1:15 serious 1:55 wyom 2:45 managed 4:30 who is the registered agent 5:155:35 who is incorporator/organizer 6:55 business address 7:30 address lookup 8:309:15 look at the small things
Clint It would be amazing to see a video on the banking aspect and corporate compliance on that exact structure. As what LLC needs accounts and how money moves through them.
I formed a double LLC through a registered agent but can't get a business bank account unless my name is on the account. That ruins my anonymity and I wouldn't be shielded from lawsuits. No?
@AmericaIsWorthIt Yep, thanks! Bank Staff at one bank was able to do open the account in the LLC name after I showed the formation docs. Since this is the account that rents are deposited into I wanted it in the LLC's name.
The devil is ALWAYS in the details, but one thing I love that Clint pointed out in this video is the fact that often in these types of videos the presenter is presenting concepts, techniques and tactics. This is NOT the same as giving you a step-by-step breakdown that you can run right out and try to implement on your own. Rather, learn and understand the basics of these concepts, techniques and tactics so you can THEN reach out to the appropriate professionals who can help you navigate the details and set things up correctly per your objectives! Thanks again Clint!!
Thanks for this! This covered a new layer of info I have been searching for. It's helpful to understand how the nuances may expose your info without you knowing it! Would also be good dive into this further. Things like who should sign the annual reports and amendment forms without exposing your identity, how to properly transfer title without trigger transfer taxes, etc., and what addresses you should use on the forms and if that is across all LLCs or per LLC. I would also love to know more about what other things creditors can and cannot find out about you.
In your example, Wyoming LLC is still under the jurisdiction of the US judge. What if you replace Wyoming LLC with a foreign country LLC like Nevis LLC that owns the US LLCs? I suppose, the judge cannot seize the Nevis LLC? Plus, Nevis doesn't disclose the name/owner of the Nevis LLC. Wouldn't that be a better setup?
so basically i can have florida llc owned by wyoming llc and use your wyomig principle business address in florida article of incorporation llc even if properties are in florida thanks
It would be useful to know how to do the accounting for the local red LLC when it is owned by blue Wyoming holding LLC. Also how to register local LLC with local tax agency. Many thanks for all your useful training!
As I read the various comments below that folks have about existing LLC structures and especially the tax burden from the IRS. I completely understand why many real estate investors that have major dollars invested move their money to off shore islands that are tax havens as well as other protection too.
As always, great content. There is understanding what needs to happen, and then there is the expertise to execute it. Get an expert! Is the video about avoiding Due on Sale still coming?
Question for ya Clint. Lets say I have a member managed WY holding company that is the member of multiple LLC's in various states that are also member managed. All for real estate, and I am the owner of the LLC's and set them up with anonymity as the goal. I do not use property managers, as I manage them myself. How would I write and sign a lease agreement without signing my personal name?
You will sign on behalf of the LLCs as the member manager e.g., Clint Coons managing member of WY LLC as its member manager. Better to just appoint yourself as an officer of the rental LLC and sign off as such.
OMG thank you so much Clint for this breakdown this is GOLD!! no one knows more regarding the subject of structuring asset entities for asset protection and anonymity than your business!! VERY WELL EXPLAINED!! I need your help I want to set up a free consultation with you. I want to know what I need to do, if it is possible to move my almost 2 year old CA LLC to Wyoming not for Real estate property. I work in the Tax overages in unclaimed overages business. If I do move it to Wyoming will I be anonymous? or should I just incorporate a new LLC in Wyoming.
Damn you're good, when you were drawing on the board, and you would explaining yourself and how to do it. I was kind of a step ahead of you and I don't have a business yet, I was saying to myself how they can track you a lawyer a pi and I was almost one step ahead of you and you exactly right this is what people dropped the ball when I get mine started I will be in contact with you in your business and I thank you for these educational videos sincerely yours nblv LLC which is not up yet love you man be good 🙂😄😀
My question is around the liability piece. What happens when one of the llc's that were created under the original holding company gets sued or is liable, would all the other llc's also be liable? Would they go after the holding company and if they go after the holding company would all companies under that holding company be held responsible or can they go after those assets?
Great video. My question concerns anonymity with the checks I would be writing from my business accounts at the banks. I would have an LLC for my CA rental and the Wy holding LLC, both with bank accounts. Simple question: How do I fill out and sign the checks I may be writing from my expense accounts while keeping anonymity? Thanks in advance.
You would have an account in the name of the CA LLC and you would be the signer on the account. You would have to sign your name - there is no way around it.
6:30 Since title will be held by MyTrustee LLC, how important is it not to use my own name (Terry) as the "Organizer" for the in-state beneficiary LLC (e.g. "LoveCal, LLC")? The identity of the LoveCal LLC is not disclosed anywhere except in the Assignment of Beneficial Interest document (which is private) where I assign Terry's beneficial interest to LoveCal LLC after I've deeded my property to my Trust with MyTrustee LLC as Trustee. There would be no reason for anyone to look into LoveCal LLC because it's not on title and it's not even in the Land Trust. Thanks in advance
How would one cleanup/move an LLC that was setup prior to creating this structure for anonymity? Is it even possible or do you just need to dump the entity and create a new one which would be a headache with existing contracts, accounts, etc.
Clint, thanks for the video. Question: Let's say I have my Holding LLC in WY and my Operating LLC in another state. The member in the Operating LLC is the Holding LLC - as the video suggests. How would I sign contracts and such for the Operating LLC? The only member would be the Holding Company. Thanks for any clarification you can provide.
What about the Property Deed? Couldn't a investigator theoretically go to a county website and search your name and find all the properties you own in the county via the Recorded Deed or recorded Mortgage which you have to close in you name.
Hi, thanks for the good advice.. my question is, I have quite a few LLC's started in Indiana, where I am the manager and or member.. can I form an LLC in Wyoming, and then change the Indiana LLCs to be owned 100% by the Wyoming LLC at this point still, or do I have to create all new Indiana LLC's? I would also change the registered agent, organizer ect in the process.. thanks!
Great Stuff! Can you do a video on 1031 exchanges. And doind it from a Residential Property thats in your name to a Commercial Multifamily using a Hard-money lender to then rehab and refinance. When should one considered putting it in an LLC using the landtrust method? And how should one collect rents from tenants on the other units during rehab?
Thank you for this information its so valuable. What about annual filing of Statement of Information. If you file yourself does that expose your identity?
Great advice, I have a Question. If I live in Texas and want yo buy real estate in the lower 48 states, am I allowed to have the Wyoming LLC to cover them? Thanks
Clint, I have a service company and would like anonymity and CO protection. Is the following doable and would accomplish that goal? 1. Create a Wyoming LLC, e.g. Widget Holding Company LLC, manager managed with S Corp Election 2. Create a Texas LLC, e.g. Widget Service Company LLC, member managed with Widget Holding Company LLC as the member.
If you would like a FREE 30-minute consultation, you can request one here - aba.link/clintss or you can send me an email at ccoons@andersonadvisors.com, and I will have someone contact you.
Thank you so much!! Will filing a company In WY as a holding company be exposed if this company (filed as an S corp for tax purposes) pays its owner a salary ? Also if the subsidiary LLC in a different state let’s say , WA . do you guys do the register agent or organiser in WA under your name or can I use someone else in this state ?
Thanks Clint. But wouldn’t be this true that LLC can’t own an S corp? Im asking this question because if I have let’s say four properties, each has it own LLC, the Holding company for those properties in WY, then I will be paid by this WY Holding company, instead of getting paid for each company separately?
Clint, what if a person, entity or authority subpoenas the organizer (e.g. Anderson Business Advisors), do you then have to disclose the member's information? Or will the member be protected under ACP? Because how can one be truly anonymous if he/she can be subpoenad?
We would have to disclose. Anonymity is about creating a smoke screen so someone WHO IS CONSIDERING suing does not know what you have. Once a lawsuit begins, you may have to disclose the members IF the members have possible liability otherwise your attorney should object to the disclosure on relevance grounds.
Hey Clint, You did not address using AKA's to set up companies. I know for a fact most federal law enforcement agencies use AKA's( Also Known As) or ( PKA) when they are setting up shell companies. And the other thing you did not address is investigations undertaken by Dunn and Bradstreet and other credit rating agencies. When the company goes to apply for credit. Dunn and Bradstreet will require one officer to identify themself and that you provide a lease where the business is doing business at. Most banks want to see a DNB report when loaning to someone using an LLC. Also, DNB was one of the companies pushing for the Corporate Transparency Act. They are due to get a very large contract from FINCEN, this is the loophole that no one's talking about
Wayne you are correct. Anonymity and credit are not friends. I covered that topic in this video. ua-cam.com/video/hyEcPuDpgfs/v-deo.html. Thanks for watching.
How do we open a bank account with Wyoming Llc as the holding company for an entity in another state ? How do we prove we are the owner? Also do you provide RA, Address Organizer services in Wyoming?
How does the manager of the subsidiary (me) get paid? Does the subsidiary pay the manager a salary that’s defined in the operating agreement? Or do I only get money from the wyoming holding company? I feel like the subsidiary should pay me a salary for managing operations and then I also get distributions from the holding company.
Depends on what type of income you want to receive. Management fees are active income subject to employment taxes. Distributions are passive and avoid employment taxes. Most people opt to take distributions.
Please make a Video on Oregon Res. Rental house LLC set up, & using it with a Wyoming Holding LLC do you have to reg Wyoming Holding LLC as a foreign agent in Oregon? & BOI reg too
@@ClintCoons I ordered yours books Next Level Real Estate Asset Protection & Real Estate Asset Protection + Toby's Infinity Investing finished them all worth reading Thx for reply, a Off Shore asset plan video for a trigger/bridge LLC/trust accounts video to more affordable countries then Cooks Island, Nevis, Cayman Islands and Belize. All way over priced 35k to 150k set up is out of most of our budgets. what are some other countries with way better prices? for LLC or Trust?
@@ClintCoons My visit to Dubai ua-cam.com/video/tDtZiqqBVFc/v-deo.htmlsi=zxPiND9f0OJF-ouy I took a trip there a few years ago & didn't look at a entity or bank account investments nothing other than gold. Met a few from UK people doing business there & they had bought homes earlier when they use to be cheap, I've been looking there in Dubai, Nevis, Portugal, Belize, Good to know you have a office there, from what I've seen Nevis & thinking of them for a LLC so far banking maybe Singapore or Hong Kong, Dubai in my opinion you need to live there part time & it's over priced for about everything unless you have a job there in that case they pay well in certain fields. What to you think of Mercury Global Acquisition? hear's there's a pause on them. What do you think of Lili & Relay for LLC banking?
We are four friends(one lives in florida, one in Boston, two in NJ) is planning to purchase one rental property in Florida. How and what we should to about land trust and wyoming LLC? In which account we deposit the rent? Can you please elaborate steps so we can protect our assest?
Speaking of bank & IRS, if there is creditor, legal case to reveal all your assets, cannot the lawyer ask the judge to get an order to obtain your tax return and bank statement for last 10 years and hence will be able to see your income & assets and where your income is coming from? If the answer is yes, there’s no way to hide from anyone who want to go after your assets.
Thank you for your presentation. I had no idea it could be so complex, even for avoiding that disgruntled person. I've got a bit of cleanup to do, then I can get restarted. Thanks again!
So to get anonymity register LLC in wy or del then don’t put your name or address on anything. What does registering in those states really do for you when it seems like the sauce to this is to just simply not put your name/address on anything?
Use a microcut or chipper paper shredder, not a cheap slicer shredder that produces long slices that are easily arranged back into the original page. You want a shredder that produces very tiny confetti.
I understand about the subsidiary LLCs being member managed, with the sole member being the Wyoming LLC. But how should the Wyoming LLC be set up? Member-managed or manager-managed? And should you be a member, or a manager of the Wyoming LLC?
How do you take advantage of the 'home based business' tax opportunities if you have a different address other than your home? lets say you have a virtual address.
One question I had though on the anonymity front. Can the RA or legal counsel file the annual report on behalf of the LLC? Wouldn't someone be able to look up the name of the person filling out the annual report to find out your identity otherwise?
Clint- kudos thanks for this, totally understand the structure. HERE IS A TWIST: So got a Wyoming LLC A, setup via a third party and they are providing a WY business address too. Op agreement for this LLC A is Manager Managed. Planning to purchase property in another state, let's say Pennsylvania. On the forms for that state they don't distinguish between Member or Manager Managed, they just need a registered agent, organizer and business address. Could we just have the WY LLC foreign file in PA via a third party registered agent in PA? Seems like we'd still have anonymity. What is the advantage of setting up a distinct new LLC B in PA? Is there some other disadvantage to our WY LLC A being foreign entity in another state?
IT would be more expensive to file in WY then register to do business in PA. Better off just setting it up in PA. Also any benefits you obtained from using WY will be lost upon filing in PA.
@@ClintCoons We kind of like the idea having a WY agent & business address to give the impression while LLC A is doing business in PA we are from 'out of state'. What benefits are you referring to that LLC A would be lose upon doing a foreign entity filing in PA?
@@angelspayments1487 Some individuals want to use WY for creditor protections afforded to LLC members of a WY LLC. This benefit does not apply once an LLC is foreign filed in another state if the other state's laws are not as robust.
Hi Clint, how does the money get disseminated after it leaves the property management company? Which llc receives the P.M.C.information so owner can receive payment? We have multiple properties in 2 states and need to enhance anonymity and assest protection.
It depends on your PM. Some investors will set up a separate bank account for each LLC and have the PM send payment to the specific LLC. If your PM will not send multiple wires then I would have the WY LLC receive the payment and owner's statement.
If operating a home where the tenant's rent is being paid by a charity organization who wants to be sure the home is in fact mine. How would i go about that??
Hi Clint. Thanks for your great info. If someone has properties in CA and currently has them in a rev liv trust would it make sense to transfer them into CA llc then have a WY llc own the CA llc and put all llcs into the rev liv trust?
So...can a Wyoming LLC be listed as the manager of say a Georgia LLC if it is the owner? I know you said member managed is the way to go but I dont see why it can't be Manager managed as well since Wyoming wouldn't point back to the true owner
Yes it can however, some states require the management entity to register but not the member manager entity. If that is the case then it does not work. Second, if the state collects information on the members and managers then it would be best to go with member managed.
I am getting ready to open a real estate wholesaling business soon. Do you have ideas on how to incorporate Anonymity on the BRRRR (Buy- Repair- Rent- Refinance- Repeat) Method ??? And which type of LLC should I use? LLC--> S-Corp is what I am thinking. Thank You!!!
What address do I put for Manager's Address on the Cert of Formation document? Can I add the Registered Agent's address in that field also so that I don't have to put mine?
You can not use the RA address. You will need to use another address - preferably not your home address. We provide mail forwarding service for entities we create for our clients.
If I registered my WY LLC as member managed and listed myself as a member, wouldn't I still be anonymous since WY doesn't share member details? I have a RA (not me) and am using their address for the business. My RA does my annual filing as well. Please advise and thank you!
Great segment really covers it all, Clint is right you can not do this all by yourself- some third parties help with registrations and addresses are needed to make your LLC anonymity bullet proof! Here is Question with a twist on this: Suppose I live in Kentucky. The property to be purchased is a vacation property in state of GA that I do NOT intend to rent. But I still want the anonymity. Can I just purchase the property with an anonymous WY LLC setup & maintained by a third party and leave it in there? Is the answer any different if I do want to rent it later but as a weekly lease (no long term tenants, just seasonal vacationers)?
Yes you can purchase it with a WY LLC. When you begin renting then you should FF in GA. If you still want anonymity you will need to add an additional WY LLC when you begin AirBnb
Can I do an amendment of the entity I have in my own name now to where when I'm done it no longer shows my name? Or should I start from scratch and form a whole new child LLC with the parent Wyoming LLC? I would hate to see the money I put into my current LLC wasted but it defeats the purpose if I go through the hassle of doing the amendment and the creditors are still able to follow the paper trail leading to me as the owner.
Yes this is a problem and I would not recommend you start from scratch. What we typically will do in your situation is set up a Personal Property Trust to hold your existing LLC interest and assign the PPT to the WY LLC. This is a bandaid but it will keep your WY LLC and future LLCs from being tied back to an existing entity you are related to via the prior list of managers or members.
@@ClintCoons If going this route, will title transfer in California trigger transfer tax and property reassessment? Because the LLC interest would now be the PPT which is owned by the WY LLC...
Also, what happens if the LLCs that have already been created are set to manager managed? Will changing them now to member managed as you suggest blow our cover? Amendment forms need to be signed by the manager.
@@seeyouthere Yes. Also, I think a lot of your questions could be answered if you join me for a one-day live event I am hosting this Saturday at 9:00 am PST. The event will cover asset protection and tax planning for real estate investments. Here is the link to register: andersonadvisors.com/tapw-03-27-21/
An LLC does not have GP or LP members. If you want anonymity you set up an LLC that is member managed by a WY or similar LLC that does not collect any information on its member.
When you are setting up a PO Box, they required you to provide a residence address (where you live) in order to set up the PO Box. Now, if someone needs to know who owns the PO Box with a subpoena there is nothing you can do to prevent the release of that information. Is there a way around it when setting up the LLC and using a PO Box?
In this example, when you setup WY LLC, I have RA and virtual address, and organizer, but the government still ask for member names in a manager managed llc, is this ok? Does that show up somewhere that creditors can find?
Thanks for the valuable info. I ASSUME there is no state tax in TX and that is a tax advantage of setting up a LLC in TX. But, it seems like there is no anonymity shield for the LLCs in TX. Is there a way to set up a LLC with anonymity shield and tax advantage?
Could you address when you are trying to set up your credit profile with the Business Credit (ie D&B) and they ask you for your name, physical location, and per the website a utility bill/ lease agreement? How do you get around that when you have a virtual Shopify-type business?
That is very difficult and its one of the reasons why I do not recommend using an out of state entity to build business credit because you need much of what you stated.
@@ClintCoons Thanks!! Yes, I seek to build business credit and would like to stay anonymous (if possible) and my business will sell products online. So for most states (I'm in GA) even if we have the RA & Organizer we would still need to disclose our information/ names with the Sec of State correct? The information you have provided is excellent!! I'm wondering is it mostly for RE protection and not startups building business credit etc.?
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1:15 serious 1:55 wyom 2:45 managed 4:30 who is the registered agent 5:15 5:35 who is incorporator/organizer 6:55 business address 7:30 address lookup 8:30 9:15 look at the small things
Clint It would be amazing to see a video on the banking aspect and corporate compliance on that exact structure. As what LLC needs accounts and how money moves through them.
I formed a double LLC through a registered agent but can't get a business bank account unless my name is on the account. That ruins my anonymity and I wouldn't be shielded from lawsuits. No?
@AmericaIsWorthIt Yep, thanks! Bank Staff at one bank was able to do open the account in the LLC name after I showed the formation docs. Since this is the account that rents are deposited into I wanted it in the LLC's name.
1:50 my business is my business…
I love that statement!
The devil is ALWAYS in the details, but one thing I love that Clint pointed out in this video is the fact that often in these types of videos the presenter is presenting concepts, techniques and tactics. This is NOT the same as giving you a step-by-step breakdown that you can run right out and try to implement on your own.
Rather, learn and understand the basics of these concepts, techniques and tactics so you can THEN reach out to the appropriate professionals who can help you navigate the details and set things up correctly per your objectives! Thanks again Clint!!
Thanks Steven. Great point.
Thanks for this! This covered a new layer of info I have been searching for. It's helpful to understand how the nuances may expose your info without you knowing it! Would also be good dive into this further. Things like who should sign the annual reports and amendment forms without exposing your identity, how to properly transfer title without trigger transfer taxes, etc., and what addresses you should use on the forms and if that is across all LLCs or per LLC. I would also love to know more about what other things creditors can and cannot find out about you.
In your example, Wyoming LLC is still under the jurisdiction of the US judge. What if you replace Wyoming LLC with a foreign country LLC like Nevis LLC that owns the US LLCs? I suppose, the judge cannot seize the Nevis LLC? Plus, Nevis doesn't disclose the name/owner of the Nevis LLC. Wouldn't that be a better setup?
Correct and that is why we put a decanting clause in the LLC.
I definitely need you to help me when I buy my rentals. Listening to you again. Thanks for all the great videos. I save them for future reference.
so basically i can have florida llc owned by wyoming llc and use your wyomig principle business address in florida article of incorporation llc even if properties are in florida
thanks
yes
*Clint Coons* is the GREATEST on UA-cam for Business related videos. 90% of the information in this video I had no idea about
Wow. Thanks.
I had NO IDEA. oh my so thankful you waltzed across my feed. More....
How do u file for a DBA in the state of Florida and remain anonymous? A lawyer told me it has to be ur managing member that signs for that
He said, "if you're using legal doom instead of legal zoom." 🤣
Clint needs a set for a stand up night.
I’m going to need him to go more into detail on that.. don’t hold the important info 🧐
😂😂😂😂😂😂
*I mean, not "instead of"
😂😂😂
It would be useful to know how to do the accounting for the local red LLC when it is owned by blue Wyoming holding LLC. Also how to register local LLC with local tax agency. Many thanks for all your useful training!
Greatest video out to walk you through the process AND tell you how others have gone wrong. Thank you!
Great video. Make sure not to create a DBA with the first LLC or it will disclose the name and break anonymity.
Very informative as I was concerned about the bank wanting our information.
Glad it was helpful!
This is the only video I've found that has addressed all of this. Thanks for posting, it was immensely helpful!
You're very welcome!
Great Content, you answered quite a few questions I previously had. Thank you for your time and awesome content.
Glad it was helpful!
As I read the various comments below that folks have about existing LLC structures and especially the tax burden from the IRS. I completely understand why many real estate investors that have major dollars invested move their money to off shore islands that are tax havens as well as other protection too.
What’s to stop an attorney from sending a subpoena to your firm demanding further disclosure?
Nothing but what would be the purpose of the subpoena? Also, anonymity is a smoke screen to discourage lawsuits.
Planning to start a group home. I need thia but how do you market the businesses and remain anynomous
As always, great content. There is understanding what needs to happen, and then there is the expertise to execute it. Get an expert!
Is the video about avoiding Due on Sale still coming?
Yes. I recut it last Friday after doing some more research. Just waiting for my team to edit it.
Question for ya Clint. Lets say I have a member managed WY holding company that is the member of multiple LLC's in various states that are also member managed. All for real estate, and I am the owner of the LLC's and set them up with anonymity as the goal. I do not use property managers, as I manage them myself. How would I write and sign a lease agreement without signing my personal name?
You will sign on behalf of the LLCs as the member manager e.g., Clint Coons managing member of WY LLC as its member manager. Better to just appoint yourself as an officer of the rental LLC and sign off as such.
Thank you for the continuous free content 🙏 Much love
You are so welcome
OMG thank you so much Clint for this breakdown this is GOLD!! no one knows more regarding the subject of structuring asset entities for asset protection and anonymity than your business!! VERY WELL EXPLAINED!! I need your help I want to set up a free consultation with you. I want to know what I need to do, if it is possible to move my almost 2 year old CA LLC to Wyoming not for Real estate property. I work in the Tax overages in unclaimed overages business. If I do move it to Wyoming will I be anonymous? or should I just incorporate a new LLC in Wyoming.
If you would like a FREE 30-minute consultation, you can request one here
- aba.link/30minSession
Clint great info. Would love to know more on this subject great job on this.
A great video that learning a lot of knowledge about LLC pivotal.
Glad it was helpful!
Only way to stop/prevent a pandemic, great work Clint!
Can i also use the first llc from wyoming, to create a separate llc for retail ... besides my Llc's for real estate?
Yes but keep in mind the retail LLC will need to be setup in the state where you are conducting the business.
Damn you're good, when you were drawing on the board, and you would explaining yourself and how to do it. I was kind of a step ahead of you and I don't have a business yet, I was saying to myself how they can track you a lawyer a pi and I was almost one step ahead of you and you exactly right this is what people dropped the ball when I get mine started I will be in contact with you in your business and I thank you for these educational videos sincerely yours nblv LLC which is not up yet love you man be good 🙂😄😀
You can use this if you want to. If you are being tracked in the winter time don't walk on the snow, I think you know what I mean. 😛
My question is around the liability piece. What happens when one of the llc's that were created under the original holding company gets sued or is liable, would all the other llc's also be liable? Would they go after the holding company and if they go after the holding company would all companies under that holding company be held responsible or can they go after those assets?
No only the LLC that is being sued is at risk unless you have done something to allow a creditor to pierce it veil.
What about property managers
How will they comply if the tenant asks for your info ?
The owner is an LLC not you individually.
This was great Clint. Keep up the great work.
Glad you enjoyed it
Great video. My question concerns anonymity with the checks I would be writing from my business accounts at the banks. I would have an LLC for my CA rental and the Wy holding LLC, both with bank accounts. Simple question: How do I fill out and sign the checks I may be writing from my expense accounts while keeping anonymity? Thanks in advance.
You would have an account in the name of the CA LLC and you would be the signer on the account. You would have to sign your name - there is no way around it.
what is the difference from a manage or member if the holding company is another llc?
It does not matter at the holding company level provided neither the manager or members are listed with the secretary of state.
6:30 Since title will be held by MyTrustee LLC, how important is it not to use my own name (Terry) as the "Organizer" for the in-state beneficiary LLC (e.g. "LoveCal, LLC")? The identity of the LoveCal LLC is not disclosed anywhere except in the Assignment of Beneficial Interest document (which is private) where I assign Terry's beneficial interest to LoveCal LLC after I've deeded my property to my Trust with MyTrustee LLC as Trustee. There would be no reason for anyone to look into LoveCal LLC because it's not on title and it's not even in the Land Trust. Thanks in advance
If you set up LLCs on your own you will not be able to have anonymity with anything the LLC touches.
How would one cleanup/move an LLC that was setup prior to creating this structure for anonymity? Is it even possible or do you just need to dump the entity and create a new one which would be a headache with existing contracts, accounts, etc.
Frank check out my response to Talo Tupou.
@@ClintCoons Thanks Clint. I watched your video on LLC anonymity which provided same guidance. Very helpful!
@@frankrobinson6615 Thanks for watching.
Awesome thank you! What do you do if you have a company setup and the still make you the organizer of the llc? what to do then?
Nothing. The organizer is permanent.
Clint, thanks for the video. Question: Let's say I have my Holding LLC in WY and my Operating LLC in another state. The member in the Operating LLC is the Holding LLC - as the video suggests. How would I sign contracts and such for the Operating LLC? The only member would be the Holding Company. Thanks for any clarification you can provide.
You would appoint yourself as a president of the operating LLC and sign as such.
@@ClintCoons Thanks Clint. Would my anonymity still be protected if I were the non-member President of the operating LLC?
Delaware ask for all the names of a c corporation, should one set up statutory trust instead for commercial real estate property?
Yes or consider a WST. See my video on statutory trusts.
What about the Property Deed? Couldn't a investigator theoretically go to a county website and search your name and find all the properties you own in the county via the Recorded Deed or recorded Mortgage which you have to close in you name.
Hi, thanks for the good advice.. my question is, I have quite a few LLC's started in Indiana, where I am the manager and or member.. can I form an LLC in Wyoming, and then change the Indiana LLCs to be owned 100% by the Wyoming LLC at this point still, or do I have to create all new Indiana LLC's? I would also change the registered agent, organizer ect in the process.. thanks!
Yes you can assign your membership interests in your IN LLCs to a WY LLC and you do not need to start over.
@@ClintCoons Thanks so much for the quick reply man I appreciate it! Great video and content
Thanks, Clint for sharing the asset protection strategies. regards
Raj Salaria
Thanks for watching.
Great Stuff! Can you do a video on 1031 exchanges. And doind it from a Residential Property thats in your name to a Commercial Multifamily using a Hard-money lender to then rehab and refinance. When should one considered putting it in an LLC using the landtrust method? And how should one collect rents from tenants on the other units during rehab?
Yes that is a great idea. I will put something together.
How much time it takes to setup whT you described. Similar. 1 member llc and range cost
If you would like a FREE 30-minute consultation, you can request one here
- aba.link/30minSession
Thank you for this information its so valuable. What about annual filing of Statement of Information. If you file yourself does that expose your identity?
Yes it does. You should not file it yourself.
@@ClintCoons thank you for explaining this for people.
Great advice, I have a Question. If I live in Texas and want yo buy real estate in the lower 48 states, am I allowed to have the Wyoming LLC to cover them? Thanks
Yes, absolutely
Clint, I have a service company and would like anonymity and CO protection. Is the following doable and would accomplish that goal?
1. Create a Wyoming LLC, e.g. Widget Holding Company LLC, manager managed with S Corp Election
2. Create a Texas LLC, e.g. Widget Service Company LLC, member managed with Widget Holding Company LLC as the member.
Yes
Amazing information. You are great! Thank you.
What about a Series LLC with the property in a land trust?
Yes provided the state where you hold the real estate recognizes the series structure.
What would I have to do to have Anderson set up a LLC for my brokerage account?
If you would like a FREE 30-minute consultation, you can request one here
- aba.link/clintss or you can send me an email at ccoons@andersonadvisors.com, and I will have someone contact you.
I must say Thank You Very much for all your contribution(s).
Great Tips!! Question, what address do you recommend putting on the Wyoming LLC checks when you want anonymity?
A PO box or other address not associated to you. When my company establishes a WY LLC we provide our clients with a WY address for this purpose.
@@ClintCoons thank you!!
Thank you so much!! Will filing a company In WY as a holding company be exposed if this company (filed as an S corp for tax purposes) pays its owner a salary ? Also if the subsidiary LLC in a different state let’s say , WA . do you guys do the register agent or organiser in WA under your name or can I use someone else in this state ?
Yes we serve as RA in all 50 states. In your situation if would be better if the WA LLC is an S-Corp and the WY LLC member is disregarded
Thanks Clint. But wouldn’t be this true that LLC can’t own an S corp? Im asking this question because if I have let’s say four properties, each has it own LLC, the Holding company for those properties in WY, then I will be paid by this WY Holding company, instead of getting paid for each company separately?
Clint, what if a person, entity or authority subpoenas the organizer (e.g. Anderson Business Advisors), do you then have to disclose the member's information? Or will the member be protected under ACP? Because how can one be truly anonymous if he/she can be subpoenad?
We would have to disclose. Anonymity is about creating a smoke screen so someone WHO IS CONSIDERING suing does not know what you have. Once a lawsuit begins, you may have to disclose the members IF the members have possible liability otherwise your attorney should object to the disclosure on relevance grounds.
What is the reoccurring expense of using such a services
Hey Clint, You did not address using AKA's to set up companies. I know for a fact most federal law enforcement agencies use AKA's( Also Known As) or ( PKA) when they are setting up shell companies. And the other thing you did not address is investigations undertaken by Dunn and Bradstreet and other credit rating agencies. When the company goes to apply for credit. Dunn and Bradstreet will require one officer to identify themself and that you provide a lease where the business is doing business at. Most banks want to see a DNB report when loaning to someone using an LLC. Also, DNB was one of the companies pushing for the Corporate Transparency Act. They are due to get a very large contract from FINCEN, this is the loophole that no one's talking about
Wayne you are correct. Anonymity and credit are not friends. I covered that topic in this video. ua-cam.com/video/hyEcPuDpgfs/v-deo.html. Thanks for watching.
How do we open a bank account with Wyoming Llc as the holding company for an entity in another state ? How do we prove we are the owner? Also do you provide RA, Address Organizer services in Wyoming?
You would provide the articles of organization, EIN letter, operating agreement and use your personal address for the bank account address.
How does the manager of the subsidiary (me) get paid? Does the subsidiary pay the manager a salary that’s defined in the operating agreement? Or do I only get money from the wyoming holding company? I feel like the subsidiary should pay me a salary for managing operations and then I also get distributions from the holding company.
Depends on what type of income you want to receive. Management fees are active income subject to employment taxes. Distributions are passive and avoid employment taxes. Most people opt to take distributions.
can you open a Wyoming LLC after you've already open a Florida LLC and register it as a member or will it still get tracked back.
Please make a Video on Oregon Res. Rental house LLC set up, & using it with a Wyoming Holding LLC do you have to reg Wyoming Holding LLC as a foreign agent in Oregon? & BOI reg too
Yes with the BOI, but no as to foreign filing the WY LLC in Oregon.
@@ClintCoons I ordered yours books Next Level Real Estate Asset Protection & Real Estate Asset Protection + Toby's Infinity Investing finished them all worth reading Thx for reply, a Off Shore asset plan video for a trigger/bridge LLC/trust accounts video to more affordable countries then Cooks Island, Nevis, Cayman Islands and Belize. All way over priced 35k to 150k set up is out of most of our budgets. what are some other countries with way better prices? for LLC or Trust?
@PortlandWhiteDoveRelease Have you considered Dubai? We have an office there, and the fee is 1/3 or less of what you are mentioning.
@@ClintCoons My visit to Dubai ua-cam.com/video/tDtZiqqBVFc/v-deo.htmlsi=zxPiND9f0OJF-ouy I took a trip there a few years ago & didn't look at a entity or bank account investments nothing other than gold. Met a few from UK people doing business there & they had bought homes earlier when they use to be cheap, I've been looking there in Dubai, Nevis, Portugal, Belize, Good to know you have a office there, from what I've seen Nevis & thinking of them for a LLC so far banking maybe Singapore or Hong Kong, Dubai in my opinion you need to live there part time & it's over priced for about everything unless you have a job there in that case they pay well in certain fields. What to you think of Mercury Global Acquisition? hear's there's a pause on them. What do you think of Lili & Relay for LLC banking?
Do trusts provide asset protection, how should i purchase property against lawsuits
Irrevocable trust do and a Florida land trust. Revocable trusts generally do not provide any asset protection by themselves.
GREAT EXPLAINATION! Thank you for sharing.
Very thoughtful and detailed.
We are four friends(one lives in florida, one in Boston, two in NJ) is planning to purchase one rental property in Florida. How and what we should to about land trust and wyoming LLC? In which account we deposit the rent? Can you please elaborate steps so we can protect our assest?
Are you self managing or using a PM?
@@ClintCoons self
@@ClintCoons Self....Can we close just by using our name and take a check on one name then distribute?
@@educationsciencecraft If you are buying for cash then close in a FL LLC and collect the rents in the LLC and distribute to the member.
Speaking of bank & IRS, if there is creditor, legal case to reveal all your assets, cannot the lawyer ask the judge to get an order to obtain your tax return and bank statement for last 10 years and hence will be able to see your income & assets and where your income is coming from? If the answer is yes, there’s no way to hide from anyone who want to go after your assets.
You are correct. If a judgement is entered against you and you are brought into a debtors exam, the court can require you disclose.
Thank you for your presentation. I had no idea it could be so complex, even for avoiding that disgruntled person. I've got a bit of cleanup to do, then I can get restarted. Thanks again!
Glad it was helpful!
Management Type: for the actually Wyoming LLC Member Managed or Manager Managed?
So to get anonymity register LLC in wy or del then don’t put your name or address on anything. What does registering in those states really do for you when it seems like the sauce to this is to just simply not put your name/address on anything?
It allows you to set up LLCs in states that require this information and not have to disclose your involvement.
Use a microcut or chipper paper shredder, not a cheap slicer shredder that produces long slices that are easily arranged back into the original page.
You want a shredder that produces very tiny confetti.
Haven't seen strip cut shredders in a while, cross cut seems to be the most popular nowadays. Staples has them for about 40/50 dollars.
Whoa, just fell down a rabbit hole.
While I'm here, you have my full attention..
I understand about the subsidiary LLCs being member managed, with the sole member being the Wyoming LLC. But how should the Wyoming LLC be set up? Member-managed or manager-managed? And should you be a member, or a manager of the Wyoming LLC?
The WY LLC is manager managed and you are the manager of it.
How do you take advantage of the 'home based business' tax opportunities if you have a different address other than your home? lets say you have a virtual address.
Could be more specific as to the opportunities you are referring to? Do they require you use your home address?
One question I had though on the anonymity front. Can the RA or legal counsel file the annual report on behalf of the LLC? Wouldn't someone be able to look up the name of the person filling out the annual report to find out your identity otherwise?
Yes this is how it is done. We will prepare and file the annual reports for our clients to keep their information private.
Clint- kudos thanks for this, totally understand the structure.
HERE IS A TWIST: So got a Wyoming LLC A, setup via a third party and they are providing a WY business address too. Op agreement for this LLC A is Manager Managed. Planning to purchase property in another state, let's say Pennsylvania. On the forms for that state they don't distinguish between Member or Manager Managed, they just need a registered agent, organizer and business address.
Could we just have the WY LLC foreign file in PA via a third party registered agent in PA? Seems like we'd still have anonymity.
What is the advantage of setting up a distinct new LLC B in PA? Is there some other disadvantage to our WY LLC A being foreign entity in another state?
IT would be more expensive to file in WY then register to do business in PA. Better off just setting it up in PA. Also any benefits you obtained from using WY will be lost upon filing in PA.
@@ClintCoons We kind of like the idea having a WY agent & business address to give the impression while LLC A is doing business in PA we are from 'out of state'. What benefits are you referring to that LLC A would be lose upon doing a foreign entity filing in PA?
@@angelspayments1487 Some individuals want to use WY for creditor protections afforded to LLC members of a WY LLC. This benefit does not apply once an LLC is foreign filed in another state if the other state's laws are not as robust.
I used an aka for the ra one time. Banks and marketing companies ASSUMED it was the owner.
Hello Kint!
How much do you charge to create an LLC in Wyoming I just like the idea of Anonymity? Thank you
Hi Clint, how does the money get disseminated after it leaves the property management company? Which llc receives the P.M.C.information so owner can receive payment? We have multiple properties in 2 states and need to enhance anonymity and assest protection.
It depends on your PM. Some investors will set up a separate bank account for each LLC and have the PM send payment to the specific LLC. If your PM will not send multiple wires then I would have the WY LLC receive the payment and owner's statement.
If operating a home where the tenant's rent is being paid by a charity organization who wants to be sure the home is in fact mine. How would i go about that??
Provide a copy of the operating agreement and your EIN letter from the IRS would be a great start.
Excellent advise Clint. Thank you.
Glad it was helpful!
Thanks Clint soooo informative
Regarding the business' address, who do you list for the CMRA? Most middle-men who offer these virtual address services aren't very reliable.
We provide an address for our clients.
@@ClintCoons Right but the person (me the client) needs to provide ID and sign for the USPS mail, correct? Thanks for the quick reply)
@@davedriscoll6324 There is a form you need to sign to permit us to receive mail on your behalf.
Hi Clint. Thanks for your great info. If someone has properties in CA and currently has them in a rev liv trust would it make sense to transfer them into CA llc then have a WY llc own the CA llc and put all llcs into the rev liv trust?
Yes, absolutely
So...can a Wyoming LLC be listed as the manager of say a Georgia LLC if it is the owner? I know you said member managed is the way to go but I dont see why it can't be Manager managed as well since Wyoming wouldn't point back to the true owner
Yes it can however, some states require the management entity to register but not the member manager entity. If that is the case then it does not work. Second, if the state collects information on the members and managers then it would be best to go with member managed.
Clint very helpful! I'm a big fan of your content and have been spreading the word about your channel.
I am getting ready to open a real estate wholesaling business soon. Do you have ideas on how to incorporate Anonymity on the BRRRR (Buy- Repair- Rent- Refinance- Repeat) Method ??? And which type of LLC should I use? LLC--> S-Corp is what I am thinking. Thank You!!!
Check out this video and I have a followup coming out in 2 weeks regarding the anonymity. ua-cam.com/video/QG7eYHVmJi4/v-deo.html
What address do I put for Manager's Address on the Cert of Formation document? Can I add the Registered Agent's address in that field also so that I don't have to put mine?
You can not use the RA address. You will need to use another address - preferably not your home address. We provide mail forwarding service for entities we create for our clients.
When you file annual report i can put the company name as the signature instead of my name?
You can try and see if they will accept it.
If I registered my WY LLC as member managed and listed myself as a member, wouldn't I still be anonymous since WY doesn't share member details? I have a RA (not me) and am using their address for the business. My RA does my annual filing as well. Please advise and thank you!
Correct.
Great segment really covers it all, Clint is right you can not do this all by yourself- some third parties help with registrations and addresses are needed to make your LLC anonymity bullet proof! Here is Question with a twist on this: Suppose I live in Kentucky. The property to be purchased is a vacation property in state of GA that I do NOT intend to rent. But I still want the anonymity. Can I just purchase the property with an anonymous WY LLC setup & maintained by a third party and leave it in there? Is the answer any different if I do want to rent it later but as a weekly lease (no long term tenants, just seasonal vacationers)?
Yes you can purchase it with a WY LLC. When you begin renting then you should FF in GA. If you still want anonymity you will need to add an additional WY LLC when you begin AirBnb
@@ClintCoons thanks! In the weekly rental scenario what role does the additional WY LLC play? And it's relationship to the other LLC?
@@angelspayments1487 It does not have a roll with the tenant. It roll is to own the real estate rental LLC.
Can I do an amendment of the entity I have in my own name now to where when I'm done it no longer shows my name? Or should I start from scratch and form a whole new child LLC with the parent Wyoming LLC? I would hate to see the money I put into my current LLC wasted but it defeats the purpose if I go through the hassle of doing the amendment and the creditors are still able to follow the paper trail leading to me as the owner.
Yes this is a problem and I would not recommend you start from scratch. What we typically will do in your situation is set up a Personal Property Trust to hold your existing LLC interest and assign the PPT to the WY LLC. This is a bandaid but it will keep your WY LLC and future LLCs from being tied back to an existing entity you are related to via the prior list of managers or members.
@@ClintCoons If going this route, will title transfer in California trigger transfer tax and property reassessment? Because the LLC interest would now be the PPT which is owned by the WY LLC...
Also, what happens if the LLCs that have already been created are set to manager managed? Will changing them now to member managed as you suggest blow our cover? Amendment forms need to be signed by the manager.
@@seeyouthere Yes. Also, I think a lot of your questions could be answered if you join me for a one-day live event I am hosting this Saturday at 9:00 am PST. The event will cover asset protection and tax planning for real estate investments. Here is the link to register: andersonadvisors.com/tapw-03-27-21/
Manager member would be the gp
Membering member would be the lp? If I was gonna do that type of structure correct?
An LLC does not have GP or LP members. If you want anonymity you set up an LLC that is member managed by a WY or similar LLC that does not collect any information on its member.
You're a monster with this, keep the info flowing!!!!
Thanks! Will do!
When you are setting up a PO Box, they required you to provide a residence address (where you live) in order to set up the PO Box. Now, if someone needs to know who owns the PO Box with a subpoena there is nothing you can do to prevent the release of that information. Is there a way around it when setting up the LLC and using a PO Box?
Correct.
Great video. One question for thought. As the LLC organizer don't they have some control over the entity?
No they do not.
@@ClintCoons thanks!
In this example, when you setup WY LLC, I have RA and virtual address, and organizer, but the government still ask for member names in a manager managed llc, is this ok? Does that show up somewhere that creditors can find?
if the state doesn't collect any info how do they know who legally owns the llc or s corp
The state doesn't know.
So do you put the Wyoming llc as the organizer when you doing ur Florida llc annual report ?
As the member
@@ClintCoons thanks for the help. Is there a link to book a call?
@@straightdroppTV4662 look in the show notes for the link.
Thanks for the valuable info. I ASSUME there is no state tax in TX and that is a tax advantage of setting up a LLC in TX. But, it seems like there is no anonymity shield for the LLCs in TX. Is there a way to set up a LLC with anonymity shield and tax advantage?
Yes you set up a WY LLC to be the member manager of the TX LLC. Very effective.
@@ClintCoons ok. Thank you very much for the info.
Could you address when you are trying to set up your credit profile with the Business Credit (ie D&B) and they ask you for your name, physical location, and per the website a utility bill/ lease agreement? How do you get around that when you have a virtual Shopify-type business?
That is very difficult and its one of the reasons why I do not recommend using an out of state entity to build business credit because you need much of what you stated.
@@ClintCoons Thanks!! Yes, I seek to build business credit and would like to stay anonymous (if possible) and my business will sell products online. So for most states (I'm in GA) even if we have the RA & Organizer we would still need to disclose our information/ names with the Sec of State correct? The information you have provided is excellent!! I'm wondering is it mostly for RE protection and not startups building business credit etc.?
What happens if the subpoena or depose the registered agent of my Wyoming LLC to find out who the owner is?
Great content, thanks!
Nevermind I read other comments and my question was answered.