Go Big with Gib Podcast
Go Big with Gib is a podcast for professionals, business owners and entrepreneurs to talk about their big wins.
Go Big with Gib Podcast
Ep 75. The Hidden Cost of NOT Hiring A Lawyer
Legal blindspots can completely destroy your wealth and derail your path to financial freedom. Without proper legal representation, divorces and personal injury claims can lead to catastrophic financial losses that wipe out the gains made through passive investing.
• The hidden costs of not hiring a lawyer in personal legal matters can be devastating
• A close friend represented himself in divorce and lost everything, including paying $250,000+ in legal fees
• Personal injury victims who settle without attorneys often receive pennies on the dollar
• One person accepted a $10,000 settlement only to face hundreds of thousands in future medical expenses
• Legal problems can derail financial freedom and wipe out investment gains
• For divorce or family law, hire someone who knows your state laws inside and out
• For personal injury, find an attorney with a track record of winning similar cases
• Trust syndication deals backed by top-tier operators and legal teams
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Welcome to the Go Big With Gibb podcast, where we talk to professionals, business owners and entrepreneurs about their big wins. Welcome to Go Big With Gibb. I'm your host, gibb Irons, a trial lawyer with 20 years of experience and the owner of Irons Irons, a successful law firm based in North Carolina. As a capital raiser, I've helped retail investors like you deploy over $5 million into real estate syndications to create passive income, build wealth and escape the rat race. Today, we're diving into the hidden cost of not hiring a lawyer, especially when it comes to divorce, family law and personal injury cases. Stick with me for three minutes and I'll share practical advice to protect your investments and your future as passive investors in real estate syndications. You know the power of partnerships. At Irons Equity, we work with the very best attorneys in the business to draft ironclad legal documents for our syndications Operating agreements, subscription agreements, you name it. These folks are pros and ensure that your capital is protected. But what happens when you skip legal help in your personal life? The costs can pile up fast. Take divorce and family law. Without a skilled lawyer, you could potentially lose everything. I've seen divorcing spouses try to handle the legal process on their own, only to lose everything because they didn't understand marital property laws on their own, only to lose everything because they didn't understand marital property laws. Once a close personal friend of mine decided to represent himself. He was a successful professional who had built up a sizable net worth over his 30 years of marriage. He ended up losing everything and the results were catastrophic. He lost half of his assets in property distribution and then got saddled with an enormous alimony payment and he was ordered to pay the other party's legal fees, which exceeded $250,000. A skilled family law attorney could have saved him by negotiating a fair division of his assets.
Speaker 1:Then there's personal injury. If you're hurt in an accident, say a car accident or a slip and fall, you need to hire a skilled attorney to fight for what you're owed. Going at it alone, you might settle for pennies on the dollar or miss deadlines that could completely bar your claim. Trust me, I have heard horror stories. For example, one person accepted a $10,000 settlement without a lawyer, only to later learn that they had future medical expenses that were going to be hundreds of thousands of dollars.
Speaker 1:A personal injury attorney knows how to maximize your compensation. Look, here's the deal. Legal problems can completely derail your financial freedom. A bad divorce or a botched injury claim can wipe out the gains that you've been making through passive investing. My advice Hire a skilled lawyer early on in the process. Advice hire a skilled lawyer early on in the process For divorce or family law. Get someone who knows the laws in your state and knows those laws inside and out. For personal injury, find an attorney with a track record of winning big settlements in the specific kind of case that you have. And, of course, when it comes to investing in syndications, trust deals like ours, backed by top-tier operators and legal teams. That's it for today's episode of Go Big with Gibb. Don't let the hidden cost of not hiring an attorney steal your wealth. I look forward to seeing you next time. Thank you for listening to this episode of Go Big with Gibb. If you haven't already, go follow us on social media at Gibb Irons. We'll see you next time.