Garrett Sutton, Corporate Attorney and Asset Protection Expert, was recently a featured guest on Hollywood Live. The show was filmed by an Emmy Award winning crew in the penthouse of the Hollywood Roosevelt Hotel that overlooks Hollywood Blvd, in Los Angeles, California. The show, hosted by Jack Canfield, Best-Selling Author and co-creator of Chicken Soup for the Soul, included guests from around the country who shared their expertise and stories of their success. The episode featuring Sutton recently aired on Bravo and A&E affiliates across the country.
About Garrett Sutton
Garrett Sutton has been in practice more than thirty five years. Garrett assists entrepreneurs and real estate investors from around the world to protect their assets and maximize their financial goals through sound management and asset protection strategies. Garrett is highly sought after as a guest speaker and serves as a member of the elite group of “Rich Dad Advisors” for bestselling author Robert Kiyosaki. Garrett has authored several successful books for business owners, including Start Your Own Corporation, Run Your Own Corporation, Writing Winning Business Plans and Loopholes of Real Estate. These books are part of the bestselling Rich Dad, Poor Dad wealth-building book series.
Garrett attended Colorado College and the University of California, Berkeley and obtained his law degree from Hastings College of the law, the University of California’s law school in San Francisco. Garrett is licensed in Nevada and California. He serves on the boards of The American Baseball Foundation, based in Birmingham, Alabama and The Nevada Museum of Art and Sierra Kids Foundation, both based in Reno, Nevada.
Sutton’s expertise in his field led to an invite to the Hollywood Live set to tell his business’s story. His feature has been seen by viewers across the country, and has undoubtedly inspired many.
About Hollywood Live
Hollywood Live features premier business experts offering their expertise in one of the most prominent cities in the country. Interviews are focused on topics related to their respective industries, and their success in that industry. The stories of their businesses and brands serve as lessons for entrepreneurs and inspiration for those looking to go the route of the business owner. Hollywood Live provides valuable information for today’s business-driven world.
Below is a brief transcript of portions of the interview.
Garrett Sutton on Asset Protection
My father was a judge in Oakland and he always taught me the importance of law and our legal systems. He would talk to me about how people who didn’t have a corporation would lose all of their assets. At an early age, I learned about asset protection and the importance of corporations, and so that led me to become a corporate attorney, in order to help people protect their assets. We live in a very litigious society. People get sued all the time and you need to take these very simple steps to protect yourself.
The State of the Asset Protection Industry
I think most people are becoming aware that you do need asset protection. Unfortunately, they don’t teach this in school, but people are now reading about these types of issues. They understand that people get sued with great frequency now, and so people are setting up corporations. If they invest in real estate they’re setting up LLC’s to protect themselves. More and more people are understanding this, which is good, but that hasn’t stopped people from suing. So, we still have to take steps to protect ourselves.
As a young attorney, I didn’t listen to the client carefully enough, and I made the mistake of taking on clients I shouldn’t have. So, when you get started in business, you have to know that those toxic clients are headed your way, and you have to be very aware of which clients to take. One of the premises of the book [Toxic Client] is not every client is a good client. We don’t have to take everything that walks in the door. So, I wish I’d known those lessons early. Instead, I learned the hard way.
What’s the Difference Between a Good Client and a Toxic One?
Well, the toxic client is is one who will waste your time. They will demand services when they’re not really needed and they certainly don’t pay. A lot of them are going to take advantage of you as a new business owner and see if they can avoid paying you. In the book, we talk about how the customer is not always right. You have to know that sometimes the customer is going to ask you to do things that you shouldn’t do. Those are some of the key indicators of a toxic client.