In this episode of the Buried in Work podcast, host Adam Zuckerman sits down with Scherrie Prince, an attorney and asset protection coach. Scherrie specializes in helping entrepreneurs merge their business plans with their estate plans, building a strong defense around their assets. With over a decade of experience, Scherrie shares valuable insights into protecting your financial legacy and the importance of proactive planning for both personal and business assets.
From her personal journey of growing up in Mississippi, to experiencing firsthand the pitfalls of inadequate estate planning, Scherrie’s story is both moving and informative. Listeners will discover the essential steps needed to protect their business, understand the key differences between trusts and wills, and learn how to create a succession plan that ensures continuity for future generations.
If you’re an entrepreneur or business owner looking to secure your financial future and avoid common pitfalls, this episode is packed with actionable tips you can start implementing today.
Key Topics:
• Asset Protection is Crucial: Many entrepreneurs overlook the importance of merging their business and estate plans, leaving their assets vulnerable.
• Identify and Classify Assets: Knowing what you own, your liabilities, and how to properly classify personal vs. business assets is the foundation for effective asset protection.
• Plan for Succession: Having a clear succession or exit strategy in place ensures the business continues smoothly, even in the event of death, incapacity, or other unexpected situations.
• Legal Structure Matters: Choosing the right legal structure, such as LLCs or trusts, can provide substantial protection for both your personal and business assets.
• Involve Professionals Early: Building a team of professionals—attorneys, accountants, and financial advisors—ensures that your estate and business plans are robust and well-protected.
Show links:
• Scherrie’s Website: https://scherrieprince.com/
• Follow Scherrie on LinkedIn: Scherrie Prince
• Special Offer: Use code 𝐁𝐈𝐖𝐏𝐎𝐃𝐂𝐀𝐒𝐓 for 10% off Buried in Work’s estate preparation package at buriedinwork.com
• Visit Buried in Work for more episodes and resources.
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