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Updated over 4 years ago,
Asset protection Structure with less anonymity
Trying to incorporate with a hybrid structure that will provide asset protection, but be less anonymous for various reasons.
The structure consist of a single member WY holding LLC that will 100% own a local LLC. I will then be the Manager of the local entity. One of the main reason is that it will make is easier for me in terms of Financing by being the Manager of the local LLC, at the same time it will give me the asset protection.
The question is: with the above structure, if both entity have each a separate bank account, would it best to move money between me and Holding, then between the Holding and the local LLC and vs versa, or can I as the manager of local LLC move money in and out of it ?
What would be the best practice for this structure?
Thanks in advance for your inputs.