I'm looking into something with the LLP as another user suggested. So far it does not look good. I don't know how he is able to set this up. I study what he wrote in the mentor group and asked an agent about it but he failed to help.If you ever figure out how to go about it please post here on in mentor group if that is better. I want to learn more about it.
Your company does look very professional, I visited your site Asset Protection and Tax Advisors - Anderson Business Advisors and see you are featured on Forbes which must stand for credibility of your firm.For US entity and asset protection structuring there are a few attorneys that are well versed in the matter. I would recommend Anderson Advisers as I worked and still working with them. They are not the cheapest, but they have under the same roof asset protection and tax attorneys, and also offer full book keeping, tax reporting and nominee services if you need it.
do you do company formation in Wyoming ?My understanding is that you will usually need to get sued in the jurisdiction where your entity is set up. Now will the US accept a foreign judgement, maybe, depending on the judge. If you want to protect yourself against foreign judgment, you can always open an entity or trust in Belize, St Kitts and Nevis, or other famous offshore jurisdiction that does not accept any foreign judgement.
For US entity and asset protection structuring there are a few attorneys that are well versed in the matter. I would recommend Anderson Advisers as I worked and still working with them. They are not the cheapest, but they have under the same roof asset protection and tax attorneys, and also offer full book keeping, tax reporting and nominee services if you need it.
Your company does look very professional, I visited your site Asset Protection and Tax Advisors - Anderson Business Advisors and see you are featured on Forbes which must stand for credibility of your firm.
Do you work together with a reliable accounting firm for Wyoming or Delaware companies?
The two companies that I mentioned are doing formation in WY. For formation only, there are also many other firms that will do it.do you do company formation in Wyoming ?
This is kind of interesting.However, if they can prove that you didn't follow the proper procedure in your LLC and make a case that it is your alter ego, they can pierce the veil and you will have no protection. Same if you committed fraud or if you move your assets into the LLC after being sued or after occurring the debt (fraudulent conveyance).
If you move fund out of reach of creditor when you have existing debt or knew that debt is coming, you are creating a fraudulent conveyance and a judge will have no problem voiding any transaction and reaching at the money to satisfy your creditor. Some state have lookback period for fraudulent conveyance that could be years before the debt was known. That is where some offshore jurisdictions are shining as they are limiting the lookback period and also creating a huge cost burden to the plaintif to bring the lawsuit into their jurisdiction, giving you a better hand to obtain a settlement.This is kind of interesting.
Let's say I set up a WY LLC, I have a huge debt to various creditors, now I start my business in this new WY LLC and start having money left over for equity in the company, after a year or two I have so a 7 digit amount which stands as equity, does that mean that the creditors can not access that company if it is all made as you described?
Is Wyoming LLC the only state where this works?
Now if you are creating new debt after the creation of your WY LLC. If you are sued personally, the asset in your LLC will be protected. However, if your LLC incurred the debt, your own personal assets will be protected, but not the asset of the LLC. The charging orders are to protect the LLC from outside liability, not from its own.This is kind of interesting.
Let's say I set up a WY LLC, I have a huge debt to various creditors, now I start my business in this new WY LLC and start having money left over for equity in the company, after a year or two I have so a 7 digit amount which stands as equity, does that mean that the creditors can not access that company if it is all made as you described?
Is Wyoming LLC the only state where this works?