Entity Set Up: TX or WY?
Hi BP,
I am very new to entity world here. However, I have recently been looking into asset protection for our rental properties.
Two companies came up 1) Andreson Advisors 2) Royal Legal Solutions.
Anderson set up a holding company in Wyoming which owned by a living trust. Then each property is individually owned by individual LLC that owned by the WY holding company.
Royal Legal set up a Series LLC in TX which owned by a living trust (I believe), then each property is owned by individual LLC that owned by the TX Series LLC. One of the thing that sounds attractive is that when comes time to file the tax return, this system allows investors to file with only one entity, which is the TX Series LLC.
Both companies have estate planning and SOLO 401K offered which is the same. I'm just more curious about WY or TX - what really are the differences in these two if any?
If you have experience about entity set up - please chime in :)
Lynn