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Brian Y. Chou is an Associate Attorney at the firm of BarthCalderon, LLP and his practice focuses on asset protection, estate planning, and business succession planning. Mr. Chou assists clients in all stages of life, from the young professional couple that is concerned about estate planning for their minor children, to the wealthy real estate investor who wants to insulate himself and his properties from lawsuits, to the successful business owner who is agonizing about how to transition his company to the next generation. Mr. Chou understands that coming to grips with an impending lawsuit and confronting one\u2019s mortality is typically not high on most clients\u2019 list of things to do and his goal is to make the planning as accessible, digestible and (dare we say it?) enjoyable as possible. Mr. Chou seeks to build lifelong relationships with his clients to ensure that as their personal lives and legal situations evolve, their planning continues to accurately reflect their wishes.\n\xa0\n[00:01 - 04:33] Opening Segment\nGet to know Brian Chou\nWhat does Brian do?\n\xa0\n[04:34 - 15:39] Leaving a Legacy by Protecting Your Assets\nBrian talks about pushing to alter estate taxesThe Estate Tax\nHow much does your loved ones have to pay when you\u2019ve passed?\n\nThe Value of Your Property versus The Value of Your Equity\nHow to Process Your Taxable Estates Before You Pass\nWhat you need to know about retirement accounts and taxes\nHow to Protect Ourselves by Transferring AssetsUtilize your revocable trusts\n\n\xa0\n[15:40 - 26:57]\xa0 Revocable and Irrevocable Trusts\nIrrevocable TrustsThree reasons why people don\u2019t like probate\n\nThe problem with revocable trusts\nChanging revocable trusts\nWhen should you start protecting your assets?\n\xa0\n[26:58 - 35:50] Closing Segment\nQuick break for our sponsorsGroundfloor offers short-term, high-yield real estate debt investments to the general public. Check www.passivewealthstrategy.com/groundfloor/ to get started.\n\nWhat is the best investment you've ever made other than your education?Rental properties right after recession\n\nBrian\u2019s worst investmentOil and gas investment\n\nWhat is the most important lesson that you've learned in business and investing?\u201cThe more you give, the more you get.\u201d\n\nConnect with my guest. See the links below.\n\xa0\nTweetable Quotes:\n\u201cFor state tax purposes, the one good thing is it's your net worth, not your [the] gross value of your assets.\u201d - Brian Chou\n\u201cIn a very broad sense, transferring assets now is a great way to reduce your estate tax bill.\u201d - Brian Chou\n\u201cA revocable trust doesn't create any asset protection benefit for you.\u201d - Brian Chou\n------------\nConnect with Brian Chou through brian@barthattorneys.com and LinkedIn.\xa0\xa0\n\xa0\nInvest passively in multiple commercial real estate assets such as apartments, self storage, medical facilities, hotels and more through https://www.passivewealthstrategy.com/crowdstreet/\nParticipate directly in real estate investment loans on a fractional basis. Go to www.passivewealthstrategy.com/groundfloor/ and get ready to invest on your own terms.\xa0\nJoin our Passive Investor Club for access to passive commercial real estate investment opportunities.\nLEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes