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Real Estate Industry
March 16th 2006
THE ASSET PROTECTION STITCH
Ed Burton should be avoided.
Update: March 27, 2006.
Neil,
Asset protection advice is part of what I do every day as a financial
planner, and most accountants can do this, as well as many specialist
lawyers.
A reputable tax and asset protection law firm would charge considerably less than the $10,000 being asked by Ed Burton and his team; though for most people an accountant can provide adequate advice in this area at a moderate cost of at most a couple of thousand dollars.
Travis Morien
AFS License 286175
http://www.travismorien.com
I recently received Ed Burton's DVD on how to bullet proof your assets.
I then met with one of Ed Burton's 'asset protection consultants' who took me through a maze on how I can better protect my assets.
The basic concept was to form a company as a shell with an asset and discretionary trust underneath. This would all be put together with their legal and financial team at a cost of $10,000.00.
Before I part with any of my hard earned money I plan on speaking with a number of accountants as well as getting a couple of legal opinions.
I have always had respect for Neil Jenman and his straight talking on all the scams and would appreciate any information on Ed Burton that may help me.
If you wish to send a question or comment to Neil Jenman you are most welcome. Neil tries to read every e-mail and respond personally. We have posted some of the common questions together with those we feel may help you. Thank you for your interest.
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This 'asset protection' spiel is, in my opinion, just another way for a slick spruiker to stitch up suckers.
In brief, the stitch works like this:
Ed uses his DVD to scare people into believing they could quickly and easily lose all their assets, often due to a simple little incident.
Ed and his "consultants" (who have themselves been stitched up by Ed for multiple thousands of dollars) then arrive as saviours.
In Ed's words, 'You enter, as the "knight in shining armour" to alleviate their fears and concerns!'
You are then charged an outrageous sum for something that an honest and qualified professional could provide for a fraction of the cost – and that's assuming you even needed it in the first place.
Again, let's look at what Ed tells his would-be "consultants" (prior to stitching them up) –
"You can make more money than a surgeon – With such a high profit margin, it doesn't take Einstein to work out how you could earn a huge SIX figure income!"
In my opinion, Ed Burton should be avoided. Get independent accountancy and legal advice.
Last September, in response to another article I wrote about Ed, I received the following message from one of his goons:
"I should hope that your Asset Protection is in order as I am not too sure that Ed will like what you have written and published."
What Ed Burton likes is of less concern to me than what my readers like.