Assets Protection through Wyoming LLC HELP?

[Joseph Williams]

Does anyone know of a how to guide or blue print for setting up a Wyoming LLC with a registered agent? Corporation to manage the LLC etc? Talked to an attorney today and he wanted 14k for 4 LLC's and 2 Trust. Thanks Joe

[Jerry W.]

Hey @Tom Chen, what I noticed was that Joseph up above was trying to set up 4 LLCs and 2 Trusts. It would take a massive amount of real estate to justify that complex of a deal. You can create an LLC in Wyoming for $100 filing fee and 20 minutes on your computer on the secretary of state's web site. You can create an LLC and make a trust the owner, unless it is a Sub S. I cannot imagine creating 2 trusts and 4 LLCs for less than several million in real estate, and still would probably not go that far. The amount of income you would have to generate to justify all the labor and money of separate minutes, separate meetings, separate bank accounts, separate tax returns, separate books, wow. You could easily spend $30K a year in extra expenses to keep all of those entities up to speed. It would be worth it for a million in profit a year, but not for $100K in profit. It takes a lot of rentals to generate a million in profits.