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I don’t know any other case where someone can own an entity like a house, car, estate, etc. where they get to hide who benefits from it.
by itopaloglu83 3y ago
I don’t know any other case where someone can own an entity like a house, car, estate, etc. where they get to hide who benefits from it.
- toomuchtodo 3y agoYou can hide ownership in real estate using land trusts in states that support them. You can fund an LLC with a vehicle to hide ownership of the vehicle by VIN or plate search. In both cases, startup costs are a few hundred dollars, and ~$100-200/year upkeep per asset. Trusts in general are simply good estate planning compared to probate costs, at least on the topic of real estate holdings and titling.
- mcguire 3y agoThose are essentially shell companies.
- deleted 3y ago[deleted]
- ensignavenger 3y agoNew Mexico has fairly decent LLC privacy and you don't have to pay an annual fee to upkeep your LLC at all. Just need to have a registered agent, which can be had for under 100/year.
- toomuchtodo 3y agoAppreciate the info!
- itopaloglu83 3y agoCould you elaborate on reasons to do so? Using LLC to limit liability makes sense, but I’m not familiar with hiding identity behind a corporation.
- deleted 3y ago[deleted]
- toomuchtodo 3y agoPrivacy. My use case is obfuscating my life from data brokers. Law enforcement and the tax folks still know where to find me.
- itopaloglu83 3y agoPrivacy makes sense. Thank you.