All Forum Posts by: Jonathan Phillips
Jonathan Phillips has started 1 posts and replied 2 times.
Post: How to avoid having your houses come up when people google name?
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It's difficult to prevent such sites from web crawling data that is considered public record. However, a lot of these sites offer an opt-out request form that will remove your listing. Unfortunately, it's a manual process that varies across sites.
Alternatively, I've heard of a few sites that claim to remove these entries for you in bulk (across a list of various sites) for a fee, but have no experience with them.
Post: Primary Residence using LLC Questions
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- Votes 1
I'm looking to purchase a primary residence. Due to my profession, I need to maintain some level of anonymity -- i.e. need to avoid people easily searching for my name on the county deed/property websites. (Not trying to avoid taxes or anything similar)
It seems that utilizing a LLC, established in New Mexico/Wyoming for example, may be the best way to achieve this, as a holding company. Additionally, for estate planning reasons, the LLC would be owned by my revocable living trust. A EIN and associated bank account would be created for the LLC -- and the property paid for by the LLC (no financing associated with this property).
A few quick questions:
a. Are there any immediate or downstream issues that I may be overlooking with this type of setup?
b. Under this setup, if I decided to sell the residence after 2 years, does the Capital Gain Exclusion (Section 121) still apply? (Single Member LLC ("disregarded entity"), owned by my revocable living trust).
Additional note: The State of primary residence does not consider owning real or personal property as transacting business -- thus, registration of the foreign LLC would not be required.