably will never have to decant the trust again simply because you’ve already built the flexibilities into the trust.
Welcome everybody. This is Buck Joffrey with the Wealth Formula Podcast coming to you from Montecito, California. Before we begin, reminder. There is a website associated with this podcast called wealth formula.com. Go check it out for the latest resources there. And also, uh, remember that if you are an accredited investor and you would like to potentially see deal flow, uh, go to wealth formula.com and sign up for the investor club.
You’ll get onboarded. At that point, potentially, uh, see opportunities that you wouldn’t otherwise see that are limited for accredit investors. Again, that’s wealth formula.com. Sign up for investor club. Now let’s, uh, let’s talk a little bit about issues, uh, related to, uh, building of wealth. One of the realities of building wealth is that the more you have, the more you have to lose asset protection and estate planning Art.
Just legal technicalities. They’re really an essential part of safeguarding everything you’ve worked for. You know, the worst time to plan this stuff is when you actually need it. So if you wait until you’re facing a lawsuit, a creditor or a sudden death in the family, it’s already too late. Right? Think of asset protection like insurance.
That’s basically what it is. Most of us would drive without auto insurance or own a home without homeowner’s insurance yet. Man
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