What is Asset Protection?
Asset protection is the key to making sure you don’t lose everything in a lawsuit. Asset protection is a strategy used to combat a sue-happy society. It’s based on the principle that assets in your name can be seized by a judgement creditor, and assets not held in your name are better protected. In other words, if you lose a lawsuit, assets held by a limited liability company or corporation don’t belong to you personally so they can’t be taken from you. But you must meet the legal requirements, best practices and filing requirements to have those protections in place.
As you perform your research on how to best accomplish the tasks necessary for sound asset protection, you need to know that there are a number of corporate information scams in the marketplace.
A popular one is the $99 incorporation. We have tested such services to see how they could possibly do all the work necessary to completely and properly form and document a corporation or LLC for just $99. These providers fall into two camps:
Take the Money and Run
The first camp does the minimal work needed to form an entity. They file the articles. That’s it. Once you pay the $99 they will no longer take your phone calls or questions. Eventually you will be sent a document with a state seal on it indicating that you are incorporated, but you will not be sent the minutes, the bylaws, operating agreements, or any issued stock – all of the other components necessary to be a complete corporation.
The Bait and Switchers
The second camp uses the $99 as a come-on. They offer an a la carte menu in which the $99 is just for the filing of the articles. The bylaws or operating agreements are another $350. The meeting minutes are $250, and so on. By the time you are done they have gained your confidence and that $99 has ballooned up to $2,000 to $3,000 for just one entity.
Corporate Direct is Different!
We have one simple fee which includes everything you need in one simple package as well as ongoing support as long as you maintain registered agent service with us.
We offer optional services as well but our initial formation fee covers all of your corporate formalities.
As well, at Corporate Direct you will be assigned a dedicated Incorporating Specialist. Our Incorporating Specialists are extremely knowledgeable and can help guide you as your businesses grow and you begin adding more entities, or working in additional states.
Incorporating Specialists cannot give legal advice, but should you need it, we’ve got you covered there too! Unlike many other companies, we have an attorney in the building. Rich Dad Advisor Garrett Sutton of Sutton Law Center is available for legal consultation for a reasonable fee. (Garrett Sutton is the founder and President of both Corporate Direct, Inc. and Sutton Law Center, PC).
Initial Formation Fee(State Filing Fees Additional)
- All of the Corporate Formalities are covered with one simple fee! Our formation fee includes all of the following items:
- » 15-minute Consultation with an Incorporating Specialist
- » First Year of Registered Agent Service
- » Articles of Incorporation/Organization
- » Bylaws/Operating Agreement
- » First Meeting Minutes
- » Membership Certificates/Stock Certificates
- » Garrett Sutton’s book Bulletproof Your Corporation filled with valuable information and legal templates
- » Ongoing corporate law updates from our in-house attorney, Garrett Sutton of Sutton Law Center.