Asset Protection for Ohio Professionals: The 5 Strategies That Actually Work
There are three things that can take what you spent a career building: a lawsuit, a long-term care event, and the wrong estate plan after you are gone. Most Ohio professionals have thought about at least one of them. Very few have done anything about it. This video fixes that.
Andrew C. Goodwin, Esq., Principal Attorney at Rhodium Law, walks through asset protection the way it should be explained for Ohio professionals: in order, from the foundation up. No hype, no offshore-account theatrics, just the five-strategy hierarchy that actually holds, and the one timing rule most people learn too late.
What this video covers:
. What asset protection actually means, and the timing rule that decides everything (healthy, working, no current threat)
. Strategy 1: Insurance as the foundation, including umbrella, professional liability, and long-term care coverage
. Strategy 2: Ohio’s built-in protections, the homestead exemption, ERISA and IRA creditor protection, and life insurance and annuity exemptions
. The tenancy by the entirety trap: the real Ohio history, and why the survivorship tenancy that replaced it is a probate tool, not a one-spouse asset shield
. Strategy 3: Entity structure for business owners and real estate investors, and how to keep an LLC from being pierced
. Why an LLC is not an estate plan
. Strategy 4: Trusts as asset protection, why a revocable living trust does not protect you from creditors, and what an irrevocable trust can do
. The Ohio Legacy Trust Act (Ohio Revised Code Chapter 5816), Ohio’s own domestic asset protection trust
. Strategy 5: Estate plan coordination, the gap where most asset protection quietly fails
. The fraudulent transfer rule, the Medicaid five-year look-back, and why the window is always smaller than you wish
Asset protection is planning work, not emergency work. By the time the lawsuit is filed or the diagnosis arrives, most of the options are already gone. The best time to build this is while there is no threat on the horizon.
WATCH NEXT
Trusts come up as Strategy 4 in this video. For the full breakdown of how a trust compares to a will in Ohio, watch: Living Trust vs. Will In Ohio: The Honest Breakdown.
https://www.youtube.com/watch?v=7JOq8zr8SUo
CHAPTERS
0:00 The three threats to everything you built
0:46 Who I am, and why this is personal
1:51 What asset protection actually means
3:30 Strategy 1: Insurance, the foundation
5:16 Strategy 2: Ohio’s built-in protections
6:56 The tenancy by the entirety trap in Ohio
9:05 Strategy 3: Entity structure and LLCs
10:41 Why an LLC is not an estate plan
11:07 Strategy 4: Trusts as asset protection
12:17 The Ohio Legacy Trust (ORC Chapter 5816)
13:19 Strategy 5: Estate plan coordination
14:49 The timing trap
16:04 Stewardship, not fear
17:29 Subscribe and free guide
FREE GUIDE
Download The Ohio Professional’s Asset Protection Playbook, a practical self-assessment that walks through the five strategies in this video and helps you find where your biggest exposures are right now. Download your complimentary copy at:
https://rhodiumassetprotection.com/playbook/
WORK WITH RHODIUM LAW
When you are ready to put your asset protection plan in place, visit rhodiumassetprotection.com and click “Book A Strategy Session.”
Website: rhodium.law | Phone: 216-699-8145
SUBSCRIBE
I publish a new plain-English Ohio estate planning video every Tuesday. Subscribe so your family is never the one learning this the hard way:
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DISCLAIMER: Andrew C. Goodwin is an attorney licensed in the State of Ohio, but watching this video does not make him your attorney and does not create an attorney-client relationship. This video is general information about Ohio estate planning and asset protection law, not legal advice, and should not be relied on for your specific situation. Asset protection strategy is highly individualized, and the law varies by state and changes over time. If you are ready to create or update a plan, please consult a licensed attorney who can review and discuss your specific circumstances.
Strategize. Secure. Shine.
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