Listen To Episode

In this insightful episode of the Inner Edison Podcast, host Ed Parcaut welcomes distinguished guest Scherrie L. Prince, an attorney from Flowood, Mississippi specializing in asset protection for entrepreneurs. With approximately twelve years of law experience, and having navigated the financial turmoil of the mortgage industry herself, Scherrie brings a wealth of knowledge to the table.

Ed and Scherrie dive deep into the nuances of asset protection, the importance of recognizing market trends, and the impact of global events on individual businesses. The episode reveals key strategies for entrepreneurs on building a robust asset protection team, including attorneys, accountants, and insurance agents, to manage their business holistically.

Listeners get a fresh perspective on tax planning with Scherrie emphasizing the difference between tax preparers and tax planners, and the critical role of CPAs and EAs in forward-looking financial strategies. She also tackles the often-overlooked significance of standard operating procedures (SOPs), key performance indicators (KPIs), and the role of cybersecurity in safeguarding business assets.

Scherrie brings to light the concept of the three-entity structure (trust, holding company, operating company) for asset protection and liquidity management, as well as the pros and cons of trusts and wills for estate planning. She stresses the importance of prenuptial agreements for asset protection and shares personal anecdotes about the lessons learned from business failures.

The discussion extends to the necessary preparations entrepreneurs should undertake, such as exit strategies and understanding the role of intellectual property and trademarks owned by a company. Ed and Scherrie go on to enlighten the audience on the benefits of mentorship, coaching, and the unveiling of Scherrie’s upcoming course “The Entrepreneur’s Estate Plan.”

For anyone eager to safeguard their business and personal assets, or simply looking for expert insights into business growth and legacy planning, this episode is an indispensable resource.

Visit Scherrie Prince’s website for a comprehensive blueprint for asset protection and business sustainability. Learn from her expertise and consider the valuable guidance and courses she offers to future-proof your entrepreneurial endeavors.

Don’t forget to engage with Ed and Scherrie by exploring the provided contact information for additional insights and personalized coaching.