Joel Nagel describes how his legal practice grew into a family office with global interests. He shares lessons on protecting assets, staying focused, and building businesses across countries.
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About the guest
Joel Nagel. Joel Nagel is an international tax and corporate lawyer who heads a family office with interests in legal, banking, insurance, real estate development, hospitality, and timber. He started his law firm in 1992 and represents high net worth and ultra high net worth clients in international asset protection, estate planning, and corporate and legal structures, including complex international trusts and foundations.
Key takeaways
- Nagel describes his work as the "defense": helping families keep and protect what they have through asset protection, estate planning, and generational wealth transfers.
- He says his firm focuses on international tax, asset protection, and estate planning, and turns down work outside its area of expertise.
- Nagel credits empathy and care for clients, alongside expertise, as central to his law practice's success.
- The family office platform grew from client projects, including work done on success based terms when clients could not pay. Some led to board roles and businesses over time.
- Nagel says he invests based on the people involved, as illustrated by his participation in a European American football team and the formation of a new league.
- He describes Bitcoin as a financial tool that can be pledged to support financing while the owner retains it, with hedges used in one hotel project to address volatility.
- His bank in Belize began as a mortgage company to help finance real estate projects, then became a bank with a community economic development focus.
- Nagel says differences in wealth levels can reflect a person's "success thermometer," or how much success they want before they feel satisfied.
- In Nicaragua, his group bought and developed coastal property while using U.S. government and private insurance to protect against risks, including a title dispute.
- Nagel advises founders and professionals to focus on what they know best and refer work outside their lane, which can help preserve trust and referral relationships.
Best quotes
"We're the opposite side of the coin. We're the defense. We're telling you how to keep what you already have."
"I would much rather lose my own money than any of my clients money."
"So we say no a lot. You know, we know our my background is as a tax lawyer."
"We care deeply about our clients. We want to make sure that they're successful with whatever they're doing."
"We've been at the at the cutting edge of trying to use Bitcoin, not necessarily as an investment, but as a tool, a financial tool."
"I view Bitcoin as something I want to hold long term. Um, it's for my kids, my grandkids, but in the meantime, I want to use it."
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