Rich people employ asset protection specialists to make sure that their wealth is preserved from any particular lawsuit.
How do we protect the assets and keep people from finding out about them? We do this is by using anonymous trust.
You already know about the LLC and the protections that an LLC is going to give you in terms of anybody trying to sue you and get you your assets. What you might not know is that as a matter of public record and traditional filing that you would do with Legalzoom or another legal website or your average CPA or attorney is that now everybody knows what you're LLC is? Well, what we use is a trust.
You can use a trust to be able to own the LLC well trust or private documents so nobody would be able to find out who actually owns that trust, where the beneficiary of the trust assets, you can own the LLC anonymous. You also know that the ultimate goal of actually having this LLC is to hold the asset. Your ultimate goal for this piece of property.
This piece of property has a deed, and on that deed it says who owns it. Well, if that's your LLC and people can connect it to your company's structure, if it's you, now they know that you own it. That's your worst case scenario.
But you might have not known that a trust itself can actually be the title holder to the property. This keeps anybody from being able to connect your property to your company. So in effect, you have complete anonymity. Nobody can find out who owns your company and nobody can find out who owns your property.
Scott Royal Smith is an asset protection attorney and long-time real estate investor. He's on a mission to help fellow investors free their time, protect their assets, and create lasting wealth.
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