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@kostas30312 жыл бұрын
Thank you for the information. Fantastic information. The only thing I didn't get is why not Wyoming LLC own the assets directly instead f indirectly through other llc's as you showed.
@ClintCoons2 жыл бұрын
If something goes wrong with one of your investments then the WY LLC is at risk and all of its assets. You use the separate LLCs to segregate and minimize your liability exposure.
@brad265 Жыл бұрын
Also the WY LLC needs to be registered in your state you do business in. That will probably put your name on public record.
@jose.davidvilafane194216 күн бұрын
@@brad265you can set it up to be anonymous
@richruelas2 жыл бұрын
Wow Clint, you gave such useful and understandable,l info on this. I have heard of people loosing everything and its obvious to me now how that can occur. This takes planning. I think you and your company really understands how to navigate through all of the laws regarding asset protection. I do not hear anyone getting into the details as you. Thank you again!
@ClintCoons2 жыл бұрын
Much appreciated.
@SCOTTJONES-e1c Жыл бұрын
Your hypotheticals are enriched with the game. Your omnidirectional coverage is definately a value add. Subscribing, Liking and commenting. Thanks Bro.
@ClintCoons Жыл бұрын
SCOTT JONES Thanks for watching.
@alliesteamc35462 жыл бұрын
Thank you very much for sharing your valuable expertise!
@Hans_MagnussonАй бұрын
Really great information 👍
@ClintCoonsАй бұрын
Glad it was helpful!
@tremerefury Жыл бұрын
Clint, what is your opinion of an anonymous LLC via Nevis?
@ClintCoons Жыл бұрын
Apples and oranges. I prefer to use Dubai as it is near impossible to get through. This type of planning is next level and is something to be considered if you are in a high risk profession or have significant assets.
@Rholmesjr1005 ай бұрын
Clinton what if the debtor committed fraud using the LLC. Will Wyoming allow foreclosure?
@googlergoogleplex6013Ай бұрын
This is fantastic. I absolutely love you people!
@Justification472 жыл бұрын
Hi Clint im confused. In your video 8 mistake made in an operations agreement you said you should have no charging order language, but now you are saying I should have the charging order language to be the exclusive remedy . Please explain.
@ClintCoons2 жыл бұрын
No I said you need charging order language. It is imperative.
@MsAllie-hf1bh2 жыл бұрын
Sir do a video on multi membership llc please for real estate investment groups.
@ClintCoons2 жыл бұрын
I have added to the list. Thanks.
@ediethesalsafreak2 жыл бұрын
Great vide Clint. What is the process exactly of moving your LLCs into your limited liability Wyoming company? Do I have to deed them over? Do I do an assignment letter? Do I do both? Do I have to file the above with Wyoming Secretary of State? That would be a great video for the future. I can’t seem to find this information ANYWHERE! Thanks again for all your hard work.
@ClintCoons2 жыл бұрын
Look at your operating agreement and find out the process for assigning your membership interest to another party. You want to make sure the transfer is compliant with your operating agreement.
@RobTaylorRTP Жыл бұрын
Would you be listed as a member or manager on the wyoming LLC when you set it up? Or would you have someone else listed for more anonymity?
@sarahsingleton20202 жыл бұрын
love this dude
@sachinanantha27152 жыл бұрын
Hello Clint, learning so much from you as usual. Thank you very much. I heard Texas dose not offer charging order protection for single managing member? If so does the operating agreement indicating that charging order protection is the sole resolution and foreclosure and receiver etc are not possible? Or the state has to support the statue and operating agreement alone cannot offer the protection on its own? If it needs to be the state statue protection then is the only solution to have the member to be LLC in Wyoming, Delaware, Alaska etc?
@ClintCoons2 жыл бұрын
Texas offers charging order protections for SMLLCs. Where did you hear that?
@sachinanantha27152 жыл бұрын
@@ClintCoons Clint, I read this on couple of lawyer websites that only 5 states (Alaska, Wyoming, Delaware, South Dakota and Nevada) offer charging order protection for SMLLC and Texas requires at least 2 members. (I tried to paste the links, but looks like my reply got deleted :)). But it would be great if you have a reference to the Texas statue that indicates charging order protections for SMLLC. Much appreciated
@ClintCoons2 жыл бұрын
@@sachinanantha2715 Here is the statute: Business Organizations Code Section 101.112. Here is a TX case on the matter: casetext.com/case/in-re-prodigy-servs
@utahmogul21 күн бұрын
Does the Wyoming LLC need to be a single member for charging order protection? I own Utah real estate with my brother.
@ClintCoons20 күн бұрын
Not at all. The charging order protections apply to every WY LLC.
@raakgu11 ай бұрын
@ClintCoons I have a commercial property. I want to pay you guys to set it up this way for me. Wyoming LLC Operating agreement And I have a business LLC I’d like to move into the holding company as well. How do I make an appointment to talk to you?
@ClintCoons10 ай бұрын
If you would like a FREE 30-minute consultation, you can request one here - aba.link/30minSession
@shovelheadseven Жыл бұрын
If you are not in Wyoming but have a Wyoming LLC as your holding company for Arizona rental property and reside full time in Caifornia do the protections extend to out of the state of Wyoming?
@ClintCoons Жыл бұрын
Yes the protections from LLCs extend to where you live.
@Walter12 ай бұрын
Where do you send the operating agreement for LLC?
@ClintCoons2 ай бұрын
Your operating agreement is private and is not shared with third parties.
@codetart Жыл бұрын
Since operating agreements aren't recorded, couldn't a debtor just write their operating agreement after they've been sued to include the charging order "sole remedy" language?
@ClintCoons Жыл бұрын
Yes you can restate your operating agreement.
@joshuabaker10682 жыл бұрын
Great video!
@ClintCoons2 жыл бұрын
Thanks!
@Darrell_lewis_massage_realtor Жыл бұрын
Does Texas still respect charging order for Single member LLC’s? I’m getting mixed info online
@tonischattauer1392 жыл бұрын
Good info! I am wondering: if there is a charging order against you personally, but you are employing this strategy/not taking distributions from LLC/creditor is just sitting on this uncollected judgment... what happens to that award or your LLC interests in the event you die with judgment still unpaid? Does your executor/trustee have to pay off judgment as one of your "just debts" or does judgment still attach to LLC or ...? Thanks for videos, I'm learning a lot.
@ClintCoons2 жыл бұрын
The judgement will expire after 10 years. The judgment would not expire because you passed but will after the requisite period of time.
@tonischattauer1392 жыл бұрын
@@ClintCoons So family would just need to be alerted to "stick with the plan" (no distributions) until 10 years after judgment. Got it. Thanks. (Not planning on gettin sued and not planning on dying real soon, but stuff happens!)
@jackprick9797Ай бұрын
Great information here. Thank you!
@ClintCoonsАй бұрын
Glad it was helpful!
@shermainesoh86422 жыл бұрын
amazing. but i wonder if these theory applies for foreigners?
@BigDaddyGarth2 жыл бұрын
You are a freakin beast, taught me so much
@ClintCoons2 жыл бұрын
Thanks Garth.
@maysabalout67252 жыл бұрын
Hi Clint- you are a GEM. Canadian investor going into Ohio shortly. I have to set up a CCORP IN WYOMING with LLC in Ohio… would CCORP own the house or LLC? How would we use you guys to structure LIABILITY if Ohio home LLC is sued?
@ClintCoons2 жыл бұрын
For Canadians we use a limited partnership with an LLC as the general partner. You do not want to use LLCs because the CRA will hit you with a double tax.
@SK-sy9fr Жыл бұрын
Hi Clint, I watch all of your videos, very informative thank you. Would I be able to buy a operating agreement that you’ve perfected over the years that you mentioned in this video from your firm for my claims adjusting business LLC
@ClintCoons Жыл бұрын
If you would like a FREE 30-minute consultation, you can request one here - aba.link/30minSession
@renegadephilosopher59965 ай бұрын
I have a question regarding a Wyoming based holding company. Once i have that business set up in Wyoming do I then make all of the subsidiaries member managed or manager managed? My gut tells me to do manager managed even though I own the holding company and the holding company is the sole member. Do I appoint myself as a manager of that company on behalf of the holding company and leave the subsidiary company manager managed?
@renegadephilosopher59965 ай бұрын
Anonymity is the ultimate goal here.
@renegadephilosopher59965 ай бұрын
Or should I do member managed, but have a clause that allows me to appoint an officer on the behalf of the holding company within the operating agreement?
@ClintCoons5 ай бұрын
The sub LLCs are member managed with officer provisions.
@renegadephilosopher59965 ай бұрын
@@ClintCoons I appreciate your response. Thank you.
@Magallo-sd6lp Жыл бұрын
Let’s say you are ordered a restitution and you create or already had this structure would that save your assets ?
@ClintCoons Жыл бұрын
You must have the structure in place before.
@Magallo-sd6lp Жыл бұрын
Before the legal fact or before you did wrong, thank you so much I have seen most of your videos and somehow has been for lot help.
@minihoneybee Жыл бұрын
If I set up a land trust for a property with me and partner as beneficiaries but assigning our interests to an LLC where we are the owner. Will creditor be able to go after the property in court because the LLC actually own the property and we are the owner of the LLC? Is this why you suggest assigning beneficiary interest to a Wyoming LLC in your other videos?
@ClintCoons Жыл бұрын
If the creditor is an injured tenant or someone the LLC engaged for services then the creditor will bring a claim agains the LLC. If it is a personal creditor then it is against you and not the LLC.
@fhf9672 жыл бұрын
So I shouldn't bother putting charging order language in my llc operating agreement if my llc was formed in California?
@ClintCoons2 жыл бұрын
Yes
@Shae810 ай бұрын
❤❤❤
@robertlalum14612 жыл бұрын
I was looking earlier at one of your videos and you said no charging order language should be in your llc now your saying it must state a charging order as a sole remedy as charging orders are the sole remedy in Texas where I'm at. Confused 😕
@ClintCoons2 жыл бұрын
I get it. You need the language in your LLC operating agreement and your LLC must be formed in a state that recognizes the charging order as a the sole remedy.
@dominicschiraldi23012 жыл бұрын
Hi Clint, if I have a C Corp/Stock in Delaware or Wyoming, can a creditor take the stock ? Or does the charging order protection allow me to keep the shares I have ?
@ClintCoons2 жыл бұрын
Does not apply to stock. Put your shares in an LLC for the protection - (unless it is an S-Corporation then you must set up your LLC as a disregarded entity)
@Greghh19602 жыл бұрын
Great Content. In the Platinum membership program you are offering, does that include assisting with the operating agreement language you talked here including a proper setup strategy of the multiple LLC's I may have in different states?
@ClintCoons2 жыл бұрын
Platinum does not include drafting operating agreements. We provide this service as well.
@theothertroll2 жыл бұрын
Why would you be collecting rent and retaining cash in a property’s LLC? 🤢
@Darrell_lewis_massage_realtor Жыл бұрын
RENTAL LLC ➡️Holding company ➡️you ➡️other cash holding company. 3 minutes to save your cash
@llcmanager6542 жыл бұрын
Thank you for all the content you make for us. Another attorney on KZbin makes the point that should they happen to connect you with that WY LLC, it more or less hands over all the other LLCs owned by it as a nicely wrapped package. What are your thoughts on this? I did create a WY LLC years ago after watching some of your videos, so thank you for all of your information.
@ClintCoons2 жыл бұрын
Could you send me a link to the video so I can respond? I would need to see his take on how this would be turned over.
@MekoWilliamsTV2 жыл бұрын
Clint Coons you are fucking awesome dude!
@ClintCoons2 жыл бұрын
Hah - thanks
@MrAdamLove2 жыл бұрын
If I have a LLC in Kansas does a WY LLC have to register with the state of Kansas in order to be a member of that KS LLC?
@ClintCoons2 жыл бұрын
It does not
@dman100000002 жыл бұрын
I'm a huge fan..I'm in South Carolina and not sure if charging order protection is the only remedy or not.
@ClintCoons2 жыл бұрын
It does not. SC allows for the appointment of a receiver and foreclosure.
@patrickmelson4745 Жыл бұрын
How important is the Operating Agreement for LLCs?
@ClintCoons Жыл бұрын
Very if you are involved in an audit or lawsuit. So long as neither occurs most people will never ask besides possibly a bank or title company.
@rheacecontracting2 жыл бұрын
How do I get an operating agreement from you guys for my WY LLC?
@ClintCoons2 жыл бұрын
If you would like a FREE 30-minute consultation, you can request one here - aba.link/30minSession
@mikhailbespartochnyy2555 Жыл бұрын
You mentioned that you have a great language in your Operating Agreement that you've refined over the years to make sure that your client assets are protected from personal creditors. Is there a template of that Operating Agreement that's available for purchase?
@brad265 Жыл бұрын
Gotta pay for it
@mikhailbespartochnyy2555 Жыл бұрын
I'm sure
@armobyzantine58812 жыл бұрын
Loan yourself money ok but how are you going to repay the loan if there's a charging order in the first place would the courts ask how did you repay the loan where did the money come from?
@ClintCoons2 жыл бұрын
Set it up as interest only and repay the interest per the schedule. If you do not then it would be considered a disguised distribution. I also assume the charged member would have other sources of income e.g., w-2, to help pay the interest. Further the loan should not be used to meet your living expenses otherwise this could give a creditor a possible in.
@armobyzantine58812 жыл бұрын
Ok the loan would be for business only use so the creditor would not have a possible in , but wouldn't the w-2 earnings be garnished from the creditor also
@radiuminvestmentsllc16172 жыл бұрын
Dear Clint If my CA llc is owned by a WY llc then it’s still a single member llc then can creditors or the court can still dismantle it and take away the assets? Or should it’s owned by 2 WY llcs instead?
@ClintCoons2 жыл бұрын
A personal creditor can only go after what you own and that is a WY LLC. You do not own the CA LLC.
@radiuminvestmentsllc16172 жыл бұрын
@@ClintCoons I’m worried if the creditors or court can pierce the corporate veil of the WY llc and take over the CA llc and/or the assets inside it?
@viracitycorp25772 жыл бұрын
how can you take out a loan if house/llc has a charging order already on it>
@ClintCoons2 жыл бұрын
The charging order attaches to the holding LLC not the upper tier property LLCs. You would work with a Non-QM lender to obtain the loan.
@mytunes29222 жыл бұрын
Another great educational session. Can you please provide a list io states that provide Charging order protection for single member LLCs? I could find just 5 Delaware, Wyoming, South Dakota, Alaska and Nevada What kind of protection does Virginia offer? If I and my spouse are members, do we get the same protection ?
@ClintCoons2 жыл бұрын
VA offers great charging order protections. I think you have the states that specifically mention single member LLCs but that does not mean VA would not provide the same protection to a SMLLC as it would to a multi member LLC.
@mytunes29222 жыл бұрын
@@ClintCoons Thank you
@nathanstitt74592 жыл бұрын
hey, this was an amazing video. a true asset on asset protection.
@ClintCoons2 жыл бұрын
Much appreciated!
@spiritakarabbit36910 ай бұрын
Thanks...
@gwillacey2 жыл бұрын
When you set up your UTAH LLC what do you put on the documents to show that the Wyoming llc is the owner?
@ClintCoons2 жыл бұрын
The name of the WY LLC
@303Estates2 жыл бұрын
Gotta say, you are a genius in this stuff, and thankfully, you think outside the box!!
@ClintCoons2 жыл бұрын
Thanks Svend
@303Estates2 жыл бұрын
@@ClintCoons if I needed your help setting up my 5 rental buildings, and creating a bullit proof liability protect, how do we do that...
@ClintCoons2 жыл бұрын
@@303Estates If you would like a FREE 30-minute consultation to discuss your 5 rentals and an asset protection plan, you can request one here - aba.link/30minSession
@rickertpropertygroup2 жыл бұрын
So damn good!!! Thank you very much
@ClintCoons2 жыл бұрын
Thanks
@terryseldon74462 жыл бұрын
👏👏👏👏😇
@neil56112 жыл бұрын
Need to book a meeting asap.
@ClintCoons2 жыл бұрын
If you would like a FREE 30-minute consultation, you can request one here - aba.link/30minSession
@demarcuswellington8305 Жыл бұрын
So informative.
@ClintCoons Жыл бұрын
Glad you liked it
@Steven-vi5nb2 жыл бұрын
Do any states provide charging order protection for a trust?
@ClintCoons2 жыл бұрын
They do not. If you want to set up a trust with asset protection, you might consider using a Nevada Asset Protection Trust.
@Steven-vi5nb2 жыл бұрын
@@ClintCoons Thanks! Follow up question: If I had all my large assets in a Nevada Asset Protection Trust, I financed an investment property in my personal name and someone was injured on the property. Would my trust assets be protected from a charge order protection against me personally?
@ClintCoons2 жыл бұрын
@@Steven-vi5nb The person injured on the property will bring action against the property owner. If the trust owns the property then the trust will be the defendant.
@Steven-vi5nb2 жыл бұрын
@@ClintCoons First of all, thanks so much for your expertise, the only reason I can have a semi-adult conversation about all of this is because of your videos! But, I think our wires are a little crossed. I'm wondering if my assets were in the asset protection trust, BUT the property in question was not in the trust (just in my personal name), would my trust assets be protected from any personal liability resulting from the property held in my personal name, not held in the trust. The context to my question is: If I did 90% financing on a $200k property, my liability exposure is only the equity ($20k), so not much. I'd get optimal loan options because we'd close in my personal name, not an LLC. But if someone got hurt on my "personal" property and sued, they could go after my $20k equity, which I'm okay with. But would my assets held in the Nevada Asset Protection Trust be protected?
@ClintCoons2 жыл бұрын
@@Steven-vi5nb Yes, I now understand your question. A claim made against you should not be enforceable against the assets held inside of the NAPT (this assumes it is properly set up). Keep in mind with NAPTS they are very technical and must comply with the statute to pass muster.