A local LLC helps mitigate risk, increases asset protection, and helps comply with local business laws.[Read more…] about Why have a local llc?
The days when a trust or LLC could completely hide your identity are gone. Registered agents, trustees, and bankers are all required to know who is the “natural person” (human being) behind an entity. These “know your customer” laws require knowledge of who owns, or establishes, an entity.[Read more…] about Ultimate secrecy (not gonna happen)
Asset protection is not about hiding money and tax-dodging schemes.[Read more…] about Not tax evasion
Giving away your stuff to a trusted family member to thwart creditors is NOT an effective asset protection strategy.[Read more…] about Tiger King Fraudulent Transfer
If you are the only person in charge of your trust, a judge can order you to hand over the trust assets to your creditors.[Read more…] about Why can’t I be the only person in charge of my asset protection trust?
People rarely want to give up control of their trust and assets. It is possible to be the trustee of your asset protection trust, but it must be set up properly so that an independent trustee can step in when needed.[Read more…] about How can I be a trustee and also get asset protection?