Corporate Citizen Behavior why out of State LLCs will not Protect You@The Lead Attorney


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10 Responses

  1. Jaja Jaja says:

    Only if the llc is in your name . The right lawer can separate you from the llc and have control it I believe . Not saying you is wrong . You set up more than one LLC and exposed to lawers . I would not have one in my name in the first place .

  2. Donnie Brasco says:

    Why are pulling money early in Coor Papers?






  4. rauns says:

    A WY LLC gives you anonymity… if you set it up properly. Most states you can easily look to see if a person owns a LLC or Corporation.

  5. James Anderson says:

    Thanks for making this video. Here is my response since this video is about a comment I made during the end of your live stream. We live in a litigious society. Of course we all need to conduct ourselves as responsible citizens and not be negligent, but somethings things happen that are not in our control. I conduct myself responsibly, but again we live in a litigious society. For example, as a parent, you can be personally held liable for what your kids do from a civil standpoint. Yes if your child mistakingly harms someone, you as a parent could be sued. My purpose for using a Wyoming holding company is for asset protection purposes only. The Wyoming holding company only provides outside liability protection not inside liability protection. According to the Official Code of Georgia Annotated, Georgia law will not apply to non Georgia entities even if that non Georgia entity is foreign filed in GA. Now I’m not sure of the law in other states, but in GA, the law protects me from having my Wyoming holding company subject to GA law, especially since the holding company is not operating in GA. The Georgia law has specific criteria for what constitutes a company as operating in Georgia, and my Wyoming Holding company does none of those things. My operating companies are registered in Georgia. The charging order protection for my Wyoming holding company works for asset protection because the holding company owns all my Georgia operating companies. This charging order protection for my holding company only works for outside liability protection but does not provide inside liability protection. Therefore If I get sued personally in GA or anywhere due to non business related, personal, accidental negligence, they would not be able to access my GA operating companies. The reason they would not be able to access my Georgia operating companies is because those companies are 100% owned by my Wyoming holding company, and I own my Wyoming holding company. In Wyoming, charging order protections are only extended to LLC’s , including single member LLC’s. A charging order protection basically means that the person or entity suing you only can receive payments from you when you take distributions from your company. The creditor cannot dismantle the company or gain ownership of the company. The charging order is the only remedy for the creditor. In the case of being sued and having a charging order placed on your Wyoming holding company, you would just never take distributions from the holding company and instead pay yourself a salary or pay yourself through management fees from the operating companies. This provides you with the leverage you need to reach a reasonable settlement with the opposing party. From my understanding, it’s a grey area on whether having a Wyoming holding company would lead to tax savings, therefore I would not recommend trying to use a Wyoming holding company for tax savings purposes. Also keep in mind that your operating companies usually need to be registered in their home states. The Wyoming charging order protection only works when non Wyoming operating companies are owned by a Wyoming holding company. Since the holding company technically does not do business in your home state, you can get away with forming it in Wyoming. Also keep in mind that the Wyoming holding company set up only is for outside liability protection. It will not protect you from inside liability in instances in which your operating companies are negligent. I learned about Wyoming holding companies from Anderson Advisors ( no relation). They have a huge presence on YouTube and have a company that advising businesses on asset protection and tax strategies. I don’t really use their services often due to the price, but their free content on YouTube is pretty good. Type in “Anderson Advisors Wyoming Holding Company” in YouTube.

  6. flowmaster8 says:

    all I can say is #FACTS

  7. A. Hutsona says:

    If you had a DE LLC but registered as a foreign company in GA, wouldn't you have to file in DE, GA's rules wouldn't apply.

  8. Brian Johnson says:

    Your Holding Company should be a WY LLC, that owns your state specific operating LLC(S) especially if your operating state has poor charging orders.

  9. Lord Sonic says:

    I have a Holding Co & Corp in WY and I have a multi home Rental in California. My attorneys are convincing me to open a LLC in WY to collect my rent and save on franchise fee. Is this correct?

  10. jaws2003 says:

    1. So true about people thinking that the court dramas are the same as the real thing. When I was fighting my ex for custody I got a real awakening. Which is why I don't watch law and order anymore. Especially how they enter in evidence. Lol.

    2. As for the Wyoming, Nevada ans Delaware LLC protections my ex did thus to "protect" her assets. Learning here I see that's not a good thing and is irrelevant. Also my attorney told me about the forensic accounting. He was telling me to do that it would be an extra 2k which he felt it wasn't worth it since I have majority custody.

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