Wyoming LLC for Asset Protection
Asset Protection Worldwide LLC is a company that helps entrepreneurs and small business owners protect themselves from lawsuits. Contact us today to see how we can help you protect yourself.
Wyoming is one of the best domestic jurisdictions for Asset Protection, as the sole remedy for a lawsuit in Wyoming is a charging order, you are afforded several benefits for asset protection planning.
International asset protection, or Asset Protection worldwide should be a consideration for individuals with considerable net worth, or who are dealing with a particularly liable field. America is a very litigious society, and every entrepreneur should consider domestic Wyoming Asset protection for their business, and Wyoming Asset protection for their personal wealth.
Wyoming asset protection is also useful because you can effectively anonymously own a Wyoming legal entity. Registered Agent Worldwide will file the documents on your behalf, allowing you to benefit from anonymous business registration in the United States.
Why would I want to own a business anonymously?
The advantages of owning a business are twofold – firstly, you cannot be located at the owner of the entity, you don’t become a target for predatory lawsuits. Secondly, if you are being sued personally, and they cannot find this asset, it will not be listed on the charging order. Furthermore, there are set ups in Wyoming where you could be sued, lose the suit and still be protected because of a comprehensive and well planned hybrid entity asset protection set up.
Is Wyoming the best state for asset protection?
Wyoming LLC’s are great for asset protection. They are inexpensive yet provide strong protection. Privacy laws in Wyoming are strong, and for the many individuals, a domestic asset protection plan may be enough. For those who truly want to have 100% bulletproof protection, International asset protection planning and wealth management may be necessary. Wyoming Asset Protection is particularly useful for Real Estate investors.
Other states that have solid asset protection are New Mexico and Nevada. States that have particularly poor asset protection purposes are Massachusetts, Florida and California
Is there anything I should avoid in asset protection planning with my Wyoming LLC?
Avoid lumping assets with liabilities in attempt to save money. Ideally, each segment of your business is separate and distinct, keeping what is valuable (cashflow, assets) away from what costs you money (long term liabilities, potential litigation, employees)
What else should I know about Asset Protection?
Asset Protection should be used to ‘get creative’ with your taxes. Asset Protection mitigates risk, and oftentimes saves you a boatload of money in the long-run at the cost of short term set up costs. The problem is most people wait until it is too late to start their asset protection planning – which can fall under the topic of fraudulent conveyance.