All Forum Posts by: Weston Couch

@Dominykas Rimkevicius Hi Dominykas, welcome to BP! I would echo everything Alina said, but I actually work with an asset protection attorney group, so we specialize in this area and can give you in-depth feedback on your situation. If you're interested, feel free to connect with or DM me.

@Account Closed Hi Jonathan, I work with an asset protection group and we often get this question. The short answer is both if you want premium level protection. While umbrella insurance tends to cover most things, LLCs(and sometimes trusts) tend to keep you safe in the cases where lawsuits could be devastating despite insurance, and they can make it less likely any claims would even be made against your insurance. I know a lot of people are also surprised to hear how cheap setting up and maintaining LLC's can be because that idea that "they're over-kill" for anybody that isn't big is a common misconception. Feel free to connect with or DM me if you'd like to discuss your situation in more detail.

@Gary Dezoysa Hi Gary, I work with an asset protection group that often sets up anonymous entities for purposes like that. I'm thinking of a structure with entities similar to what you mentioned that could work but there are details I'd need to discuss with you before knowing. If you're interested, feel free in connecting with me or DMing.

@Arden Ballard Hi Arden, I work with the Royal Legal Solutions that Taylor mentioned, and we frequently use the Series LLC to protect assets. That website he mentioned is a great resource in general for the subject, but feel free to connect with me if you'd like to speak about it.

@Kyle McCorkel Hi Kyle, I work with a group that often deals with that issue. Forming a "partnership" with an LLC is generally a matter of adding member/manager language. I can meet with you to discuss it in detail if you're interested. Just connect with me or DM.

@Horacio Gutierrez Hi Horracia, I work with an asset protection group and we often deal with this concern. Generally, we use trusts which are non-public but owned by the LLC's themselves to get rid of any direct public link(such as transferring it to an LLC you or a relative created). To deal with the name on the trust issue, we have one trustee unrelated to you serving as the nominal trustee when you transfer property to it, then trusteeship transfers back to you in the non-public doc. Then we set up a wholly new LLC that doesn't own any property or trusts to serve as a property manager/contractor with the property managers. If you'd like to get into more detail, feel free to connect withe me.

@Chris Purcell Connect with me and I can share our blogs and articles with you, both of which have case-law.

@Nick Seav Feel free to connect with me or DM, I work with an Austin outfit that's kind of a "one stop shop" for all REI legal needs(advice, paperwork, etc).

@Matt Quock Sounds good!

@Scott Mac A legitimate concern for sure, but that's unlikely because of the full faith and credit clause. I can share some materials with you too if you're considering a Series.

@Matt Quock Hello Matt, I work with an organization that specializes in asset protection and the series LLC is one of our most frequently used structures. We can answer all those questions but it would be long winded if I go into detail here. Would you like to spend a few minutes talking about it? I can also share some of our resources on the subject. Just connect with me or DM if you're interested.