Asset Protection from Anderson Business Advisors or other firms.

[Account Closed]

I'm doing research on asset protection. Now another post started on here specifically talks about Anderson Business Advisors out of Nevada and another state (can't remember off the top of my head). They are the company that I'm considering going with at this time. One of the attorneys (Clint Coon) has some youtube videos out where he specifically address the various forms of asset protection, anonymity compliant states and charging order protection states. He's also a real estate investor and isn't the only one in his firm that is an investor. I'm not only inquiring about Anderson (so this post is partially redundant), but I'm also inquiring as to if anyone has use any other business firm for asset protection and what they think of any other firms. At this time, (to establish background), I'm an Entrepreneur (not an investor yet) with an LLC out of Arizona (formed back in 2014), but have recently (December 2016) relocated to Missouri. At this time, I plan to keep my Arizona LLC until I run across legitimate information advising otherwise. So I'm looking at either opening an LLC in Missouri or filing for a foreign LLC to run in Missouri from Arizona. Why keep Arizona? Because not only I do plan to do investing there, but also want to be able to counter-sue any illegitimate lawsuits from greedy people in Arizona. I can't do that if I'm not registered to do business in that state. So, for MY investment purposes, I'm looking to open my initial LLC in Missouri (as previously stated) and then to expand my company to Illinois, Tennessee, Kentucky and possibly Arkansas while I consider Georgia as well. Based on information that I've received (yes, from Anderson in one of his public videos not direct advisement from his firm), I'm looking at opening a Nevada or Wyoming LLC and then making my Missouri LLC and member (if that's the right term) of that LLC because of anonymity that Wyoming and Nevada provides. I need a good asset protection company/firm that can handle this. Of course this can be expensive for me ,but I'm thinking I'll get all the information and then decide if this the route I want to go for my company. What I do not want is to be on here months or years from now posting that I lost my company because I didn't have asset protection. I'm interested in protecting any company that I own, but the bigger the company that I build, the more I'm interested in protecting my baby that I'm growing from the ground up. For anyone curious, I searched the BBB and while Anderson does have an A+ rating, there are no reviews or complaints that have been filed with them.

[Jerry W.]

@Account Closed, I see you are bashing me again, my turn. First my speculation and assumptions are based on decades of investing and doing actual liability protection work. You on the other hand have ZERO experience. You talk about how you are going to protect money you have never made. You are the drugstore cowboy carrying around the saddle for three years and telling everyone else how to ride a horse, but you have never ridden a horse. You even are so sure of yourself you insult others who have ridden for decades. You have had an LLC for 3 year, but have never invested yet. Now that is funny. You are talking about how you want to be able to countersue someone who files a frivolous lawsuit against you, so you will register your LLC as a foreign company. Talk about wasted money. The basics of liability protection are pretty much the same. Some states have special laws or court rulings that give the owner or member more protection than others, but the principals of liability are nearly the same. I have read and talked to two folks who have used Anderson and gotten information on some of their prices. I am sure Anderson provides competent service. What I don't like is the secret sauce approach. If you buy our product you will never get sued or they will never get your assets because of our secret and effective plan we will sell you. Their prices are very high compared to other very competent firms I have used., but you can pay whatever you want. The reality is that it is not that complicated to provide good advice for liability protection. However no one can guarantee you will not be sued or not lose your assets. The more hype the more I dislike the pitch. The way you get huge fees is to get folks to believe that what you are selling is not available anywhere else. You plan to invest someday. If you buy shares of stock you will never be liable and so don't need an LLC to protect you. If you buy real estate it is a good idea to have an LLC and maybe more depending on what you do. Now if you own a house 3 states away and have a property manager who takes care of it, and it is in an LLC and someone dies in it from monoxide poisoning, even if they sue you, they will not win. Now if you have an LLC, a land trust, a blind trust, a corporation and another trust all in the chain of title, and you work on the boiler and mess up the vent pipe and folks die from monoxide poisoning you will be sued personally and you will lose, and they find all of your assets easily by a few interrogatories and depositions. You can never be anonymous if you are the person directing the day to day affairs of a business. You can still be personally sued and lose assets if you personally did a bad act. There are some ways to protect some of your assets but you will lose control over them. If you ran your company correctly they will not be able to pierce the veil. If you did not run it right they will be able to pierce. The basic problem here is that you understand so little about the principals of liability you have no idea what rules are at play, and that makes your advice so dangerous. You are free to hire Anderson. If I see you advising folks to buy their service I will expose your advice for what it is ill informed. They probably offer a very good service, in fact it is very likely they do. The price and secret sauce thing worries me. I have represented folks who are worth over $100 million. there is always a team involved. There are lawyers, accountants, advisors, insurance experts, appraisers, etc. Some of them spend more than even Anderson probably charges their average client. The difference is the income and assets justify it. A guy who has carried a saddle for 3 years and doesn't own a horse doesn't justify that kind of expense. The truth is that most folks win when they are hit with frivolous lawsuits. There are some folks who cannot afford an attorney and lose on a technicality. If they are so poor they cannot afford an attorney they don't have many assets to go after. Some get nuisance settlements, but most that win have a very good reason why they win.

There are folks on this site who make more money in one deal than you or I make in 20 years.  They spend money to form companies, and even defend lawsuits when needed.  Folks like Brian Burke, or Jay Henrichs, etc.  None of them do all of these contorted protection plans and they are very savvy investors.  You are free to hire Anderson, but if I see you advising folks I will be quick to point out how little you know and why I think your advice is not very intelligent.  I will also be glad to trade insults as you seem to want to do that.