Nevada | Business Law
Legal Question
forming a private Nevada C-corp for asset protection
I've read quite a bit about asset protection (from lawsuits, ex-spouses, etc.) by forming private Nevada C-corporation using a third party nominee. Is this legal? Is this the best way to protect your assets? Is this really how OJ still lives a millionaire lifestyle and never paid the Goldman's a cent?
I've also read that a Nevada LLC doesn't have to have the owners recorded if they aren't the ones actually managing the company. This seems like a safer bet, if it's true...but then with an LLC, isn't the tax liability on the owners SSN rather than a C-corp, which uses the corp's EIN.
It's all very confusing. I don't feel comfortable basically signing over everything I own to a stranger, but they say all ties between your SSN and the corp must not appear.
They said that attorneys determine if they'll take a case, often, based on the assets showing for the potential defendant, and that by having very few assets, it takes down the chances of being sued to begin with.
They also talk about doing an IBC in the Bahamas with a brokerage account in the Cayman Islands.
How can I protect my assets?
I'm definitely NOT looking to avoid paying taxes, so please don't think that's my angle.
Thank you so much for this service!!
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