Anonymous Asset Protection
Let us talk about a style of asset protection called Anonymity. What is anonymity? Anonymity means I want to become anonymous to the work so that if someone looks up my property, they don’t see Liran Aliav owns this piece of property. What they see is X, Y, Z owns this property.
Anonymity can be in so many ways. The most common style of anonymity is an LLC. You can name your LLC, ABC LLC. Well, that doesn’t say Liran Aliav on the title, so no one could find out just by that document that it’s me.
Now, there are other ways to find out who owns that LLC. So it’s not foolproof anonymity of an LLC, especially in California where when you register an LLC, you have to put the name of the person that owns the LLC on a document that I could easily click online and find out. So again, does it help with anonymity? Absolutely it provides a faint amount of anonymity, but can it be overturned.
So that brings me to another style of anonymity, which requires a corporation to be built outside of California and in one of these special States that don’t require your name to be on the LLC. So now you have an LLC and let’s just say it’s a Wyoming, so Wyoming LLC now opens up a California LLC, no name is here, because the name on the California LLC is now the Wyoming LLC. And that owns the piece of property. There you have it. Now you have anonymity.
Can I still be subject to lawsuits? Absolutely. If someone knows this is your property, they could sue you. If you already have a judgment against you and you do this by going to a judgment debtor exam, you will have to say that those are your pieces of property. There’s no way really around it.
Again, what is asset protection? It’s putting barriers in front of people. It’s making it harder at the end of the day and that will result in a better settlement or a just, “Hey, I don’t want to go through all this hassle, so I’m not going to sue you.” That is what you’re after. That’s the kind of asset protection that we’re talking about here, anonymities using LLCs.
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