Initial Call 2023-12-16

…Hello Rich speaking. Hi Richard This is Glenn Ritchie…There we go. Sorry I had my headset on remote. Oh not a problem. How you doing? Good Is this Glenn? Yes. Hey Glenn It’s Rich Nice me too same here Same here Digitally…Yeah Exactly. I just had some questions. For both the basically about your background and, you know…Yeah. How long you’ve been doing this type of thing. Sure. Okay well my background is…more on the business side of it…My partner Rob Lambert is a he’s a retired USC law professor the Todd Asset Protection. So…He he does most of the legal side of it and I do most of the business side of it. So Okay. So although I’ve obviously because my partner…picked up a ton of it but if there’s something that’s yeah something that’s a little outside of my wheelhouse then you know then we get Robin involved So…Mhmm. Mhmm…What else? so you’ve been doing it a while or is it basically a new manufacturer? Yeah So the…I started the original, asset protection was for was for myself personally, which is also how I how I got involved with Rob and that was back in…twenty thirteen so a long time for Little over ten years now. Yep And and that was a re as a result of a divorce that had gone really really badly. And because I had set things up completely wrong as Rob pointed out to me. It’s fine It’s just like And how old how old is he Is he a very old person? Rob is…Eighty two No? Yeah I figured it sounded like it’d be an older Yep. Person. Yeah Okay…And you were saying He’s born nine born in nineteen fifty So…Okay Three. So Alright…I’m and I’m sixty And I and I’m sixty So we’ve both been around the block a few times. Same age I’m the same age as you actually. Very good. Yeah Nineteen sixty three yep That’s me…So you were saying…So you got a bad divorce and you got into this line of work you thought that it would be a good idea Okay? Well it was so I I originally met Rob with the intention of you know so…The way I had set up my quote unquote asset protection prior to my divorce was based on what my corporate lawyer told me to do. And it worked great against…litigation…or any but it the way he set it up, stupidly. all I can say of that now was he decided to put all of the all the liability companies that we had At one point we had thirteen different businesses. All the liability companies were in my name and all of the asset holding companies were in my wife’s name So what happened was when I left the marriage…I had a large industrial coding business, and my now strange wife became my landlord. So you when it was first set up it was a foreign trust in the very very beginning…with your first…No No No And that at the time I didn’t know anything about that So when I Okay. When when the when the pardon the expression should hit the fan. I realized I’d I realized I’d done everything wrong I said okay It’s got there there has to be a way that that people with money are protecting it from stuff like this And that’s when I I you know ran into Rob and he we he looked I looked at his background yet You know what he’s doing and you know literally taught passive protection at USC. And he looked up my…background having multiple businesses and we said alright you know we should because the reason I ran into Rob was I was getting quotes setting things up and they were ranging anywhere from forty to a hundred and twenty thousand dollars And I’m like there’s no way I knew it was being done I’m like there’s no way this should be this much. Like Mhmm I I was thinking funny And then and then in talking to Rob he’s was of the…is of the opinion that that the the…US universities turn out about a third more…attorneys per year than than the country can possibly absorb. Mhmm And then as a result he has a real hate on contingency fee lawyers. And we discussed, my situation He said you know would it make sense to you for us to partner up and…provide the service that you need to other you know to to guys like you like as it appears through the ringer. Built the business, got a family and lost everything because the court systems just penalized the hell out of meeting guys A lot of lot of downfalls. Yep Yep and and that was how it started And then from there we…I get I get your idea I get you pulled. Yep And that’s that’s what we do Not to go back and not to keep going back but you got my curiosity up The first when you were first married you said you you were…you had all the liabilities and she had all the assets That’s the way it was written in the in what type of it was a of of domestic trust or was it just legal papers? No There there was there was no so when when so the the one that cost me was my second marriage So what happened was my first wife…Every every time I did something she came back and said I want more money And so we went to my corporate lawyer…Go Yeah And and said alright How do I protect Joanne my second wife and I from my first wife? And he said oh well we do we create you know what we do is we move we create you know a number of different…essentially. And you will own all the corps that have all the liability but she’s gonna own all the assets So she will own the the properties that the equipment, all of that Therefore there’s there’s nothing in these liabilities and companies for you to loose. Okay? It worked great against my first wife. But when it when I decided to leave my second marriage, it literally bit me in the ass the way he’d set it up. And then that was when I said okay That you know and that’s when I found Robin He said that there’s no way that your corporate guy should have set it up like that That was stupid. there was no request There was no nothing So Okay So when you went to If you don’t mind me asking because it’s very curious. When you went to when you went to, get the second divorce…She…found that…how did that or your first one Mike was notified? Or how did that how did it transpire? No So my everything everything at at the time I left my second wife was was fine with my first like everything was done There there was nothing left for my first wife to go after Right But my second wife now owned like she she was sole shareholder director, president and secretary treasurer…of all the companies that held the physical asset. Okay. I was the sole shareholder, sole director and president and secretary treasurer. Of all the companies that had all the liability like all the operating companies. So they own no assets at all. and then they would just you know I would for example my industrial coding business would would do a job It would get paid We’d pay the employees and then the profits were paid out the holding company is in the form of, rent leases that kind of thing So the money flowed from so my my operating company has never made a profit the money went into the holding companies which she controlled. So as long as the marriage was good everything worked Okay. It was when the marriage didn’t work that everything went to hell So Yeah. And and…did now your so then did she so that is she is the one who foreclosed on you The Second wife Is that it Yeah Yeah She’s well first off she sold a bunch of she sold. So I don’t know if you’re not familiar with industrial coatings but A little bit Actually actually Actually, I have the I have the co the concept I what type of items did you which type of items? polyureus polyurethanes, vinyl esters epoxies…all all the all the nasty stuff. Okay Yep Okay Alright. What she did literally was we had a we had a two and a half acre property that had, obviously the the production building all the air handling equipment and everything else. And our our neighbor, had been which is a…a construction company had been trying to buy the property for years And we just kept saying no. Okay. And then of course as soon as we split she went to them and and sold the property without me knowing And…Oh okay I got you We sold the property You got thirty days to vacate And I’m like Are you insane Like you can’t move a coding business in thirty days There’s Right. Like I have to I have to order two million dollars worth of air handling equipment just to…So she destroyed It was that big Yeah That big It was that big Bigger big yeah Yeah We were we were doing five to seven million a year. Wow And you know it was great It was make you know was making you know a little over I was taking my salary out and we’re still making a little over a million dollars a year with it But…She destroyed that business Like just absolutely destroyed it. And you know and left me with whole ton of debt and a three hundred and thirty five thousand dollar tax bill So…I’m not doing I’m never gonna do this again I will probably find somebody else…and it turns out I did But I said there’s no way I’m gonna go through…all of this again and that was when when I just started doing my research found Rob and then Mhmm. Created this business So…That’s that’s pretty bad…It was a learning experience I’ll just leave it at that. Yeah Yeah I don’t know how you recover from those things I mean bad enough but something like that It’s pretty serious So…Yep And well you just you do You do you gotta do and you know fortunately I I for you know because I have kids and grandkids and…you know it’s like, well I can I can I can either be a bad example for them or I can be a good example for them So just to be a good example So…Okay well, I understand that for sure…So…that’s your background That’s how you get started…And, like to as far as having the you know usually go through a lawyer for this type of thing…Is there any reviews or anything as far as that Can you just tell me anything about you know, having confidence that the product will be equivalent to something…from an attorney that has a you know, give us some kind of information on that That’s really most of the questions i have a couple others but Okay. And and that that that’s fair so did did Tain explain…what we do and why we do it or no? What he as as far as I understand well let me yeah Let me explain No He didn’t but I have some background in I’ve looked into this many decades ago when everyone thought it would be was insane and that there was no need for it And it was costly. And…I had a completely different state of mind from many for many many years. And now it’s basically, becoming apparent to everyone. So…I do understand the pretty much the structure. And…one of the prohibited…issues was at the time, I recall…they said the safest jurisdiction was Cook Islands and there was maybe another…I’d have to think about it but there’s some maybe one other But places like Belize…were less…they weren’t as good Let’s just say They weren’t as good as say the Cook Island They so the costs each year to…maintain the trust or to fund the trust gets maintained It would be service it. was cost prohibitive pretty much because it was quite expensive. So that all being said yeah I have a little knowledge from the past. Okay not if you wanna continue. Okay. So, and then and we get that a lot It is you know how safe is the jurisdiction. if you’re gonna go and live there, it’s like it would be like saying I’m I’m moving to Chicago. There are places that are perfectly safe places you wanna live and there I purchased Chicago you absolutely would not want to walk in dayton or night And it’s it’s the same thing…The from a legal perspective. So and and again, The structure is that we create an offshore LLC first. Mhmm And the membership interest of the LLC is owned by the and that is the only thing that will ever ever ever go in the trust. Mhmm So the man the management of the LLC…remains with you…All of your assets…Mhmm whether that be real estate cash stocks bonds, it just shares whatever it happens to be All of that goes into the LLC. Correct Yep. That’s right So…you you literally are able to control everything without ownership so what you can’t own can’t be taken from me. Right. The trustee essentially does nothing. Mhmm Literally. Like there’s nothing for them to do…The trust is is done in such a way that there’s no bank account So, as far as tax wise everything is tax neutral. So you still you do it for you know obviously…you know I assume your still reside in the US. Of course Yes…Yeah So you you do have to report it. Yeah. But as far as…as tax goes everything flows to you back because the LLC is a is a pastor…And so there’s no tax consequences good or bad You know what I mean It says a business saving tax Mhmm. Flat Flat No Absolutely not for not sake tax…Right now as far as the jurisdictions…you know whenever it says well is is you know or it’s Cook Island’s the safest. From a purely…technical point of view, yes. So point blank gaddis And the reason is because of part of New Zealand. So Because of what did you say? It’s it’s governed by New Zealand. Okay. So it may it follows New Zealand law. Now the other the other two jurisdictions that that come up most of the time Arnevis and Belize. No…That’s Like to Cook Highlands…those…those are all former British colonies They are all based on Commonwealth law and they are all English speaking. Mhmm. Okay…I have my LLC…and trust in Belize, not because I plan to live there I don’t. it’s nice to visit I don’t wanna live there…but the reason is that the there there’s there’s a couple of of clauses in the…international companies act that…for Belize…make the…really don’t there’s no benefit to going to the Cook Islands unless you just wanna go there or if you wanna spend more money But…so the the clause in in in believes that I particularly like and the reason that I side to put mine there was…if someone does decide to try and go to Belize in order to sue me. Mhmm So meaning they’re gonna sue the LLC…because I manage it Mhmm So under believe under believes in law the first thing that happens is if there is any kind of of litigation or duress that is announced or or or started. I’m required by Belizeian Law…And again this is a legal requirement for me to step down and hire an emergency manager. Mhmm. So at that point I cannot be compelled…if I if there’s a judge if there’s a judgment in the US the judge cannot compel me to send money from the LLC because I’m no longer the manager I was required to step down…as soon as the proceedings were filed. Secondly, so let’s say you decide you wanna come to Belize and you wanna sue me for a million dollars…Under Belizing law, you have to travel to Belize in order to file You cannot do it electronically. And in order for you to file you must deposit with the court…an amount of fifty thousand dollars or half of the amount that you are suing before which in this case would be five hundred thousand dollars whichever is greater. Mhmm…So I see I see the point…it it I’m sorry Go ahead Continue. Yeah And and in the event that somebody does decide to sue the trust, that there are clauses in the trust document…that, if so…in in foreign jurisdictions it’s usually called a Mariva injunction…If somebody tries to file that against the trust the trust documents state that the trust must be moved to another jurisdiction…And So that jurisdiction that you move it to would be like Cook Islands? Could be yeah Cook Islands, NEavis…And that is because…and that is because…it would be the…the legislation there is even more difficult to pierce Or what is the reason that you make that move in and not at the Cook Islands to to start with…Well the reason the reason you do that is because if someone is litigating against you and you move the trust to another jurisdiction, that start all over. And if they move to the new jurisdiction you just do it again. Okay. Do you have three like three places sounds like you have three places. There’s…it you you would move it anywhere that the that there is, adequate trust legislation so you could move it to the Seychelles you could move to Gibraltar to Jersey, Nieves, cook on it Like, you’d there’s a…there’s two dozen countries you could move it to. And then if they did if they’re that business At some point you would just go back to Belize and start over. Mhmm You can do that. The only reason that I would be doing this is for basically…due to the times not so much the normal person that would litigate but the government is more apt to be the person. So they will spend anything and they’ll chase you for, if needs be you know but, if they’re just trying to collect…confiscate your assets for no…real reason other than desperation…Well and So one of the things that that when I when I was looking at this for myself and I was talking to Rob about it I said well I believe. and Rob Rob right now is in Utah but he normally lives in bullies full time. Okay and…in in as part of his past…he was hired to consult with the IRS to go after someone that had a four hundred million dollar, tax bill from the IRS…And the reason that he is as impressed with Belize as he is is because when the When the IRS looked at the number of hoops they were gonna have to jump through just a file in Belize, they dropped it. I must have been a long time ago though Correct Must be it It was wild Yeah. Yeah Yeah And but it’s never happened It’s never happened since. And and essentially there’s two reasons One of which is it was just a really onerous process. Mhmm And at the time the legislation wasn’t even as strong as it is now. Okay But if they if if the IRS or any other tax agency were to go and belize and lose…Mhmm It would open this location. Yeah. Yeah So they don’t wanna do it. Does someone of the so I at any time I would not…manage the trust Someone else is man would manage the trust? Yeah Be well and and you have to have it that way so that there is…you’ve got the insulation between you and the court If you manage the trust…Mhmm And and a a judge…orders you do something. Correct And you can do it Yeah But how do how does this get paid each year How much does that run to…a manager manage the trust Right now for the LLC and the trust. it is We don’t we don’t bill that That gets billed to you Drake but by the trust company and right now they’re twenty eight hundred a year. Oh it’s twenty eight hundred a year Okay. And Cook Island was much much more than that wasn’t it I think? it’s double. Double Okay…Like the commercial real estate All three So…yeah We do all all three jurisdictions so but It’s the…the wrong and Rob being a, you know being a law professor He’s he’s read all of the…all of the acts that Mhmm That give you a protect You said belize is belize is the the international companies act in Belize is the strongest one of the bunch So and it’s the cheapest. So why wouldn’t why wouldn’t we use it Okay So that was why I went there. I see I see The LLCs, I if I have an LLC domestic now, would the LLC be a foreign loan…would being a different country? At this point if you had if you have an LLC you would just transfer the…the membership interest in your current LLC to the Belize LLC. Mhmm And then profit wise for taxation that money would still flow right back to you. But the Belize LLC and the Belize Trust…I’m not restate the question I’m not sure what you’re asking Because if I you said you would just you said you would just take your LLC and put it up in a belize LLC. Did you mean it did a belize LLC and then a belize and then in a belize trust…Yeah So okay So we we would so I have a Belize trust, and I have a Belize LLC. Right All of my assets own like the membership interest and all my LLCs are all owned by my Belizean LLC. Yes. There’s nothing else into the and then it goes into the police trust No…No It…Yeah You don’t the only thing that is in the trust…Mhmm Is the membership interest in the Belizean LLC. Okay. The So that it’s an it’s it’s an umbrella, but you’re not transferring the assets into the trust You’re only transferring the assets into the Louisiana LLC. And it in turn is owned by the trust. So the whole LLC doesn’t go into the Belize trust. Just the…just the what? Just the just the so you you you know the difference between a a member managed LLC and a manager managed LLC Correct…No Go ahead If you could Okay. So there’s there’s two kinds of lacies There’s there’s member managed, which means that you as the member managed LLC. Yes That is not that is not what you want You want a manager managed LLC. So that the membership interest, the actual ownership goes into the trust. But as the manager, you control all the day to day operations of the LLC not the trust. Okay. So that that is how you retain control of everything. Without ownership. Okay. Okay I understand If you if you remember the old the the quote by…Nelson Rockefeller which is you know the way to wealth is to is to own nothing but control everything. Yep Yes This is this is what he was referring to. Basically Yeah Definitely. I see…as far as commercial real estate, Mhmm in the United States. Yeah Does that get put into that LLC as well And you’re just the same way or not really…Yes. Is the short answer. real estate is always the tricky one because depending on what state it is in. California being the worst. Okay Is that there are…many occasions where…a judge will say, yes. you I understand that your…Your property in Long Beach is owned by an LLC which is owned by an LLC in Wyoming which is part of a trust in Nevada, but I don’t care I’m seizing the property. Mhmm And they and they will do it it’s just you know and and that unfortunately is one of the problems with the legal system right now is that there are judges that simply set aside the law. And you know they will just take your stuff because they can. The advantage of…And it it’s it’s more difficult with property which is already owned because the…the trail is there to show ownership. And even if you move it, the past trail is still gonna be there If you’re under oath and they ask you what you’ve done you gotta tell. Going forward though, is you can now, you would use your you would create…an LLC in in like a a state like Wyoming or Nevada or…possibly Delaware but doesn’t make really a sense for that But say let’s say Wyoming. Okay And then the LLC in Wyoming…would create a member…manage LLC in whatever state the property is located in. Mhmm…Now what happens if somebody looks at so if they want to run your name like they go and looking for Glenn…Mhmm well the property doesn’t show because Glen’s name isn’t anywhere on it’s not on the tax roll It’s not on the LLC and it’s not in Wyoming. All they would see is…they would see that ultimately there’s this bully there’s this LLC in Belize…owned by you know it’s called the…red cardboard box LLC for example. Mhmm And they can’t tie that to you because your name is not on it If they go to Belize to look, All the all the government office in the lease is gonna tell them is that that LLC is is owned by…a trustee at Mayfair Trust and you’d have to go to the trustee to ask and then the trustee will of course tell them to get lost. So there’s there’s the privacy aspect in as far as…now they can’t attach you to the property. And Even though excuse me Sorry. They would not just assume I guess you can’t just assume but the pre if you look at the chain of ownership you would just see previous owner most likely because there was no record of sale. But I guess they don’t go by that Is that what you’re telling me? Yeah So if so you can but again they they will see it And then they’re gonna and then they’re they’ll say okay Well where’s the where’s the transaction we’re CashCO And then and then they realize it’s a…it’s an internal transfer And again if they if they ask, like if you if you get holding to discovery you’re under oath Mhmm You have seldom the truth. Mhmm. So so that that is the drawback to to presently own real estate whether it be like commercial property or like a rental property that kind of thing i see. But the only way is to sell it. If you really wanna be patient? Yep. Correct. all although if you can encumber it that’s the other way. So Alright I remember running into that years ago and that was one of the options that’s I was re…researching many years ago. You could actually there were companies in other countries that would help you encumber it. That’s what I recall. There is. and the the proper term for that is equity stripping. Yes That’s right. The and again if you it depends on on how good the opposing attorney is. So if I were if I were if I were suing you for example…Mhmm because I know what equity stripping is, I could go to a judge and say look This is a this is a bogus transaction. this is all paperwork to show that there is a lien on the property…And I would like to know from the depend from the defendant what he did with the cash that he got from the property. And the answer would be I didn’t get any cash. Mhmm and the court will see through it for what it is It was strictly a way for you to prevent me from getting be. Now if you if you do if you do actually go and get a mortgage. So let’s say let’s say you have a property that’s worth a million dollars and you go put a half a million dollar mortgage on take the cash to have money and reinvest it. That’s totally legit Now now you’re fine because you actually have the cash you can show that the chain of where the cash moved and I went and invested in, this this fixed bond in Singapore and I can’t cash it out. And now you protected half of your half of the property. Right So there there are ways to do it but the the…the…on paper only equity stripping is a…really dangerous…way of trying to protect it Because if what happens is that the judge sees it for what it is, now all your credibility goes right out the window. Okay. They they will not trust anything you say after that. Okay So we we Rob and I are both of the same mind. We absolutely will never ever tell anyone to use that tactic. Unless they reinvest it would’ve say reinvest the funds. Yeah Well and if you’re getting the money now it’s now it’s a legitimate tactic But what happens in in equity stripping is they they register a mortgage. Mhmm And they put the actual…the actual mortgage on they fund it They will fund the proceeds but they put it in an account that you have no control and can’t touch. Mhmm. So you do believe in equity stripping if it’s done correctly Is that what you’re saying Oh yeah Absolutely. Yeah That is that is a great way to get the property Yep But you gotta do it legally Yeah Sounds sounds good though The the shell game is not the way to do it app it appealed to me many years ago. Interest rates on that must be quite quite high at this point. Would it be…to do that It well it can be But there’s two things to consider when you do that One of which is if you’re investing in, if if you think of it this way so let’s say you can get a commercial mortgage for…let’s say eight percent. you can get T bills at five and a half So you got a two and a half point spread. But your interest that you pay on the mortgage is also tax deductible. Mhmm. Mhmm. So so really it It’s pretty close to being a wash…Okay. And if you think you can do better than a T bill well now you can make money. Mhmm. So what I what I used to do before my before my divorce was we would we would buy property…You know usually usually distressed. Mhmm We would…do some improvements to it. Wait six months, have the property reassessed at the new value. Mhmm remortgage it pull out the extra cash and and a lot of times that brought us up to, you know very close to a hundred percent of what we had paid for it and reinvest that cash…into yet another property and rinse and repeat. that worked really really well for us I made several hundred thousand dollars a year doing that. so it is it it’s it’s more difficult in today’s environment because of the Yeah Absolutely. The way property has been. Right You know accelerating. Although I think the lack of lack of funding Correct I mean the lack of bank funding, it should be pretty tight right now. So that’s why I asked would this be would the funds come from another country Do they is there a from what I recall from the years past? I thought the funding came from another country Is that still true? it could be you won’t get as you won’t get as high a percentage of the value or as good a raise if you stay domestic…Where where the money comes from isn’t really important If if you went to Yeah. Chase and they gave you a mortgage Great No problem Long as you’ve got the Okay as long as you’re reinvesting the cash so that it it it makes let’s say it gets an investment…Now you’re now you’re good And then the whatever interest you are gonna pay on that mortgage is tax deductible…But and that that’s a hundred percent legit There’s no there’s there it’s not even That’s not even great That is a hundred percent. You know, no questions by courts or IRS or anyone This is the very normal part of business. Okay…as far as the price of the fund the trust I mean, is there any room on the price of the trust…Are you now are you looking just for a trust or also for the LLC…Well the LLC yes The LLC is So the the whole because I have domestic because I just have domestic. Okay. So the…and and I’ll you know hopefully my cards are here So we make about thirty five hundred dollars on when they when we charge the ninety seven hundred. our what what Rob and I make which we split is thirty five hundred And right now we’re also, in So we normally bill for this Right now we’re including it as we will also go to Key International Bank which is a bank in…Belize. And open an account for you and that cost us twelve hundred dollars So is there room? Unfortunately not…And…Like we’re we’re a quarter of the price of a lot of places anyway So That was that was part of our part of our structure was we wanna try and make this affordable…The So when you open up a bank account in another country do you report to factor down the factor or is it the how does that work…You mean as far as like funding it? What’s that please Is that what’s that? I didn’t I didn’t catch the question. Factor reporting? For a for a…bank account outside of the country? Usually you you will have you do have to report it Yeah. Right Yeah But I mean is that on the tax return that’s just on your personal tax return? Yep. Correct Yeah Okay. Sorry I thought you said factoring and I’m like I don’t know why you even wanna fact yeah So you said fact you said fat cut Got it. Sorry No. No No problem I got it. Okay. So…is that…is basically…all there is to ask you…Oh if I if I had two…two trusts to be made could you do anything on the price…No one’s ever asking that. I’d have to check with the you and see if there’s so for sure why would you want two though? because if I could bring another person in as well I mean if I know someone that would do it that would need…Okay What was it I mean I think you can do something. Yeah I’d be happy to ask I’m you know like from from our end, you know from from Rob and I it’s the same amount of work because we we now have to, you know, go through and create a second set of documents…So that doesn’t change…excuse me…Just trying to get over a cold. That’s okay There yeah You know I’m I’m sure it could figure something out I would just have to check to with the trustee and see what what happens on their end If it’s You know I…the the trust office is in Belize City. The government offices are in Belmapen so you know one trip versus two That would be a saving there for sure Mhmm…But, yeah I I I don’t know that it would be substantial but sure Absolutely…Okay…I think that is all I have for you. is there anything else I guess I’ll send you an email and we can go from there. Yeah…do you have any questions? No You’ve you’ve asked pretty much all the good ones, which is…you know you’ve obviously done your homework which I appreciate because you know on some calls that they have no idea what they’re asking me So I don’t use it this was this was a pleasant conversation I really enjoyed this because Oh good Good You did you did ask good questions So I’m glad to get you and it’s already interrupt you But one final question and then you should continue with that. Mhmm. If the if we were to proceed and the trust was made…Yep reviewing the documents. Is that something is that is done together in some, you know online or…Yeah Explaining the documents. Yeah so that is that is we definitely will go through the entire document with for both of them both the LLC and the trust with you…I will be honest. It will take probably four or five hours I don’t recommend doing it all at one sitting. So typically what we do is we’ll we’ll break it down into four calls two for the two for the trust two for the LLC…Once we’ve gone through the documents, I do recommend that you take the documents show them to your lawyer your accountant and your estate planner, and make sure that they don’t have any questions before you proceed. Mhmm. Okay. And do you have any other…projects…let’s just say or do you are you in the XVAC community the thing where you, it sounds like you kinda have one foot outside of, you well you used to reside in the United States…years ago I’m in Canada right now and I’m in the process of we’re actually my wife my current wife and I. Are exploring moving to Malaysia. Oh Malaysia. Is there a reason you’re going you’re going that to Asia…Change a scene It’s a big one. the other thing for, for us is obviously tax reasons. Uh-huh And would you say the first reason was I didn’t catch that. just change the scene It’s we’ve changed the scene Oh okay We’ve I’ve I’ve…I lived in Arizona for a number of years I enjoyed it. but, I find that…particularly in Western countries right now Things are in in my opinion They are completely going the wrong direction and I wanna…Absolutely. Absolutely and you know the this whole thing with, looking at the transition to Cbdcs, and Malaysia is pretty much a cash economy I’m like yeah I’m I’ve…time for a move. Yeah I hear you You’re not interested in Latin America…no. so the you know my my citizenship’s Canadian. And here taxation is by residents…which means I can I if I…leave and I have tax residents elsewhere I can actually…get myself completely out of Canada’s tax net which…is obscene…and, US is bad, Canada and a lot of you know, your any Western European country that I might consider moving to is worse. So, it it’s Yeah And the other the other part of that is…my divorce, essentially wiped out the major part of my save like my retirement…Mhmm And I don’t know if you’ve ever done the exercise of taking up a a…spreadsheet and…probably heard it done but you take like a penny on day on day one and then double it to two cents to four cents Right? So I I did it and I did it And this is my my financial planner told me to do this So I at day thirty…It’s five point four million dollars. Did you did that? No No No You just said, do it on the do it He said he wanted to make a point about half. Okay So so we did the exercise after thirty days it was five point four million dollars. Mhmm And then he said okay So now let’s end the column right to it Let’s do the same thing but we’re gonna take forty percent off the gain each day…So you said what do you think the end number will be at the end of thirty I said well okay So forty percent tax probably be…compounds…maybe a million. And it was eight thousand dollars And it shocked me just how…badly, the tax system prevents you from building wealth and that was when we made the decision to give. That was the final straw…I don’t blame you. Yeah And it’s yeah I’m like, you know I can I can grow Yeah. I can…I I didn’t believe it until he showed I I thought you did something wrong He’s like nope He said check my math and I checked his math and I’m like, Wow…Unbelievable that’s where we’re that’s this is where we stand today. What Yep. If you own any…brokerage accounts, they’re at risk. And not only that but I mean with this bail in situation if something systemic happened, Like, what does that mean The whole thing is lost? well and and that’s so one of the things about…about leaving This is one of the things that’s taking a little more time So…you have to file a form It’s it here it’s called n r seventy three with with the Mhmm Canadian tax people. And they…on the day that you leave they will assess, what your what your assets are and you have to pay an extra tax. So we’ve been in the process of…selling assets…converting things to cash and…moving into…moving into ways…that…aren’t gonna affect me negatively on on exit. so I’ve been doing things for example with setting up annuities for grandkids that kind of thing So so the cash is getting used but it’s not for my benefit. Mhmm And also…buying real estate…in Asia, through a couple of real estate investment trusts So So you’re well on your way You’re well well. You’re about how far would you say you’re fifty percent out fifty percent or more Yeah I’ll I’ll be by this time next year I’ll be out for sure No no question about it. Mhmm Good. Very good. Alright Well, it was great talking with you. You as you as well? What would where would you like to go from here And what do you need from me…Give me a couple of days to think this through If you could talk to Rob Is it? Sure Yep But what you you know was just potentially…some savings there. Yep. Okay Let me do that Because I’m sure a lot of things would be, you know exposed a little more quickly because you’re doing two at the same time. Sure But as you were saying go on…If you could do me one small favor, if you could just quickly draft out an idea of And you don’t have to be specific But if you sent me an email it said you know I have I have two commercial properties, that and where they’re located You know one is in New York and the other one’s in Mississippi for example…that’ll just give me it’ll let me wrap my head around exactly what the fracture needs to look like. Okay. And then I can review that with Rob as well and we’ll just make sure that you know we’ve got everything correct…Okay. Alright I’ll get that email out to you soon Sure Sounds good. Alright Very good talk to you soon yeah If there’s any other questions or you you know if you’re like me the like three in the morning you’ll pop awake with them Why didn’t I assist So Yeah Just just send me an email or you can text this number as well It it comes right to my phone as well okay Very good. Fantastic. Alright I’ll talk to you soon. Not a problem Appreciate it Thanks a lot Thank you Bye bye You bet Bye now…