These are the checklists related to Asset Protection.
When you click on the task, you can also see the tags that task is filed under. You can also click on the tag to see other tasks with that tag.
- Determine your Contract and Paperwork Attorney
If you're going to have the paperwork for working with your Real Estate Broker, Contract to Buy and Sell Real Estate, or any other paperwork you might sign reviewed by an Attorney before you sign it, you may want to determine who that Attorney will be.
This Attorney will also probably prepare or review your Lease.
Ask your Real Estate Broker for a recommendation.
Mark this task as complete once you've decided which Contract and Paperwork Attorney you will use to help review your legal documents or if you're qualified to review them yourself.
Asset ProtectionDream TeamDream Team - Pre-ClosingFirst Meeting: PaperworkLeasePaperworkUltimate Nomad ChecklistWeek 1
- Determine your Contract and Paperwork Attorney (if you haven't done it already)
If you're going to have the "Contract to Buy and Sell Real Estate" (or any other paperwork you might sign) reviewed by an Attorney before you sign it, you may want to determine who that attorney will be.
Ask your Real Estate Broker for a recommendation.
Mark this task as complete once you've decided which Contract and Paperwork Attorney you will use to help review your legal documents or if you're qualified to review them yourself.
Asset ProtectionDream TeamDream Team - Pre-ClosingPaperworkPre-Showings: Mock ContractUltimate Nomad ChecklistWeek 1
- Partnership Determine Partnership entity
Determine the entity that you'll use for Partnership. Often this will be an LLC, but meet with your Entity Attorney to discuss what might be best for your unique situation.
ASAPAsset ProtectionLLCPartnershipsPartnerships - SetupUltimate Nomad ChecklistWeek 2
- Partnership Read Operating Agreement
Read through your LLC Operating Agreement.
Highlight sections you have questions about. Write down any questions you have.
Mark this task complete once you've read your Operating Agreement and marked up any sections you have questions on. You will be meeting with your Entity Attorney to get your questions answered in another task.
ASAPAsset ProtectionLLCPartnershipsPartnerships - SetupUltimate Nomad ChecklistWeek 2
- Partnership Meet with Entity Attorney to review Operating Agreement
Once you've read through your Operating Agreement and highlighted sections you have questions about, bring your questions to a meeting with your Entity Attorney.
Mark this task complete once you understand and feel comfortable with your Operating Agreement.
ASAPAsset ProtectionLLCPartnershipsPartnerships - SetupUltimate Nomad ChecklistWeek 2
- Partnership Search LLC names
Search for available names for your LLC on the Secretary of State website.
Mark done when you've found a name that you can use for your LLC that is not already being used.
ASAPAsset ProtectionLLCPartnershipsPartnerships - SetupUltimate Nomad ChecklistWeek 2
- Partnership Determine LLC name
Once you've looked up names on the Secretary of State website, decide what name you'll use for your LLC.
Mark this task complete once you've decided.
ASAPAsset ProtectionLLCPartnershipsPartnerships - SetupUltimate Nomad ChecklistWeek 2
- Partnership Register LLC with Secretary of State
Important note: your Entity Attorney may do this on your behalf if you've hired them to create your entity.
Otherwise, register LLC with the Secretary of State by completing Articles of Organization. Save a copy of your Articles of Organization to your Partnership folder in Dropbox.
Mark this task complete once you've filed Articles of Organization.
ASAPAsset ProtectionLLCPartnershipsPartnerships - SetupUltimate Nomad ChecklistWeek 2
- Partnership Subscribe your email to LLC record with Secretary of State
Make sure when you create your LLC that you subscribe the LLC record via email so you can receive email notices when your "Periodic Report" is due, etc.
ASAPAsset ProtectionLLCPartnershipsPartnerships - SetupUltimate Nomad ChecklistWeek 2
- Determine your Entity Attorney
For most Nomads you will not be buying in an entity. However, if you're buying as a partnership or in some cases if you're buying a non-owner-occupant rental property you may want to consider buying in an entity like an LLC. Buying properties in an entity complicates financing the property.
If you're buying in an entity, determine which Attorney that specializes in setting up entities you will use to setup your entity.
Ask your Real Estate Broker for a recommendation.
Mark this task as completed when you've determined who you'll use to set up your entity or if you're not buying in an entity for this purchase.
Asset ProtectionDream TeamDream Team - Pre-ClosingUltimate Nomad ChecklistWeek 3
- Partnership Open Partnership bank account
Open bank account for Partnership.
You will likely need the Operating Agreement and/or meeting minutes to document your authorization to do so.
ASAPAsset ProtectionPartnershipsPartnerships - SetupUltimate Nomad ChecklistWeek 3
- Determine your Contract and Paperwork Attorney for Post-Closing Paperwork
If you're going to have your Lease (or any other paperwork you might sign) reviewed by an Attorney before you use it, you may want to determine who that attorney will be.
This attorney will also probably review your Contract to Buy and Sell Real Estate.
Ask your Real Estate Broker for a recommendation.
Mark this task as complete once you've decided which Contract and Paperwork Attorney you will use to help review your legal documents or if you're qualified to review them yourself.
Asset ProtectionDream TeamDream Team - Post-ClosingLeasePaperworkUltimate Nomad ChecklistWeek 54
- Class Watch "Asset Protection 101: Overview for Nomads" Recording of Live Class
Watch the recording of the live presentation of "Asset Protection 101: Overview for Nomads" available on:
https://RealEstateFinancialPlanner.com/asset-protection-101/
- Class Watch "Asset Protection 102: Document Examples" Recording of Live Class
Watch the recording of the live presentation of "Asset Protection 102: Document Examples" available on:
https://RealEstateFinancialPlanner.com/asset-protection-102/
Asset ProtectionClassesPaperworkUltimate Nomad ChecklistWeek 23
