Jon G. Sanchez, CEO: Good Wednesday afternoon to you. Welcome to the Jon Sanchez Show on Newstalk It's a pleasure to be with you on this hump day, on this day of market gains, on day of a presidential speech this evening. I mean, we had it all thrown in our direction. But all that matters, of course, is the most important thing. How did your money do today? I'm to you all the information on it. But not only going to bring you all the information on how the portfolio did today, in generality, of course. But I'm going to get into a topic that is very very important to everybody. ask you a question. What happen, what would happen if everything built got lost tomorrow because you got served with a lawsuit? It can happen to anybody. Little bit of wealth, a lot of wealth, it doesn't matter. That's the society that we live in. You could get in a car accident and you think, yeah, you know what, I've got car insurance. Well, you're learn, man, maybe that car insurance isn't just quite enough. If you're in business, there's a million reasons that you can get sued. But what would happen if you got sued tomorrow? Well, today I'm gonna be talking about some very important strategies that will legally help you protect your home your savings, and most importantly, your legacy that you've worked so hard over these years to build. From lawsuits, from creditors, and even, you know, sometimes we are at fault from our own bad decisions. Because you see, asset protection, as I said, is not just for the wealthy. It's for anyone that wants to protect their family, protect their assets, and again, protect their life's long work. But I see it way too often that people have no idea of how they can protect themselves. via not real sophisticated asset protection strategies. really is within the realm of anybody. You don't need a lot of money to make yourself almost judgment proof. Well, I'm gonna be showing you or telling you how to do that. And especially you small business owners, you wanna listen closely for you listeners that own real estate, really listen closely. again, I've got some great strategies that are gonna help protect you. Because it's usually, especially if you're in business, it's not a matter of if, but a matter of when you're going to get sued. I guess you could say the downside of our legal system, you can sue anybody for any reason. And unfortunately, guess what? You've got to pay the price. You've got to hire an attorney to defend yourself. You've got filings. You've got all kinds of expenses. And then that's not to mention if you lose the lawsuit. asset protection is extremely important. But again, people think, you know what? I don't have a lot to lose. Well, you do. But I'll tell you one thing that you're going to find out as I go through this topic. We live in one of the greatest states asset protection strategies. Matter of fact, they say there's eight states that the best asset protection. ⁓ And my opinion, Nevada is ⁓ right the very top, if not number one. And that's why so many businesses come to the state of Nevada just to form. their business entity, the corporation, the LLC, whatever the case may be. But did you know that here in the state of Nevada, if you are a citizen or a resident, I should say, did you know that a good large chunk of money, large chunk of money of your retirement accounts is protected from lawsuit? That's right. And again, better than so many other states out there. So can't to get to this topic because I love this topic. love being able to help you out and protect what you've worked so hard to build over the years. So I'll be getting to that momentarily. I don't have a tremendous amount, if you can believe this, I don't have a tremendous amount to say about today's stock market activity. It was actually a quiet day. Yeah, it was quiet. Not a lot of action, oil prices went down, stock market went up, but it didn't start that way. I gotta take you back to early this morning. you heard my stock updates with Ross this morning. There was a true social post that the president put out doggone it, ⁓ just went through true social. I couldn't find it because there's like a posts, you know, since that, the one he posted this morning. But I want kind of give you the gist of it. And the gist of the presidential's post this morning was, well, actually, before I get to that, let's go back to what happened yesterday because it makes today's post kind of make you scratch your head a little bit. So remember yesterday, the president said out of the blue, Hey, you know what? We're going to be in Iran for another two to three weeks. There's not much more we can do. by the way, all we don't care about the Strait of Hormuz anymore and all you countries out there, you go fight over who's going to protect it and figure out a way to get your ships through it and so on and so forth. So just completely washed his hands of Iran over the next two to three weeks. And sat right here at this time yesterday behind this microphone with Aaron and with Dwight. And I said, something does sound right. How do you all of sudden pick up and leave? when nothing really was done other than a bunch of destruction. So this morning, now I fast forward to this morning. This morning, he on this true social post in which he threatened continued bombing of Iran's infrastructure if the Strait of Hormuz is not opened. So basically from yesterday. And he said, we would blow them to oblivion. i.e. back to the Stone Age, he said, they don't open it up. He also said in another portion of the post, that Iran has come to the table, they wanna cease fire. And that was said yesterday. as well as this morning. Well, once again, Iran's saying just the opposite. Today, Reuters reported that Iran denied requesting a ceasefire. An Israeli report said that negotiations, quote, are not progressing in a positive way. Once again, who do you believe? Now, as we all know, and do not change your station because it'll be live right here on News Talk 780 KOH at 6 p.m. our time, the president is going to be speaking to the country in which Politico reported that the president will likely announce a victory over Iran and give his intentions to wind down military operations. Now today he went on, and I won't bore you with all the details on this one, just kind of preparing you for what he's mention tonight. He went on a rant today. about NATO basically ⁓ that United States is going to pull out of NATO and many other harsh words that I won't repeat here. And he wants NATO allies to reopen the strait. So it'll be interesting to see we learned this evening. But I think ⁓ is absolutely right. I think he's going to come out and say this thing was a victory. We're stopping them from building any weapons, which again, supposedly was of his missions of the whole situation there. But it's going to be interesting to see. It'll be interesting to see, of course, what the market's reaction is tomorrow. But speaking of the market reaction, got to be honest with you. This market right now, I don't think it really cares what the president says. This market right now is so convinced that this thing is going to come to an end, way or the other. that they're coming in and they're buying things up. They bought the dips. we saw that yesterday, of course, with the thousand plus point rally, 1100 point rally plus on the Dow Jones Industrial Average yesterday. Strengthen the NASDAQ, strengthen the S &P, broad-based gains right across the board. So this is really starting to show us, however, is we can continue to move up with oil strong. Now, we gave up a dollar and a penny today on oil. We're right at that $100 mark. $100.14. So that's two days now, we've closed above $100 oil. And the market doesn't seem to be paying attention. So once again, I think you have to say, this has been one of the challenges for those of us that manage money during this whole going on five week conflict. I've said this many times, you don't really know what this market wants, right? you'd have news that you think would drive the market down and the market goes up and vice versa. It's very difficult. And again, what this tells me, and I've said this to you many, many times, it's validated. I've seen numerous stories, I read one yesterday on Bloomberg about this. It's the algorithms. Those algorithms, and I'm talking globally, right? Especially with the hedge funds. These algorithms are programmed to do this, this, and this. If this, this, and this happened in the market, or certain things are said on a true social post or a story breaks. There's a lot of different factors that make these algorithms buy or sell. And with this conflict, that volatility has become even greater than I've ever seen in my 36 year career, far greater. Because you have oil that's into it, you have human lives being lost, you have destruction, you have a lot of different things. But one takeaway, at least as we sit today on April the 1st, one takeaway that I can honestly tell you that I'm convinced of is this market's not paying attention to what oil prices are doing, as crazy as that sounds. Because theoretically, we should not have had the day we had yesterday, we should not have had the day that we had today with oil above $100 a barrel. Now what's gonna be interesting is obviously we started a brand new month, so we closed with oil above $100 a barrel. What's going to be interesting is later in this month when we start getting the various economic reports coming in the month of March, CPI, PPI, I mean, you name it, it's now going to have these higher oil prices factored in. So then ⁓ my mind, they're not going to be good reports. They're going to show an increase. Now, Wall Street could give it a pass and say, ⁓ yep, it was because of the short-lived conflict if it's still, you know, if has concluded by the time these reports come out. Or one month doesn't really make any trend. You can take the other side of the equation, go, uh-oh, inflation is up. Let's say we get a hot CPI, we get a hot PPI, we get a hot PCE report, all these that show inflation. And the market can go, uh-oh, these numbers are hot, FED's out of the equation. Because after yesterday's run up and yesterday's headlines that this thing is going to end in the next two to three weeks, now the odds are coming back of least one interest rate cut this year. of yesterday, I didn't see the numbers today, about a 25 % probability of a quarter percent cut by ⁓ Before that, remember, the odds had switched to an interest rate increase, not a decrease, but an increase when it didn't look like we had any resolve. So, you know, like I said, I'll be 100 % frank with you, I'm very skeptical that this is just gonna come to an abrupt end. If you look at the facts, if you look at the number of troops that are there, the number of... military personnel and assets that are there. If you look at the facts that Iran every single day is still firing missiles, and if you look at the facts that is still firing nothing has really changed other than the president coming out saying, yep, Iran wants to cease fire. Iran says, no, we don't. Yep, Iran is obliterated. Okay, they sure seem to be able to still fire missiles quite a bit. You see what saying? I think many of you feel the same way. It's really difficult to know who to believe at this point. But the market right now, that's all we care about on this show is saying this thing's gonna come to an end. Whether it's right, whether it's wrong, it is convinced. And hence why we had the strength yesterday and we had the strength today. I'll tell you what that strength was when we come back. Let's turn it over to Kristen Snow. She's in the Right Now Traffic Center. Hello, Kristen. Welcome back to the Jon Sanchez Show on New Stock 780k which thanks so much for being with me this Wednesday afternoon. Windy Wednesday afternoon by all means. All right, once again after I get to the stock market recap, we're gonna move into our topic, building the fortress, some smart asset protection strategies for you and your family. You don't wanna miss that. All right, so how'd we do? Like I said, good session today. Tacked us onto 1100 plus point gain on the Dow yesterday. Not bad, couple days. Finished up 224 on the Dow, that was a 0.48 % gain. Our closing level was 46,585. NASDAQ, it rose 250 points, 1.16 % to a close of 21,840. And the S &P at 47 points, 0.72 % to close at 6,575. And we got about a 0.64 % gain or 16 points on the Russell 2000. The ever so important oil side of things. As I said earlier, finished down a dollar and a penny, $100.14 a barrel. Gold had a heck of a day, $132.90 rise, $4,812.40 an ounce. And the bond market, she was a quiet one today with just a one basis point increase to a close of 4.32 % on the yield. Now, some big movers today. Top of the leaderboard, we'll put Google there, Alphabet of course. Up 2.8%, $8.04 rise, 294.90. Meta had another strong day after yesterday. $7.10 increase, 1.25 % to 579.23. We saw the semiconductor index moving higher by about 2.8%. Some individual names I picked out, Western Digital. Rising 10.07%, $27.24 gain, 297.73. Micron up $30 in a penny, 8.88 % to 367.85. Our disaster of the day was Nike. Dow component down 15.51%, $8.19 loss to 44.63. Definitely the worst performer they reported after the close yesterday. Earnings numbers that were pretty, the past quarter was okay, but it was the guidance that was very weak. and the company admitted that the turnaround effects are taking much longer than expected. And so no one really stepped in to buy the dip on the stock as the saying goes. We did get three downgrades by the way on the stock. Eli Lilly, as you heard at the top of the hour right here, a big breakthrough day for that company. Stock rose three and three quarters percent up $34.51 to 954.20. After the company confirmed, the FDA approved its new weight loss drug, Foundao. F-O-U-N-D-A-Y-O. Looks like mayonnaise when you look at it in print. That could absolutely revolutionize. mean, we are of course seeing incredible growth in this country with the weight loss drugs and a lot of people not too keen about giving themselves a shot. Well, this could be an absolute game changer if this takes off to other companies especially, that really becomes the way to do it. mean. I know about you. I've seen a lot of people on these there for weight loss drugs and I know there's side effects, but tell you, the results, amazing. Just amazing. it's like I very good news for Eli Lilly. All right, with that you're up to date now. Let's get down to today's topic. So as I said at beginning of the show, anybody is susceptible to a lawsuit no matter how much money, much, how little money you have, matter what you do for a living, right? You can be a nine to five worker working in an office and something can happen and you could get sued. There's all kinds of risk around us, right? Just driving from home to work or driving anywhere, that could result in a lawsuit. Let your imagination wander. ⁓ again, in this country, one thing is anybody can sue anybody for any reason. So you have to always be protected. Unfortunately, we as human beings, and especially those of us that are still in our working years and we're trying to save and accumulate, we're more I should say, on asset not asset protection. Well, I wanna switch that around because if you don't have asset protection first in your life, who cares how much you've accumulated? Because let me tell you, I've known a lot of really good personal injury attorneys and other types of attorneys that make their living suing people. And let me tell you, they will find your assets. And if you lose the lawsuit, they will take your assets from you. No ifs, ands, or buts. Homes, cars, bank accounts, you name it, they'll come get it if they win the lawsuit. Your job is to protect yourself and make sure that doesn't happen. So let's get down to it. What happens again if everything you've built is gone because you got sued? So I like to say that Americans are really one lawsuit away from financial disaster. Again, you don't need to be rich to be a target. You need to be visible. or insured. under some of the most common risks that we have. I'm talking just, again, of not a business owner or high net worth person, but car accidents, rental property liability is a huge one that I see a lot. Again, if you're a business owner, you're a wide open target. And even personal guarantees, right? You personally guarantee a loan, you personally guarantee this, guarantee that, and it goes south, guess what? You could get sued. So those are just a few bullet points I put down. Obviously the list is a mile long. You can get sued for anything. But what does asset protection really mean? Whenever I bring the subject up with clients, sometimes I've had people go, are you talking about really like hiding money? like, God no, that's illegal. I don't do anything illegal, that is not the case. What I'm talking about is managing your assets like the wealthy do. They protect themselves because let me tell you, a wealthy person, again, they've already made their money, their concern is keeping it. They don't wanna lose it through a frivolous lawsuit. So protection really means You're structuring your ownership of those assets properly. And you know, there's a saying in law that says the following, if you don't own it, they can't take it. If you don't own it, they can't take it. Have you ever seen stories, I just thought of this, have you ever seen stories, you know, wherever on the internet or, you know, what a news website or something, a celebrity or sold a home and you know, always want to know what they pay for it, you know. when they bought it, what they pay for it, or what they get for it, when they sold it, those type of things. Have you ever noticed that those, even a personal residence, those assets are generally, it'll say, owned by XYZ Because again, I've known people that their number one goal in life is to be lawsuit-proof, what we call judgment-proof. They don't own anything. And you may look at them and they may have real estate and businesses and this and that and everything else. But in reality, on paper and legally, they don't own anything they have entities that own it. That's how the smart money works. Entities own things. They don't own their real estate, even their primary homes. Like I said to the celebrities, they don't own them. LLC's own them. Businesses, they're either owned by a corporation or an LLC. Bank accounts, mm-mm. No, they don't own those either. And when it comes to their personal residence, because you're somewhat limited unless you get into some very sophisticated estate planning strategies like irrevocable trust and things like that, I'm going to share with you some strategies, what to do to protect the equity in your home. But if you a tremendous amount of equity in your home, the wealthy people, they leave that. Why? Because if they millions of dollars of equity in their primary residence, there's only a certain amount, as I'll share with you, that's protected here in the state of Nevada and some other states. Anything above that's open to the lawsuit. So what do they do? They borrow that money out. So if they've got a million dollars of equity, $2 million more than that, they borrow all that money out. Keep this in mind as when we come back from the break as I start to go through this. What a plaintiff's attorney is going to do. First thing, when they represent their clients, the plaintiffs, they are gonna do an asset search on you. They are gonna dig deep. You can't hide anything anymore. They're gonna dig deep all the public records and social media and everything else, and they're gonna make a list, this is what they've told me, of what you own. And they're gonna start with that list, and that's what they're gonna come after for you. Again, homes, cars, bank accounts, you name it, they're gonna come after it. But when you get served on the lawsuit, you have to legally list every single one of those assets. If you don't, you're gonna be in trouble with the courts. So again, there's really no way to hide it. So that's why again, if you don't own it, they can't take it from you. All right, when we come back, we'll talk about our first line of defense in our asset protection strategies. Let's turn it over to Jack Saban. He's got news, traffic, and weather. Hello, Jack. Welcome back to the Jon Sanchez Show with News Talk which decent day today, 224 gain on the Dow, Nasdaq rose 250 and the S &P higher by 47. Markets in the country anxiously awaiting the president's speech at 6 p.m. tonight. All we're just starting to get into our topic of the afternoon which is asset protection strategies, building that fortress. Just remember again, I'm gonna repeat this over and over again, if you don't own it, they can't take it from you, okay? Now, let's get our strategies as far as personal protection. First thing that everybody, regardless again, how much, little you own, the first thing that everybody has to do is this. get a proper amount of insurance. Homeowners, make sure you're maxing out your limits. lot times, of course, you want to save a few bucks, and you don't the maximum. Big mistake. Second one, you've heard me talk about this till I'm blue in the face. I'm going to do it again because it's one of my absolute favorite forms of insurance, umbrella insurance. Folks, it is cheap. Again, depending upon which insurance company you go with, I've seen quotes recently, $350 to $500 per million. You see, with umbrella insurance, you buy it in $1 million increments. You can go up to, I've seen $8 million. You start getting above a couple million, they start asking questions, and you got to go through more of an application process. Yeah, it's there. is almost every insurance company requires that they insure your auto and your home before they issue an umbrella policy. But what is an umbrella policy? Like I said, you buy it in $1 million increments. just as the visualize an umbrella, what does an umbrella do? It protects you from the rain. Umbrella insurance protects you from pretty much everything else. So look at it this way. It's excess liability protection above and beyond your auto and your home policy. Let's say you have the maximum $300,000 liability coverage on your auto. You get in a bad accident, it was your fault. You get sued for a million dollars. First thing the insurance company is going to do if they see that you're at fault, they're going to settle. But guess what? Insurance companies are not your friend, folks. They're going to settle for the $300,000. What about the other $700,000 that the plaintiff's attorney is coming after you for? Oh, you've got equity in your house? Oh, you have some investments? Oh, you have this, that, that asset? They want it. Here's the best advice I'm going to tell you this afternoon. If you have umbrella insurance, like I said a moment ago, you buy it in $1 million increments. So let's use that same example. Let's say you have just a basic $1 million umbrella policy. You get in a bad car accident. It is your fault. Now, most umbrellas, I put a little caveat here, most umbrellas have an exclusion clause that says if you get drunk and you cause an accident, they're not covering you. So keep that in mind. But let's just say you had a blowout. crashed into a family and God forbid the family died and the estate comes back and sues you for a million dollars. Okay, so you have the $300,000 normal max, leave 700,000 available. But you listen to the Jon Sanchez show on April 1st of 2026 and you contacted your insurance agent and you said, get me another million dollar umbrella policy. So now that same scenario, you're on the hook for another $700,000. That is unless you had umbrella insurance, because you see, here's what happens. insurance companies have some of the very best legal teams in the world. They do not want to write a check for any amount of money. So what are they going to do? They're going to provide free legal representation for you when you have an umbrella policy with them. So instead of you going out and hiring an attorney to defend you, The insurance company is going to send in their very best legal team to defend you at zero cost. Why? Because they're on the hook for a million dollars, up to a million dollars in this example. So free legal representation, OK? Now let's fast forward. Let's say you end up losing the lawsuit. It was flat out your fault. So many attorneys I've talked to over my life have said the exact same thing. Not one of them have ever said anything different. And that is umbrella insurance is the low-hanging fruit. That's the little term that they have. What's meant by that? meant is that is where the plaintiff's attorney is going to go. They're going to go battle it with that insurance company's legal team. They settle for the million dollars. In most cases, of course, there's no guarantees. But what I've been told by attorneys that do this for a living, in most cases, that's where they will stop. They'll settle with the insurance company, in this example, for the $700,000, right? Your auto covered $300,000, which again, is going to be the same company. And then the additional $700,000, the umbrella policy kicks in. So that your insurance company just wrote a check for $1 million. They did not bill you one penny for the legal representation. And the plaintiff's attorney is probably going to stop going after your other assets, because that umbrella policy is the low-hanging fruit. Again, no guarantees, but that's typically what I see. So for, like I said, $350 to $500, it's the cheapest form of insurance, and in my opinion, the absolute best form of insurance every single person can have. And one final point I want to mention on this that we always like to advise our clients on. If you own rental properties, and we'll talk about those in just a moment, if you own rental properties, please, I beg of you, make sure you tell your insurance agent. to put a rental rider umbrella policy on that rental property. You have to have your own insurance, of course, on that rental property. many times, insurance companies will allow you, if you have this personal umbrella policy, for a few bucks more, they'll do a rider, which means all those things I just told you about, that excess liability protection, that will apply to your rental property also. But just talk to your insurance professional. They can all the ins and outs, because again, every insurance company has different rules. But don't forget rental. Or if you have a ranch or you have anything like that, again, you can buy separate umbrella policies for those different entities. But your best line of defense against losing assets in a lawsuit is the proper amount of insurance. So we've got homeowners. We want proper limits. We have umbrella policy. We buy it at million-dollar increments. How much do you need? Again, contact me. We can sit down with you and go over ⁓ we think would be a proper amount. Your insurance professional should be able to do the exact same thing because they know what they have insured for you or what they don't. Now, for those of you, of course, that are professionals, you should have E &O policy. Even if you work for someone, many times people will go out and buy their own E &O policy. If you're a business owner, please make sure you have a general liability policy. That covers so many different areas, especially if you own an establishment, someone slips and falls, that type of thing. You have general liability. Get the maximum coverage you can. And again, buy an umbrella policy on that business. So make sure you have that E &O. professional liability, general liability, et cetera. So your biggest mistake is being underinsured. Again, it doesn't cost that much money compared to what you can get out of a great insurance policy. move on to the next area to protect ourselves, titling. Titling matters more than people think. Now, you hear us a lot talk with the real estate boys about titling, When we get into ⁓ areas of real estate, whether we own our primary home, whether we own investment that type of thing. I'm going to go through all of those. But for most of you, if you don't have a living trust that I'll cover here in a second, you're probably, if you are married, you're going to own your real estate, your primary home, with joint tenants' rights of survivorship or community property, or you're going to own it individually. Any one of those scenarios provides zero, zero asset protection for you. But think about this. Let's say you're married and you have a spouse and you own your property, joint tenants' rights of survivorship, JTWROS, which is what most people do. because only 22 % of America has done any estate planning. Let's say you didn't do anything, you're hard at work, your spouse goes out and gets drunk, goes to the bar in the afternoon, crashes and hurts somebody, kills somebody, whatever the case is, they're gonna come after your house. You didn't do anything wrong, but guess what? Your name's on the title. You're gonna be involved in that ⁓ lawsuit also. So think about how you title things. I'm gonna show you a way here in a second how to protect your home. So ⁓ spouse gets sued, you got poorly titled assets, everything is exposed. Now let's go to trust protection. Trust, it's gonna give you protection, it's gonna give you control. Big misconception, revocable trust. People think, ⁓ my gosh, I got a trust now, I have asset protection. No, a revocable trust provides zero asset protection. It does avoid probate, but there is really no asset protection involved in that. is unless you get into some very sophisticated strategies that I'll cover with you at a later point where we get into irrevocable trust and all these different types of strategies. But foundationally, the revocable trust provides zero asset protection. ⁓ do you want to do if you have a lot of assets? You sit down with your attorney and go, OK, how I protect myself? And he or she then should advise you on, creating different of trust outside the scope of the revocable to protect yourself. Because irrevocable trusts are very, very difficult for a plaintiff's attorney to get their hands on. And that's one of the reasons they're used ⁓ quite so frequently. Last one I want squeeze in before we go to break, the LLCs, the business entities, Rental properties, I've said this to them blue in the face also, do not, do not, do not own your rental property individually or joint tenants rights or survivorship. Put it into an LLC, not in your personal name. Remember, if you don't own it, they can't take it from you. So you create the LLC, it's a liability shield, but you have to make sure that you follow the rules. You have to have an operating agreement. Don't commingle your funds. Make sure you have a business account. Follow all the rules that we've laid out for you over the years. And then that way, there's no piercing of the corporate veil. But anything you have that's of liability risk, again, you want to talk to your attorney and talk to them about moving that into an LLC if it's appropriate. Businesses, like I said, rental real estate, I mean, there's all kinds of different things that have risk. Again, ⁓ get it out of your name, you don't own it, they can't take it from you. But you have to follow the rules of the LLC or the corporation, depending upon what you end up using. All right, we come back, let me show you how to protect your home. Let's wrap it up with Kristen Snow, Right Now Traffic Center, Kristen. Welcome back to the Jon Sanchez Show on Newstalk 780-Kewich. All right, let's continue on our asset protection strategies. You own a home, got equity in your home. Guess what? First place that an attorney looks to grab in the event of a lawsuit. That is unless you do the following. You heard me say at the beginning of the show, we live in one of the greatest states for asset protection. And this is one of the reasons, the Homestead Exemption. You see, now in the state of Nevada, $605,000 of your equity. is protected from lawsuits. Now, it doesn't protect everything. I want to be real clear with you. There are certain things that it does not. For the vast majority, however it does, look at NRS statute 115. It goes through all the details. But it protects up to $605,000 of equity against general creditor claims. That's unpaid medical bills, bankruptcy, charge cards, business personal loans, accidents. But it would not preclude the seizure or forced sale of your residence from general creditors. if your equity exceeds the maximum amount. So meaning, let's say you got $1 million worth of equity. Or let's say you have $700,000, make the math easy, of equity. $605,000 is protected. $95,000 is not. Creditor can still file a lawsuit against you and get a judgment against you. They can't take that equity, though, if you have filed a homestead exemption. What is not protected? And this is another big area that people have confusion on. The homestead laws here in Nevada do not protect you against debts secured by the mortgage or deed of trust, payment of taxes, tax liens, mechanics liens, ⁓ child support or alimony payments. Pretty much everything else is protected. How do you do it? It's so simple. Go the Washoe County Recorder's website, download the home exemption form, and sign in front of a notary. Go down to the county recorder's office and file it. I think it's a $35, $39 recording fee. It's nothing. That will then go on the deed of the property. And that's the first thing that an attorney is going to see if they sue you. Oh, crap. $605,000 of this person's equity is protected under homestead exemption. I'm not going after that. So you're there for roughly $40. Look at what we just did. Let's see. All right. So we got that. Now let's move on to something else very important. What are your other largest assets besides your home? That is your retirement accounts. in the state of Nevada, again, we're very lucky. Most of your retirement accounts, 401k, et cetera, are protected from creditors up to million cumulative. Cumulative. So you can have two different IRA worth a half a million each. You're right there. $100 million or a million dollars cumulative. You're protected. So IRAs, 401Ks exactly have very, very strong credit or protection. A lot of people don't know that. Again, is one of the, state of Nevada has one of the highest retirement account asset protection limits out there. So there go. You don't need to do anything on those. I wanna wrap things up with timing. Timing is everything. Now that you have behind you, like if you ⁓ need more information, advice, cetera, just reach out to my office and we can definitely have a discussion with you. ⁓ But timing is everything. Please do not wait until you're sued to do these strategies. Get them done now because you can't protect yourself in most cases. The homestead you actually can. Once you're served with a lawsuit, you can still file the homestead, believe it or not. But of these other strategies, once you're served, it's too late. ⁓ So it done now. If you it after you're served the lawsuit, the attorneys can come back when they do other searches on you and go, ⁓ that was a fraudulent transfer and the judge is going to disallow it in most cases. So do it before you're sued and hopefully you're never sued. So I'll wrap things up with this. Asset protection is not about you. It is about your family. It's about your legacy. It's about all of your hard work that you've done. You're doing it to protect your spouse. You're doing it to protect your kids. You're doing it to protect your legacy. One mistake can undo your life's work. But with these strategies, hopefully most of the things are gonna be protected. Nothing beats having a great attorney on your side. you have a complicated life, again, go sit down and talk to her or she. out asset protection strategy plan, and you'll sleep much better at night. Hopefully this was helpful. God bless. Have a great afternoon. We'll see you tomorrow on the Jon Sanchez Show.