Structure Your LLC For Next-Level Anonymity
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- เผยแพร่เมื่อ 27 มิ.ย. 2024
- Are you looking to structure your LLC for next-level anonymity? In this video, I'll show you how to do just that!
I'll show you how to structure your LLC for maximum asset protection. By setting up an LLC, you can keep your business and personal information separate, making it harder for people to track you down.
Learn more about how to become anonymous AND appear as if you own nothing at our next Free Tax & Asset Protection Workshop. Save Your Seat: aba.link/289680
Watch my video about Personal Property Trust for Privacy • Personal Property Trus...
If you want to keep your personal and business affairs separate, you need to structure your LLC correctly. I'll discuss the different LLC structures and how to choose the right one for your needs.
"Maybe you didn't do something right, and there's an opportunity now for a lawyer to pierce the veil." 4:02
Following the correct structure will allow you to increase your anonymity and protect your identity while still operating your business legally and transparently.
Whether you want to stay anonymous online or protect your privacy in the real world, this video is for you!
Watch my video until the end to learn how to structure your LLC. If you have any questions about LLCs or how to structure them, leave them in the comments below, and I'll get back to you as soon as possible!
Subscribe to the channel for more videos on protecting your privacy and anonymity in the digital age.
Show Notes:
0:00 Intro
0:13 Asset Protection
1:22 Examples & Scenarios
3:50 How LLCs Work
5:25 Personal Property Trust
7:51 Creating Another Trust
9:59 Outro
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ABOUT CLINT COONS
Clint Coons, Esq. is one of the founding partners of Anderson Law Group, Clint has grown his legal and tax firm to over 400 employees by assisting real estate investors with creating and implementing solid entity structuring plans. His success in these regards is in large part due to his personal investing experience. A successful attorney, real estate investor, and speaker, Clint has used his innovative and dynamic strategies coupled with knowledge borne from experience to help thousands of people save millions of dollars and build real wealth.
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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.
#llc #trusts #anonymity #assetprotection
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Good video this guy is the only person that explained it almost perfectly !! Thank you!! Great video
Glad it helped!
Brilliant, thank you!
Amazing knowledge 👏
I F’n love this guy!
🎉🎉🎉🎉🎉 Amazing ,
Thanks!
Thanks!
Love your videos!
Now, who should be the trustee of the various trusts?
I’m wondering if it gets anything for the grantor to also be the trustee. Or if that’s even permissible.
If the grantor (a natural person) is named as Trustee for the PPT, I believe it'll show up in the in-state LLC's documents.
@@terrycrawford6740 Suppose there is an LLC for grantor, trustee, and beneficiary? All three being the same LLC.
A separate WY LLC would be preferable.
Very informative as always. However, would it technically invoke due on sale clause if the property has loan? Also, maybe make new financing/ refinancing harder? Thanks.
Thank you for all of these GREAT videos! At 3:07, you mention that a predator could find the name of the red box LLCs' member at the Colorado state site. Then, do a search for the blue box, or Wyoming, LLC on the Colorado site. Is this state specific? Because in Ohio, when I search for the red box, all I see is my registered agent info. Ohio doesn't seem to list the blue box member anywhere. And there is no way to search for the name of the blue box.
Yes it is. OH does not report member or manager info.
In your example, would the PPT or Colorado LLC be the Beneficiary if you put the property in a land trust?
So step 1: Land Trust
Step 2: assign Beneficial interest to Colorado LLC
Step 3: Place Colorado LLC into PPT
Step 4: PPT Beneficiary is WY LLC
How is a PPT different than a Land trust? Are they interchangeable in this structure meaning could we use a land trust instead of a PPT with that being the only change in the structure?
I have seen in other videos where the trust and what states the assets are being held matter in a judges decision. Should you have a Nevada Asset Protection Trust for best protection?
That is definitely another layer.
Is placing the Title in the name of an LLC as this video explains, a better way to structure for anonymity?
My CA Rentals were set up a few years ago by Anderson as Mem Mgd:
#1 Property held in Trust
#2 WY LLC = Beneficiary of the Trust
#3 CA - C-Corp is the Manager of the #2 LLC
#4 WY Holding LLC is the Member of the #2 LLC
My Flips were structured as Mgr Mgd:
#1 Property held in Trust
#2 WY LLC = Beneficiary of the Trust
#3 CA C-Corp is the Member & Member of the #2 LLC
Your structure was set up with anonymity. Looks good to me.
What is a good idea for a trustee for this structure?
@@rangerstrade2268 Either a nominee trustee (preferably an attorney) or a WY LLC
Why is an attorney preferred? Does that discourage potential litigation?
Have 1 property in PA and 1 in NJ, which are not yet under a PA LLC created to own and manage.
Put homes in land trust with a temp trustee then transfer to WY LLC?
Should transfer PA LLC to WY or create new WY LLC?
PA is complex. If you move it into an LLC you will pay a transfer tax. I prefer to use a pocket deed in PA. With a pocket deed you can skip the land trust. In NJ you could use the land trust. What you are looking to do requires you work with an experience professional to minimize the risk of paying a transfer tax. If you would like a FREE 30-minute consultation, you can request one here
- aba.link/30minSession
Educational as always, thanks! Is it permissible to say the LLC is the grantor, trustee, and beneficiary of the trust? Does that even make sense to do so?
You could but its not necessary.
@@ClintCoons Does One lose privacy protection when that happens?
@@frankmartinez2987 Not at all
@@ClintCoons Excellent! Thank you!
Clint, does this legally protective method also block the need for a BOI requirement?
No - I think the powers that be watched a few of my videos when drafting the legislation. 😂
What usually happens in situations where the trustee is a lawyer or a friend but they have resigned from their position and someone tries to sue the trust for some reason? Let's say it was a car crash, could they sue the trustee after they have resigned? Would they normally try to call who they think the trustee is before they pull the trigger? What would their lawyer be thinking in this situation?
Trustee is not liable. I have been in this situation before and I provide the attorney with my signed and notarized resignation pre-dating the claim and I am dropped.
Hypothetical: Company A owns company B; A creates the trust as you describe and does so in, say, Wyoming or wherever; A places B into the trust and names B as the trustee so, even if someone somehow figured out who the trustee is without knowing who the grantor is, they have reached the brickest of brick walls. Would that work?
Yes that would work.
Seven 7 progressive Senators have introduced S.2224 - A bill to amend the Internal Revenue Code of 1986 to deny interest and depreciation deductions for taxpayers owning 50+ properties.
Contact your senator
That one is dead on arrival but it is troubling because they may be testing the waters to try and pass something in 5 to 10 years that is similar - chumming the water.
Big REITs won’t be happy with this. In the unlikely event that it does pass I bet only private companies get hit.
With this structure, are the companies going to be taxed in Colorado or Wyoming, or both states?
The income is taxed in the state where it is generated.
I am in TX and I own real estate in TX. No mortgages, own outright. I showed this video to a TX estate planning and business attorney and he did additional research to confirm that Texas does not allow for unregulated trust companies to operate in this state. In other words, an entity operating as a trustee will need to register with the Texas Department of Banking as a chartered trust company, even if it is formed in a different state. So no WY LLC as a trustee without registration in TX. What do you say to that?
Good point. These attorneys will charge you for setting up your "asset protection" structure. And they will not tell you those companies must be registered in the state you are doing business. So when you get sued, the judge will deem all this structure a fraud. Veils will be pierced and all protections stripped.
@user-hd4lp7th8j The attorney is correct, if you set up an entity to act as a trust company and perform services for other in a fiduciary capacity you will be required to register. The purpose of the law is to protect 3rd parties from fiduciaries who mismanage assets, steal, etc. When you set up an LLC to serve as the trustee of a trust where you are the beneficiary not a third party so the fiduciary issue does not exist and, the law is not drafted to protect you from yourself. Also, you will note that I do not recommend your LLC be paid for serving as the trustee and finally, the trustee does not have any investment control over the assets, you as the beneficiary has all the control.
Further under §182.011you could seek an exemption (A state trust company may request in writing that it be exempted from specified provisions of this subtitle. The banking commissioner may grant the exemption in whole or in part, subject to Subsection (c), if the banking commissioner finds that the state trust company:
(1) has only family clients and transacts business solely on behalf of family clients and their related interests;
(2) is wholly owned, directly or indirectly, legally or beneficially, by one or more family members; and
(3) does not hold itself out to the general public as a corporate fiduciary for hire.
@@ClintCoonsspoken by a true attorney
Does the same go if the trust is a business trust?
Yes this works for business trusts.
Clint, I understand the trust owning the LLC, but I don't fully comprehend the trust having the Holding LLC as the beneficiary? Is this just the "hiding" principle? You mentioned that this structure doesn't change the tax structure- that part is confusing me. Do you have any other videos that spells this out in more detail? Thank you.
The LLC as the beneficiary provides asset protection. If the trust is sued the creditor can name the trust beneficiaries as defendants. This is where the LLC protects you. Search my channel for videos on land trusts.
Can I use the PPT for an LLC that has nothing to do with real estate? Let's say I have an LLC for manufacturing items. Can I protect that LLC with a PPT? Thanks for answering my question. Great video!
Yes you can!
@@ClintCoonsHow about land development?
@@your20downrange Will not matter if the LLC is set up for land or manufacturing, a PPT can hold the interest. BTW with land development make sure you are setting it up to minimize your taxes.
What prevents interested parties to see the beneficiary of the PPT , therefore linking it to the holding company and other subsidiaries ?
Only through a subpoena or discovery request.
If the WY Holding Co had two partners, one being an active and the other being silent, wouldn't this LLC be Manager-Managed with the State LLCs being Member-Managed?
Yes
I’ve actually thought of this but does this make it harder to get a bank account and fill out paper work?
For the trust or LLC?
@@ClintCoons for the LLC
I'm a sole owner. So my WY LLC should be manager managed and my IL LLC should be member managed correct? Using a registered agent in WY to create the holding company let's me use their address. What do I do for the IL address though if I don't want to use my home address? 100% online business. Or since it's all online should I just form them both in WY and use the same agent?
Ask the WY company if you can use their address and if they provide mail forwarding. We provide this service to our clients.
The anonymous is the beneficiary of the ppt. Is a wy llc the trustee and who is the grantor? Is a ppt the same as a land trust?
PPT is different than the land trust and it is set up by the property or entity owner.
This looks like a bookkeeping nightmare!
Better than losing assets due to laziness
How's the Corporate Transparency Act's impact on anonymity?
No impact
Clint, since you have over 150 rental units, are you drafting 150 separate Assignment Of Beneficial Interest documents from your WY holding company to the individual PPTs?
No because I do not have 150 LLCs.
I'm confused. Didn't you recommend one in-state LLC as Beneficiary of each Land Trust for each property?
@@terrycrawford6740The man is an attorney. Risk management is his game. He doesn’t need 150 LLC’s
What are your thoughts on a offshore LLC? Like a Nevis LLC? Would that add even more anonymity?
It could. Have you considered Dubai?
@@ClintCoons Hey thanks for the quick response. No I actually have not. I figured Nevis would be closer thus easier to get to if need be. I'm curious on what LLC would provide the most protection for privacy. Hate this age where all our info is accessable to the state and governments. What do you recommend and why? Looking to purchase property to live on.
@@user-cd7st4nk5q I think Wyoming or Delaware are great options. Both provide excellent privcacy.
Would this help with the new anonymous laws being unforced in 2024.
It does not.
If we follow your advice and structure our business the way you recommend, will we be able to separate our personal taxes from our business taxes? If our business taxes are reflected in our personal taxes, then the anonimity will be compramised
You are not trying to be anonymous in the eyes of the IRS,
Isn't it all changing come the new year?
No. You are referring tothe CTA and this information is only collected by the FEDs and not publicly available.
I can make my WY holding Company the grantor, trustee AND the beneficiary of this trust. Correct?
Yes or you can set up the trust and assign the interest to the WY LLC.
@@ClintCoons but there would be no reason to need to originally have the trustee someone else and then assign it to the WY LLC because states don't log trustees when you list trusts as members of LLCs when creating them. Correct? I know WY didn't when I made my WY LLC
@@CianTv1 correct.
Can we change the membership of existing LLc’s to personal property trusts or is it too late now? I have 5 Ohio llc’s which are owned by WY holding entity..
Great question
Do you own Real Estate in Ohio?
You could change but I don't think Ohio collects the member info on the state filing so you may be good.
@@ClintCoons Clint, how well versed are you with Ohio Incorporation laws, trust laws, and other things dealing with Ohio? Is it similar to Wyoming?
@@seanmclaughlin7415 Yes we set up entities in Ohio. Ohio is somewhat similar to WY.
With the new IRS beneficial ownership ruling of 2024, does all this change? Thanks.
It does not
How can you do the same for SDIRA LLC?
Yes but definitely get assistance.
Question-what if you intend to have your children as beneficiaries? Is it ok to name them (if they’re minors) on the PPT or is that not advisable? How can this be set up so that any assets from the LLC(s) go to your children?
Place the PPT in your living trust and let the living trust control the distributions to your kids.
Hi Clint, I am in Texas. Utilizing this PPT next level strategy, imagine a Wyoming LLC as the Holding Company, the Holding Company own a Texas Series LLC (on the left of the chart) and the PPT (on the right of the chart). When I create a new LLC under the Texas Series LLC, can I put the PPT as the owner of the new LLC? I hope I was detailed enough for you?
Yes but wouldn't you just create a new cell rather than an LLC?
@@ClintCoons My apologies, yes, I meant a can I put the PPT as the owner of the new cell under the Texas Series LLC?
@@trindon9439 Yes you can
Is this the new structure? Rental
Yes
Don’t forget the offshore trust if you’re married and don’t trust her
Ok i have a question i bet you cant answer. Ready. Im a writer. I want to write under multiple pen names. I want to oublish them through a publishing company. My own. I want it to be hard to find my real name so i cant be cancelled and harrassed. Doable?
@Missy-sx9zv Absolutely.
5:29
Isn't the trustee name public?
Yes on the state specific LLC filing
Clint. We have several free and clear properties in TX. They are in TX, LLC with no anonymity. This TX, LLC is treated as husband and wife LLC, so it is a disregarded entity for tax purposes.I am looking at setting up a WY, LLC for the structure you are showing and I do not see an option for it to be taxed as a disregarded entity. The ein application asks for number of LLC members, I would say 2, and it automatically states that the entire will be taxed as a partnership. Do we need then to file 1065 return for WY LLL every year, even tho it is just a holding company?
disregarded is default, you don't have to select a tax election for it to be disregarded
IRS website says 2 member WY LLC will be taxed as partnership if I get EIN. Hense 1065 form with k-1s. Why do I need that????
The IRS's very firm position is that a husband and wife 2 member LLC in a non-community property state, which is Wyoming btw, MUST file a partnership return. That means form 1065 - a separate partnership tax return. In a community property state you have a choice between disregarded and a partnership. So in TX and in CA a partnership is treated as a disregarded entity for tax purposes. WY LLC doesn't have that choice according to the IRS. Each WY LLC member is a partner and a partnership return must be filed, which complicates matters. These attorneys seem to sell you their company structuring, charge you for all these entities setup, yet they are not CPAs, and they are not showing you the costs of all of this accounting and tax filing work that such structure will require.
@AnastasiaDanielle that is because their system does not recognize that the members of the LLC live in a community property state. The online EIN system assumes the owners live in WY and thus, it not being a community property state will not give you the option to elect disregarded. This is a problem with the online application. Solution - set up the LLC with one member and assign 50% to your spouse afterward. If you live a CP state you can set up an LLC in any state and elect disregarded tax status provided the only members are a husband and wife (see rev proc Rev. Proc. 2002-69 or look up www.irs.gov/businesses/small-businesses-self-employed/single-member-limited-liability-companies). The state where the entity is formed has no bearing on the tax status you are eligible to elect.
@HH-cb2cw this is incorrect. A WY LLC whose only members are a husband and wife residing in a community property state can elect disregarded tax status for their WY LLC. (see rev proc Rev. Proc. 2002-69 or look up www.irs.gov/businesses/small-businesses-self-employed/single-member-limited-liability-companies).
Under the CTA Law, no more privacy
The information collected under the CTA is not available to the public.
Are you also saying attorneys and judges are in the public category?
Price
When we set up your LLC - $0
@ClintCoons how is it 0. Why would you set it up for free and how to contact you to set it up
@@starr8111 We don't charge our clients to set up the trust.
The IRS's very firm position is that a husband and wife 2 member LLC in a non-community property state, which is Wyoming btw, MUST file a partnership return. That means form 1065 - a separate partnership tax return. In a community property state you have a choice between disregarded and a partnership. So in TX and in CA a partnership is treated as a disregarded entity for tax purposes. WY LLC doesn't have that choice according to the IRS. Each WY LLC member is a partner and a partnership return must be filed, which complicates matters. These attorneys seem to sell you their company structuring, charge you for all these entities setup, yet they are not CPAs, and they are not showing you the costs of all of this accounting and tax filing work that such structure will require. Cheaper to buy umbrella insurance.
They are tax lawyers. Better than a cpa
@@Missy-sx9zv two totally different areas, no one is better than other. Attorneys say crap a CPA would have to unravel.
If you can create anonymity using a PPT, why do you even need a Wyoming LLC holding company?
Asset protection. The PPT does not offer any charging order protections.
He clearly said it’s a ADDED protection not an alternative. It’s an EXTRA layer to add MORE protection. This doesn’t seem like a simplification method but for more complexity actually.
@@nicholasthompson1394𝖱𝗂𝗀𝗁𝗍
When you say create on your own your all good. Well now I need to go to my DNV transfer my vehicle, what about the insurance? I’m sure Progressive won’t accept a trust.
@ClintCoons, is there still a way to keep anonymity with the new CTA for 2024 👀
How would sign the documents being owner of the LLC? Manager ABC Trustee? Do we need the full truetee name?
Technically yes you need the trustee name but if you do not include it and just sign as trustee then you should be covered e.g., List on the filing - 123 Trust Dated March 1, 2023 as the member.
I need anonimity from the govt not people
If your PPT is listed as manager this seems to conflict with your “who can be a manager” video, in which you say not to do this. If you are listed as manager and the PPT is just an owner you still have no anonymity, and you shouldn’t even list the members in states that don’t require it so the PPT doesn’t have any function.