Here's a question I get all the time, Mauricio.
How do I get my personal name off the public records?
How do I get privacy?
Now, there are a lot of companies out there
that have what's called the nominees service.
That helps you gain
anonymity by paying a fee and hiring somebody to get the nominees service.
And those nominees services have their place.
But in this video, I wanted to go through a really simple way
to gain anonymity without having to go hire an expert.
And something you can do yourself.
But before I show you
the simple strategy, it's important to understand why privacy is so important.
You see plaintiffs lawyers who are going to actually bring a case against you
typically get paid
on what's called a contingency basis, which means they don't get paid
unless they win the case and actually collect on the judgment.
So if you put yourself in the shoes of a plaintiff's attorney,
they're not going to want to go spend time suing someone in spending the next two
or three years of their life in litigation and finally getting a judgment
if they don't know that they're ultimately going to get paid.
Once they get that judgment, see, there's a big difference
between getting a judgment from someone and actually collecting on that.
And a plaintiffs lawyer doesn't get paid unless he or
she is able to collect on that particular judgment.
So the first thing a plaintiffs lawyers will do, even before it considers
taking a case, is trying to find out whether the defendant has assets available
or an insurance policy available to pay the judgment in the event they win.
So even if they have the strongest case in the world, even though they're 100%
sure they're going to win the case, if they don't know or they don't
have confidence that they're going to actually be able to collect
when that time comes, they're much more reluctant
to take that case on a contingency basis because, again,
they don't want to spend the next two or three years of their life
getting a judgment and then not being able to collect on that judgment.
I actually worked for a really well-known plaintiff's lawyer back in the nineties
up in the Bay Area, and the first thing we always did
was to find out whether the potential defendant had any assets or what insurance
they had in order to cover the case in case we won.
But you want to make it as difficult as possible
for the plaintiffs or actually find anything in that acid search.
You want to appear as if you do not have anything that's worth
pursuing from the plaintiff's attorney standpoint.
So what's the simple strategy I'm referring to?
Well, let's take a look.
Let's say you have a piece of property or business in a particular state.
You're going to create an LLC in the state where the property is located
or where are you doing business?
So if you're in the state of Texas, you're going to create a Texas LLC, or
if you're in the state of California like I am, you're going to create a California
LLC that you are going to own or you and your partners are going to own.
Now, in most states, when you file the LLC are going to require
that you show who the members are or who the managers are.
Most states require that you only put down who the managers are.
So we want to make sure that when we put down the managers,
when we set up our LLC, that our name is nowhere to be found.
And the easiest way to do that is by creating
a management company.
That is a Wyoming LLC.
When you create a Wyoming LLC, you don't have to put down who the owners are.
You don't have to put down who the managers are.
You have to put down any information other than who the registered agent is.
Right.
But when you come in, when it comes to registering, that
you want to make sure you're not acting
as your own registration, you want to hire a professional.
Third party registered agent.
So their address and their information is going to be on the public records badge.
Yours is not.
The beauty about Wyoming is that even the state of Wyoming
doesn't know who the owners are or who the managers are.
It's never required when you initially file it,
and it's never required when you file your annual reports.
So even the state of Wyoming, meaning if you went to the state
of Wyoming in person and demanded to see every single document in the file,
they would not know who you are as the owner or the manager.
Now, there's a way for them to get that because the registered agent
has to keep that record.
So if they need to find you for subpoena purposes, for
if the state needs to get a hold of you, they can do that.
But when plaintiffs lawyer is doing their assessment and they find
that the manager of this LLC is this Wyoming LLC, it's a dead
end for the plaintiff's lawyer.
And that's the key.
So there's really no reason
to get a nominee service or do anything that's more complicated
than simply setting up a Wyoming LLC that's going to be the manager of this LLC
and then of course, you are going to be the manager over here
of the Wyoming LLC.
But that's going to be nowhere to be found in the public record.
So save your money. No need to get a nominee.
Just set up a Wyoming LLC to be the manager of your LLC.