Anonymity Is Your Best Asset Protection Strategy

Is anonymity the best form of asset protection? Asset protection is vital to many real estate investors who are trying to build a legacy. In this video, Clint Coons, Esq. will discuss why anonymity might be the best form of asset protection against lawsuits.
Clint Coons Esq. has spent many years building up a strong, real estate empire that has required him to implement asset protection strategies that have aided him greatly over the years.
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"A lot of people don't grasp the benefit of using tools that reduce your overall risk exposure through anonymity planning." 0:18
Together, we can discuss the importance of anonymity and its uses for asset protection.
Don't fall victim and allow others to take away your hard-earned assets. There are ways to legally protect yourself and your things, which is one of the reasons we made this video.
Helping you learn and spreading the knowledge we’ve accumulated over the years is always a pleasure.
We hope that you have found our talk on anonymity and its benefits for asset protection helpful.
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Comments are always welcome as long as they are positive. We pride ourselves on inspiring a positive, healthy community, so please remain respectful, and we will try our best to reach out to you.
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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.
#assetprotection #anonymity

[@JessieCarter-yy8hp]

I want this so badly before we move forward with our LLC's , however the "cash hit" up front to have it done was too much for us, as we are just starting out and our funds are extremely limited but the whole idea and setup is amazing !

[@mikecardenas_]

Explained so clearly. That’s the first I’ve heard of the PPT. Great info!

[@ClintCoons]

Glad you liked it!!

[@presidualist4587]

Same

[@konstantbloggerkbtv4556]

That's right the nominee sets it up

[@MarlonKingShow]

Thank you, wonder if this is possible in UK?

[@ClintCoons]

I'm not sure

[@ottertubetv9356]

Great info. At what level of wealth would you consider this service to be a beneficial consideration?

[@ClintCoons]

Any matter of wealth is worth protecting. If you have real estate and/or liquid assets I think using this strategy makes sense.

[@realforsmanable]

Clint, love all your videos, The question I have is when you set up your Wyoming LLC and in my case a Virginia LLC for real estate how do you find registered agents? and I Assume you want them for both states for anonymity is that correct.

[@ClintCoons]

Correct. We offer RA services in all states.

[@realforsmanable]

@@ClintCoons great thank you

[@Davion_savant]

Hello Clint , if the second trust request for managers names to form will it usually be acceptable to but only the holding or llc names alone ?

[@ClintCoons]

You would just provide the holding LLC name because it is the member manager.

[@alliesteamc3546]

Can you explain how and where to put one’s life savings. You mentioned put in LLC can you explain in detail how to do that ie is that capital contribution? Can one take out capital contribution from LLC without any kind of taxes? We know there is no way to take our money from c corp without paying unemployment taxes etc.

[@ClintCoons]

Put it in a WY LLC that is treated as a partnership or disregarded entity for tax purposes. You will not run into tax issues with this type of structure.

[@bross8337]

Happy new year Clint! Quick question! I created my WY LLC w nominee manager but now how do I protect the veil of that WY LLC when obtaining funding and creating misc profiles like online domains etc ? Example: Does making a DNB profile which entails all my contact info linking me to the LLC pierce my veil ?

[@ClintCoons]

When it comes to funding, anonymity may not be your friend. The good thing about Wyoming is the state does not collect information on the LLC manager or member so you should be better off with obtaining credit versus using a Nevada LLC.

[@XVIIWorld]

What’s the best way to execute this anonymity strategy and Still be in position to obtain funding for Texas llc and Illinois LLC? ​@@ClintCoons

[@EugeneMendelevich]

Hi Clint, how do you preserve your anonymity after setting up this structure when you have to sign "lease agreement"? For e.g., my understanding is that you would sign: , manager, WY Holding LLC, member, XYZ LLC If that's the case - you just gave away your name to your future tenant, so how do you do it w/o blowing up anonymity then?

[@ClintCoons]

Appoint yourself as an officer of the real estate LLC and sign as such. No need to disclose your holding LLC position.

[@EugeneMendelevich]

@@ClintCoons OK, I understand that, but you're still revealing your real name when you sign (or am I missing something?) Should we not be concerned about that?

[@kriskris5989]

For primary residence,if we buy it cash under a land trust and then try to refinance it,will it work or is it better to take title under our name first ,get the cashout done and then move it into a land trust?

[@ClintCoons]

Typically your name first is easier

[@bobjohnson1737]

Hi CLint, I've heard none of these strategies work if the property is already purchased in your name and you are trying to create entities after the fact since your personal information has already been collected. This is what my TX lawyer tells me. This only works for net new properties you are planning to purchase and getting it set up during the purchase process.

[@gb8518]

This is crucial information.

[@ClintCoons]

Yes and no. Yes you are in the chain of title but not on title. Most people do not look at the history only the current title holder. The purpose is to make you a big hairy mess that if some is looking he is more apt to say "I will take what I can get from the insurance policy and avoid coughing on the hair ball". :)

[@Bryan-wl4mj]

Does the Wyoming parent holding company structure provide any benefits over using multiple unrelated Wyoming operating companies instead? Correct me if I'm wrong but, if being sued wouldn't it be safer and more beneficial to have unrelated Wyoming LLCs instead of holding all LLCs under one Wyoming LLC?

[@ClintCoons]

The holding LLC is not going to be sued - the operating or property holding LLC is where the lawsuit will hit. However, you are correct in your analysis that having many different WY LLCs you will create and more confusing structure for an aggressive creditor.

[@alliesteamc3546]

Mr. Coons, did you say one can put their life savings in Wyoming LLC but can you explain how to do that ie is that capital contribution but can you take capital contribution out without any taxes or leaks to any taxes? We know not good to put money in c corp because one has to pay unemployment taxes etc taxes so one loses lots to taxes when one takes out one’s own money. So how to protect one’s life savings?

[@ClintCoons]

Answered above.

[@konstantbloggerkbtv4556]

Wyoming Delaware and Nevada each offer members LLCs whereas the Grantor or the person setting up the LLC resigns as soon as it's set up so they never see who actually owns it I learned that from you first and a couple others.

[@ClintCoons]

Nice.

[@courtneyreid4757]

✅️

[@mattkolasinsky548]

Hey Clint, does your firm require an EIN to obtain a solid custom Operating Agreement for an already-formed Single member Wyoming holding LLC? I have a colleague who had one set up but hasn't gotten an EIN for it because of being burnt twice already on less than ideal Operating Agreements, and wants to wait until buying a good solid one before getting the EIN.

[@ClintCoons]

Yes we obtain an EIN when we set up an LLC. Your friend can always restate his operating agreement and this will avoid setting up a new LLC.

[@mattkolasinsky548]

The Wyoming Holding LLC is already created, and already has a registered agent. Just the custom Operating Agreement is needed. Will you create the Operating Agreement first? My colleague is hesitant about getting an EIN number first and doesn't want you guys having her social security number if it's not necessary. She's gotten 2 Operating Agreements without having to provide EIN information such as her social security number.

[@onesri6108]

1st,

[@kutlessmedstudent]

i'm really confused, b/c when i talked to a lawyers in Wy over the phone, what they told me is that a series LLC is not tested in the courts so it's best to put each property in a separate LLC. also no matter how hard you try to remain anonymous, once sued, the courts will ask you to have the LLC disclose all assets, owners, and structure. and your lawyer will have to disclose everything about you as they won't get into trouble for you.

[@ClintCoons]

Anonymity is about not letting someone know what you have prior to a lawsuit emerging. Correct if your LLC is sued you would need to answer on its behalf so the atty is correct. Regarding the series LLC - I hear this as an argument to avoid its use but how do you know it has not been tested. Trial court decisions are not public and the only way an attorney would find out if a series LLC is sued would be if either party appealed the ruling. There have been some cases in different states and the courts have indicated their willingness to accept the structure provided the owner follows property guidelines.

[@kutlessmedstudent]

hi clint, this is what the lawyers told me when i did a phone consultation w/ them, i don't live in Wy, i'm from Ny so i don't know what what cases they have tried but this is what they said they have seen. I thought it would be easy just to get 1 Wy series LLC to purchase multiple properties in different states, but what the WY law firm told me is that it's best to start the LLC in the state where the property is located ie Penn LLC to hold a property in Penn. So i got a mixed reply to Wy series LLC, they told me they can do it and gave me the price for Wy llc & a series LLC. they told me a WY series LLC would have be a foriegn business and if sued the courts don't like deal w/ an out of state LLC so it's best that the LLC formed be from that state which would hold property from that state. So the plan i have right now is start a living trust which would own different llc in each corresponding states where the property is located, each property would be in a separate LLC. i was figuring when i get big enough i can start a series Wy llc or series tx llc as a property management company which would handle signing leases and dealing w/ tenants & a outside hired property manangement company which would take care of the property & collect rent. this way i wouldn't have to do this for each LLC as it would be a nightmare once i start to scale big & have multiple LLC. the penn lawyer (who also practices in NJ & NY) whom i've hired told me the only downside is if i'm personally sued i would have list the trust & everything in the trust as part of my assets, so she told me to get umbrella insurance. i'm still looking for a better structure so i'm open to any suggestions you might have, i watch your vids & live streams to gain any wisdom you may impart to your viewers. since i'm small this is the best structure which i have heard off, also none of the LLC would go into probate so my wife wouldn't have to deal w/ probate. a Wy series LLC or tx series LLC i was also thinking of using one of it's cell to open up a stock brokerage instead of opening up the brokerage account in the name of the trust. any ideas if this really matters. our personal home which we are looking to purchase in Penn would be in the trust. @@ClintCoons

[@ClintCoons]

@@kutlessmedstudent Correct - a WY series LLC will not work for your situation because the states you will be investing in do not recognize the series structure and if they did you would need to foreign file the WY series LLC in the state where the property is located. Another drawback to WY series LLCs is that each cell must be registered with the secretary of state so this adds to its overall cost and complexity. I would set up a WY LLC to hold your brokerage and interests in other LLCs that you set up in various states to take title to real estate. This type of plan will give you anonymity and provide an added layer of protection from personal creditor claims. Thanks. If you would like to learn more you can register for one of our upcoming Livestream 1-day Tax and Asset Protection Classes for Real Estate Investors. Here is the link: aba.link/KZbinAP.

[@kutlessmedstudent]

i'm still very confused as to what to do, and still trying to absorb and comprehend everything. it's worrisome, this is my life savings which i'm investing for my kids, to lose it to a lawsuit is heartbreaking. i will try to attend the seminar. thank you clint for all your help and support and thank you for your videos, i try to watch them pretty religiously, though i must admit alot of it goes over my head so i end up watch them more than once and then read up on it online.@@ClintCoons

[@ClintCoons]

@@kutlessmedstudent You will get there. Thanks for watching.

[@realforsmanable]

Hi Clint what do you think about Nevis offshore LLC for anonymity as the parent LLC and put the other LLC in the states into Nevis LLC.

[@ClintCoons]

I am sure that will work because only the Nevis LLC will show up on the list of members.

[@realforsmanable]

@@ClintCoons Do you ever work with Nevis LLC,s I'm very big on anonymity, not that I have anything to hide. But I have herd a lot about the government trying to crack down on anonymity in Wyoming ,Delaware and Nevada. do you think this will happen.

[@bamideleolora6923]

Do you know any states including District of Colombia that have perpetual corporations?

[@ClintCoons]

All corporations are perpetual

[@JSGroupofCompanies]

How much?

[@drewm.6070]

Does your law firm help setup these policies....

[@ClintCoons]

Yes. If you would like a FREE 30-minute consultation, you can request one here - aba.link/30minSession

[@Clyde3128]

I want to setup my llc

[@ClintCoons]

Great. If you would like a FREE 30-minute consultation, you can request one here - aba.link/30minSession

[@ladyv890]

Can they call the due on sale if they look at the Texas LLC and see that you're not the owner and it's just another LLC?

[@ClintCoons]

I am not sure how that would work if you are permitted to move the property into an LLC because there has not been a change in beneficial ownership since you own the WY LLC that owns the TX LLC.

[@denbleygv9238]

I thought you said in another vid that you cannot stay anonymous is tx bc you have to abide by their laws and they dont work under anonymity.

[@ClintCoons]

You can with a Wyoming holding LLC

[@loulupero4147]

Clint we have properties in MD. Investing & residing in FL. Can properties be incorporated Wyoming LLC? Purchasing multi family 5-32 plex properties. Do you service FL & going need Attorney? Thanks!

[@ClintCoons]

Lou the MD properties would be incorporated into a WY LLC via separate MD LLCs. We would not have a WY LLC directly own the MD properties. Yes we can assist with your entity formations in all 50 states but we can not serve as legal counsel for closings etc.. If you would like a FREE 30-minute consultation, you can request one here - aba.link/30minSession

[@loulupero4147]

@@ClintCoons Thank you. Contact your team for 30 minute consultation.

[@julientruman2203]

I'm assuming this doesn't work if you the person suing knows about ur asset tho (like a spouse) doesn't this strategy only appy to random people that are not privy to ur lifestyle??

[@ClintCoons]

Correct

[@tomjohnson5700]

How difficult would it be to sell your automobile when your name isn't on the title?

[@d.ryanwu4698]

Thank you so much for these great videos! They really encouraged hard thinking about asset protection and anonymity. When it comes to a Wyoming parent LLC forming member managed Oregon LLCs, it seems that the anonymity may have a problem (Section 13 at sos.oregon.gov/business/Pages/articles-of-organization-form-instructions.aspx). Because Oregon requires name and address of at least one person who is a member or manager of the LLC or an authorized representative with direct knowledge of the operations and business activities of the LLC. It doesn't seem a registered agent will suffice the requirement here. Is there a strategy to go around it?

[@ClintCoons]

Correct. An anonymity option for Oregon is a Wyoming Statutory Trust rather than an LLC.

[@melhoresprodutos8899]

NICE Clint, i think if is posible ONLY for the Anonymity purpose i register the LLC in NM and after i register in Sun Biz with this data for the Biz in FL, then the Anonymity is total in this case,ok?

[@ClintCoons]

If you register a NM LLC in FL you will lose the anonymity.

[@melhoresprodutos8899]

@@ClintCoons Thanks, have a Nice Christmas🧙🧙‍♂☃☃🎉🎉🎆🎆🎄🎄🎄