This Blog – The Legal Windbag
This blog (the Legal Windbag) was created as a way to help share and spread the sound business practices that Legally Mine teaches. The hope was that those who have participated in a Legally Mine class before can use it as a refresher for some of the important topics discussed. And for those who stumble upon it, we hope you are able to gain something valuable to your business by perusing through the various topics and posts herein.
We are always looking for suggestions to improve and would love your feedback. Please feel free to comment below or to send me an email at email@example.com
That is pretty much all there is to the Blog. For those interested I have included below a brief history of Legally Mine.
A History of Legally Mine
Jay Mitton and the Beginning of Asset Protection
In the 1970’s an attorney from Utah took a simple legal document and turned it into a powerful tool to be used in the protection of assets from loss due to a lawsuit. This one act changed American law and business to an incredible degree. The legal entity he used was called the Family Limited Partnership (FLP). The Attorney’s name was Jay Mitton. America owes a great deal to Jay and his FLP, due to the success of the FLP another group of attorneys created the LLC – so widely used by today’s business world, it is hard to believe that it only came into existence in 1987.
Due to the success of Jay’s law practice among the elite of the nation – he was encouraged to find a way to bring his legal expertise to the masses of the American people. One group in particular deserved this extra attention more than any other – the group comprised of medical and dental professionals. In answer to the call, Jay and his then current business partners created a company to provide the necessary education and information to the medical community, who by in large never attended any of the seminars promoted by Jay and his group. The company created to remedy the situation was called the National Medical Foundation (NMF).
Eventually Jay retired from practicing law, and became a silent partner in a seminar sales and marketing company – continuing to promote his asset protection in the form of a self-help kit sold en-mass at meetings across the country. It was as a part of this company that NMF operated within.
Eventually though, as often occurs, the NMF became unprofitable, was spending more than they were making and due to some rather poor business practices had burned many of the bridges they had built within the medical community.
As the NMF was winding down, Dan McNeff, who had previous experience as a financial planner and a business owner, was given an opportunity to purchase the company – and Legally Mine was born.
Dan changed the name of the company to reflect the fact that it was a for-profit company, and changed the services offered from a self help kit (that no one ever really used) to a customer service oriented experience, guiding the clients through the many steps involved in true lawsuit prevention and tax reduction and making the process as smooth for them as possible. Dan also believed that if the education offered at the meetings was good enough, there was no need to make the presentation a hidden sales pitch for them to gain customers, preferring instead to make the lecture strictly education based with an offer at the end to have anyone interested stick around to hear what services the company offers. This has resulted in a presentation that is strictly educational and often used for Continuing Medical Education credits, while still allowing the company to expand its client base without threatening the integrity of the education.
Legally Mine is continually improving and successfully continuing to grow in both abilities and reputation.
The company mission statement:
“To empower members of the medical, dental, and business communities with the knowledge and tools to protect their assets from frivolous lawsuits, legitimately reduce their tax liability and to cultivate an environment wherein they can thrive financially.” – Legally Mine Team
Blogs and other websites affiliated with Legally Mine are as follows: http://wealthlegallyprotected.wordpress.com/2013/08/28/some-history-of-the-llc/