160 - Protect Your Wealth and Secure Your Future with Diana Khan of DK Law Group

The DMV (Washington, DC | Maryland | Virginia) Business Show

Join on us ⁠⁠⁠⁠⁠The DMV Business Show⁠⁠⁠⁠⁠ with ⁠⁠⁠⁠⁠Otto Sevilla⁠⁠⁠⁠⁠ as we get to meet Diana Khan, an Attorney At Law and Owner of DK Law Group with headquarters in Owings Mills, Maryland as she shares her personal and professional journey! Born in Bulgaria, Diana immigrated to the United States with her family at the age of 10 and grew up in the Baltimore area. Despite facing challenges and making sacrifices, Diana's mother played a significant role in her education, and she eventually pursued a career in law, focusing on business planning and wealth building. Diana shares her journey from initially wanting to become a doctor to deciding to become a lawyer. After being diagnosed with diabetes, she knew she couldn't become a doctor. She then became interested in real estate, working for a law firm that did short sales, and eventually opening her own real estate brokerage. After being a solo practitioner for a few years, Diana decided to focus more on law, leveraging her knowledge and network to build a law firm that specialized in real estate and business law. Her motivation was to retire at 50 and provide for her family. Diana's law firm grew organically, with most clients coming from her real estate network. She also started a title company, real estate brokerage, and offers LLC startup and estate planning services. Today, she has a staff of 60-70 employees and is working on branding and growing her company. When it comes to starting a business, Diana emphasizes the importance of establishing a strong business structure ahead of time, including setting up an LLC, operating agreement, and QuickBooks. She stresses the importance of planning and doing things correctly from the outset to avoid potential issues and liabilities later on. As a successful business owner, Diana highlights the importance of having a trust to protect one's assets and ensure the smooth transition of wealth to heirs. She emphasizes that many people don't understand the concept of a trust and think it's only for wealthy individuals, but in reality, it's for anyone who wants to protect their wealth and legacy. A trust can be set up to have its own rules and parameters, allowing an individual to put their assets into it and gift them to their loved ones in the future, while also protecting themselves from liability and ensuring a more efficient transfer of wealth upon their passing. Diana Khan's journey from lawyer and entrepreneur is a testament to her perseverance and dedication. By sharing her insights and expertise, Diana emphasizes the importance of having a trust as a key part of one's wealth planning and legacy planning. With her extensive experience in real estate, business planning, and wealth building, Diana Khan is a valuable resource for anyone looking to establish a strong business structure, protect their assets, and ensure a secure financial future for their loved ones.

This episode is sponsored by: ⁠⁠⁠⁠⁠⁠⁠⁠SEVI⁠⁠⁠⁠⁠⁠⁠⁠ - The first commercial real estate company committed to the four C’s: Commercial Real Estate, Community, Content, and Culture

⁠⁠⁠⁠https://seviproperties.com/⁠⁠⁠⁠

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