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Updated about 5 years ago on . Most recent reply
Anonymous llc asset protection
I have two rentals about 100k each and going to buy a third. I have been thinking about purchasing a Wyoming llc and have a Texas llc for every couple of properties be managed by Wyoming llc. Is this a good route for asset protection?
is this a reasonable time to do this or should I wait till I got 10 properties in my name.
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#1 Short-Term & Vacation Rental Discussions Contributor
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- Greer, SC
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#1 Short-Term & Vacation Rental Discussions Contributor
- Investor
- Greer, SC
Yes I forgot about the anonymity part of your question.
A trust can give you anonymity. Only the trustee is recorded bot the owner/beneficiary.
My attorney set me up with a trust that owns a master LLC that owns individual LLCs that own one or 2 houses each.
This gives me anonymity, several layers of asset protection and will bypass probate when something happens to me and my wife.
My kids will not have to worry about probate they will just be the owners of everything one day.
In my state it is only $110 to create an LLC and there is no ongoing yearly fees or paperwork to submit.