Trump University Asset Protection 101
by J. J. Childers
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Book Summary Information
Author: J. J. ChildersEdition: Hardcover
Audio: English (Unknown); English (Original Language); English (Published)
Published: 2007-10-19
ISBN: 0470174641
Number of pages: 288
Publisher: Wiley
Book Reviews of Trump University Asset Protection 101
Book Review: A solid introduction to the topic of protecting your assets from taxes and lawsuits
Summary: 5 Stars
The only thing The Donald supplies to this book is his powerful brand and two generic paragraphs for all this books in this series. There really is no thoughtful forward or anything to do with his insights. That being said, this is a pretty good beginners guide to the whys, whats, and hows of protecting your assets from the various income taxes, business taxes, estate taxes (the death tax), and lawsuits.
The author, J. J. Childers, is an attorney but writes clearly and simply enough for regular folks. The book's 17 chapters are presented in five parts. Part I covers the problem of excessive spending and a too passive approach to paying taxes. You can't build wealth that way. Childers shows you some basic principles on understanding the tax code and ways to use exemptions and deductions to keep more of your money. He also talks to you about the power of having your own business and the right structures to use to manage the risks involved.
Part II covers protecting yourself from lawsuits and carefully explains why this matters to you and matters more and more as your wealth grows. He presents you with some basic principles of using corporations to protect your assets and using multiple entities to match risk and assets rather than leaving all your assets in one pot vulnerable to a single catastrophic suit. Part III cover estates and death taxes. He introduces you to trusts and why they are essential to you and why a will simply does not provide you any protection from probate. Part IV shows you how to think like the wealth. Childers calls this the Mogul Mindset. He also takes you through the process of creating an asset protection team and what professional expertise you simply must have. As the author says, you may think you don't have enough wealth to worry about these things, but when you start adding it up, you can get surprised in a hurry. Don't let anyone simply take it from you because you failed to act.
Part V provides you with various resources such as a list of common deductions, which business structures provide various kinds of protection, a state by state guide to which assets you can protect during bankruptcy and a glossary of business and legal terms.
As with any 101 basic course, this is introductory and you will need to study more and dig deeper to master the topics in this field. But this can certainly get you started in the right direction.
Reviewed by Craig Matteson, Ann Arbor, MI
Summary of Trump University Asset Protection 101
A tax-smart guide to keeping more of the wealth you buildThree obstacles to wealth-lawsuits, income taxes, and estate taxes-can and will destroy the financial achievements of those who fail to properly safeguard their assets. In this book, attorney and tax strategist J.J. Childers lays out a plan for combating these forces so that anyone willing to learn and apply the secrets of the wealthy can do so in a smart, simple, and effective way.
J.J. Childers (Little Rock, AR) is a licensed attorney specializing in wealth structures that reduce taxes and shield assets. He speaks on these topics to thousands of individuals, investors, and small business owners each year. His unique ability to explain complicated strategies in simple terms has made him one of the nation's most sought-after speakers and practitioners on asset-protecting legal structures.
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