Would like some opinions on how I an keep my privacy

Question

Recently bought a property through a land trust for privacy concerns. I decided to renovate after a tenant moved out. The electricity has turned off and the utility company is asking for invasive personal info (say what you want, but it is invasive). I offered to put down a large deposit upfront so they don't have to worry about lending me electricity. They don't want to do this. I imagine they'll sell the data, which is why I'm trying to avoid having my name tied to the property. I'm not looking for data privacy opinions - just ones on how I can set up an account with the utility company without giving up my personal information.

I tried creating an EIN for the trust, but they asked for the actual trust document. I'm of course not going to give that to them. What are my options? I'd prefer to avoid setting up an LLC as I only have 1 property. Was considering trying to sign up as a sole proprietorship combo'd with a DBA, but I'm not sure if they would ask for identification like the trust. My goal is to be as simple as possible and not create an LLC for this.

Matt Devincenzo · Answer

If nothing else, get someone else to set up the account. Get the GC to include it as part of his costs, and then he'll bill you for the utility as part of his invoices.

Stuart Udis · Answer

@Stan J. I assume you are equating anonymity with asset protection, seems to be a popular position to take these days on Bigger Pockets with land trusts, entities in states like WY and NV being pushed. In your original post you mentioned you are renovating the property. Did you screen your GC and subs? Are there contracts between all parties with appropriate indemnification provisions? Is everyone licensed and insured? Did you obtain the appropriate permits to complete the work? Do you have a builder's risk policy in addition to a GL policy? Did you review the builders risk policies security requirements to ensure you are compliant? Last thing you want is to give your carrier a reason to deny coverage.  Do the contracts require additional insured status, and did you receive the endorsements along with the insurance certificates? How are you managing premises liability during the construction process when the building is vacant?   Focus on these action items over remaining anonymous. Not to mention are you really delaying access to electricity over anonymity?

Ned Carey · Answer

@Stan J. You want simplicity (no LLC) but you also want privacy. To some extent they are mutually opposed goals. A trust itself is by no means simple.

Consider sending the trust document with the beneficiary blacked out. If you are the trustee then you name is going to be on legal documents that need signing. So for privacy, someone else as trustee may be the right choice.

That said I think it is silly to expect privacy these days. You are in business. Why would a business person want privacy? Would apple be where it is today if no one heard of Steve Jobs? You are going to be dealing with all kinds of people in business; contractors tenants, property managers, various government agencies that regulate rentals, etc.. How do you expect to keep ownership a secret?

KC Ushijima · Answer

Have you offered to provide the Certificate of Trust for the land trust?

Are you the trustee of the land trust?

Counties typically require the trustee to be listed on the deed.  So if you are the trustee, your name may already be tied to the property as a trustee of the land trust.

Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice. No attorney-client, fiduciary, or professional relationship is established through this communication.

Henry T. · Answer

It is invasive. It used to be that the only agency that had, or was allowed to have your SS# was the IRS, and they recommended NOT giving it to anyone. Now everyone has it. Maybe you could solicit your congressman to make changes to the Patriot act. Good luck.

Would like some opinions on how I an keep my privacy

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