All Forum Posts by: Isaac A.

@Jerry W. Yes the privacy LLC is a guru thing. Running your business anonymous.The idea is to control your business and run it as a business not as a Technician. Sorry am using this word but Technicians have their name on everything.Technicians want to do the plumbing themselves, the property management themselves and their names all their LLC. In this REI business anyone could be sued anyways but to what extent and how do you make preparations for this....No matter the preparation..

@Jerry W.I really like the scenarios that you have shared. I think no matter how structured an LLC is, setup. It still could be pierced, hence someone Could be sued at some point. The question is when and to what extent. My recommendation for anyone looking into LLC formation is to educate yourself, then seek an attorney and a tax and wealth strategists or CPA where needed.

@Rhett P.. My advice is contact the secretary of state where you intend to form the LLC. Ask whatever questions you may have concerning business formations- some questions might be stupid but it makes sense at some point. When you are done consult an Attorney and then decide afterwards.

@Bill Gulley. I am not sure where I discredited @Jerry W advice, please let me know? 

...You do not need ohms law to change your light bulb, neither do you need ohms law to turn on a switch. In fact you don't have to know ohms law to develop an iPhone!...

My advice to anyone in the REI route, starting out and looking into LLC formation or any related task in REI is this..You do not need a lawyer to do everything for you. Its up to the individual to read and research and to assess his/her own situation and to take into consideration the 5W's in making such decisions.  @Ryland Taniguchi recommended books from Mark Kohler, Dianne Kennedy, Garrett Sutton and Tom Wheelwright, which is a good start. - Read it educate yourself and understand every aspect and how to apply it to your situation.

Personally, I think this system we live in has taught as we need someone to do everything. I personally have a lawyer, but whenever I need their service, I  perform a detailed analysis as to if is feasible or not. Bill gate did not have to complete undergraduate to form Microsoft. As an electrical_software engineer myself, you do not always  need folks like me if you can take care of certain things yourself. However, I will recommend anyone to seek the services of professionals.

@Dottie Bee If is a single member LLC, you might not need to register in the state you are doing business in; some states do allow for such benefits. There is a way of shielding yourself from the law" piercing the veil and liability"

1. Form a privacy LLC - Google it

2. Open a foreign account

3. Buy LLC insurance

4. Research- lots of ways  to prevent yourself from being sued. Do not trust all that lawyers say.

@Dottie Bee.

Yes Delaware is the best so far. Simply because Delaware do not publish the owners on their public database.

Is possible you could set up your LLC without an attorney. Contact the secretary of state for Wyoming, Nevada, Delaware. To me Delaware is the best in terms of asset protection if you can afford the fees.

Also read this article on this link to understand which state should you form an LLC: http://www.myllc.com/which-state-to-form-llc.aspx