Most of my assets are in a brokerage and retirement account. In a scenario where someone wants to sues me for a car accident or medical debt collection, what is the best way to protect these two asset types?
It seems like 401k money is already protected from car accident lawsuits and medical debt collections by ERISA. Is that correct?
For brokerage account, should I create a LLC (create an investing company) and move all the funds in my brokerage account to LLC? From what I understand, forming a trust avoid probates but doesn’t protect assets. LLC will protect assets.
How is everyone else is protecting their assets in their brokerage account?