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Trump University Asset Protection 101

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Trump University Asset Protection 101

Tax and Legal Strategies of the Rich

Wiley,

15 min read
10 take-aways
Text available

What's inside?

Find out how you can protect the proceeds of your lifetime of work from taxes and lawsuits.

Editorial Rating

6

Qualities

  • Applicable

Recommendation

Donald Trump has branded a core set of texts on personal finance that will probably sell quite well thanks to the power of his imprimatur. In that role, Trump has provided a generic two-paragraph foreword for all the books in this series. The author, J.J. Childers, offers a good basic text that explains the whys and hows of arranging assets to protect them from lawsuits and taxes, particularly estate taxes, in the U.S. He also discusses how to keep more money by structuring your wealth properly. This is all great advice, but the book’s real value is that it makes you aware of these basic personal finance concepts, and gets you strategizing clearly about how to hang on to – and protect – your earnings. getAbstract finds some good advice in this primer on asset protection, though you may want to supplement it with more advanced materials as you develop a deeper understanding of this important subject.

Summary

What the Wealthy Know that You Don’t

As long as your spending equals or exceeds your income, you will never be rich. You may know how to create wealth, but do you know how to protect it? You worked so hard for your dollars, you don’t want to let them slip away. Maximize your income’s utility by controlling your spending, and protecting your savings, property and investments from the taxman and frivolous lawsuits. Asset protection isn’t mysterious, nor is it shady or illegal. Too many people lose more earnings to various tax authorities than they spend on their house, clothing and food. Use three important tools to hang on to more of your earnings: 1) Reduce your tax liability legally; 2) Protect your assets from lawsuits; and 3) Carefully plan your retirement and protect your estate from estate taxes.

Most people pay more taxes than necessary because they don’t know the tax code, while others do but don’t act on their knowledge. Some people file taxes inaccurately, inadvertently waving a red flag at the Internal Revenue Service (IRS) and getting pulled in for audits. Don’t fear the IRS – instead find out how to use the tax code legally to your advantage.

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About the Author

J. J. Childers, J.D., is an attorney and speaker who specializes in asset protection strategies.

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