Is the Wyoming LLC route the valid way to protect yourself?

[Carlo D.]

Hello to the Community.

I'm really confused. So although the common wisdom or recommendation is to talk to a lawyer (which I did) I'm getting conflicting advice on this whole issue of Wyoming LLCs and the level of protection and anonymity they actually provide.

For context and without going into the details of my situation, they recommended setting up a revocable trust and then setting up a Wyoming LLC as a holding company, then setting up a New York LLC owned by the Wyoming LLC holding company to hold the property for the asset protection and anonymity.

However like I said I am getting conflicting information/advice. One says it's great for the two main reasons mentioned above, one said it's B.S. due to different state's charging order protections and state's propensity to respect other state's statutes. Also, if I am ever sued in court and during the discovery process I'm asked to list all my assets, I can't just not casually mentioned the Wyoming LLCs and trust right? That would essentially be fraud and a fast track to jail?

Really hope someone can give clarity or at least share what they did when setting up their structure. Thank you in advance!