Home Package Why us Specials Contact
logo

Live phone support today
Order Now
Asset Protection Using Multiple Nevada Entities Order Now
1. Why you need asset protection

Simply put, a court order can freeze all your assets. You won't be even able to touch your bank accounts. Attorneys will tell you that It doesn't take much to be in such a situation. This is why a properly structured asset protection plan is essential.

Many of our clients use multiple Nevada entities for asset protection. We have seen anyone from real estate investors to independent contractors utilize this strategy.

2. Why use multiple entities

Attorneys will tell you that an LLC offers great protection, simply because of  the fact that the LLC laws doesn't allow a lawsuit to be filed against a member of the LLC for the liabilities of the LLC. Whereas the main officers of a corporation are routinely named as defendants in a lawsuit filed against the corporation. Therefore, from asset protection point of view an LLC is probably a better entity than a corporation. See why LLCs maybe better.

However, a creditor can obtain a judgment from a court against a member of an LLC and proceed with what is called a 'Charging Order' remedy.  A charging order remedy will allow a creditor to collect any cash distribution made to the member by the LLC.  As shown in the case at the U.S. Bankruptcy Court, In re Albright, No. 01-11367 (Colorado. Bankruptcy. April 4, 2003): a single member LLC is not protected against a Charging Order. In layman's language if the LLC has a manager, the manager can withhold any distribution to the member in question. However, it is important that this is specifically mentioned in the Operating Agreement of the LLC. But this case demonstrated that a single member LLC doesn't offer you the protection you deserve. This is why attorneys will tell you that if you do not have multiple members in your LLC, you are not protected. This is the reason you need multiple members in an LLC. These members can be individuals or entities. 

3. The strategy that you can consider

A. With 2 LLCs:

Many books and articles have been written by asset protection experts and attorneys; and the following is a strategy that many agree on. Anyone can consider using this strategy. Under this strategy, we set up the Manager LLC first. Next, we form another LLC to be the main LLC. Therefore, the main LLC should work as the main business entity and the Manager LLC should act as the manager. You become the second member of the main LLC. Or we can provide privacy so that your name is not published in the public List of Members/ Managers of the main LLC. At the same time you will be members of the Manager LLC. As far as Taxes, everything will flow to you, meaning you will pay for taxes on your own 1040. Do confirm this with your tax advisor..

There can be additional entities that can be added to the list of members of the main LLC in consultation with an attorney at a later date. An attorney may advise you  to setup a Trust to be a member.  Or, you can add another entity such as a Family Limited Partnership or a family member as members. 

Note that if you have multiple lines of business, attorneys usually advise to put each business in a different LLC. This is because if you do not separate your businesses, then a creditor can utilize what is known as 'Attachments and Liens' to include everything in order to collect the debt.

B. With 1 LLC and 1 Corporation:

It works the same way as above, but in this case, the manager entity for the main LLC is a C-Corporation instead of another LLC. This is mainly done for income tax savings. Because in case of LLCs all income and losses flow to the members. But in case of a C-Corporation the corporation pays tax for the corporation and it doesn't flow to the officers like in an LLC. Also corporate tax rate maybe lower tax than individuals. Therefore, if the main LLC has 2 members: 1 the C-Corporation and the other yourself; you may opt for the corporation to pay for the bulk of the income if it is beneficial to you. So if you are concerned about tax savings you may opt for this option.

4. Get started

Knowing the nightmarish scenario that can happen to you, you should put the Initial Asset Protection plan in place immediately. Note that a judge can throw out a structure if it is established after the date of initial act leading to a legal action against you. Therefore, you should not wait for something bad to happen. We offer the Initial Asset Protection Plan as the groundwork for more comprehensive and on going plan at a later that in consultation with a licensed asset protection professional.

This package comes with all of the other features of our Resident Agent service and includes the filing fees for each. It also includes a Nevada address, mail receiving and forwarding service for free and a Nevada phone number, if needed. You only pay for actual usage. Most importantly, it includes our free ongoing support.

5. Pricing details

You can choose to set up the structure with the 2 entities same day with privacy for $899 during this promotion only. Or we can set it up for $699 same day without privacy during this promotion. This is usually how much it costs to set up ONE entity whereas you are getting TWO!! Therefore:

Special Promotion: 2 Entities Formation total cost:

1) $699 (Same Day Formation without privacy)
2) $999 (Same Day Formation with privacy)

Includes:
- Nevada State filing fee for 2 entities
- Complete Registered Agent Service for 12 months
- Complete Nevada Address Package including Nevada Address and Mail Forwarding. Mail forwarding cost is extra.

Note that after formation, you will need to pay the first year's state annual fees for each entity. This fee is currently $325 for each entity and the first year's fee is to be paid before the end of the month following the month of formation of each entity. This fee includes state business license fee of $200 for each entity. Note that all businesses registered with Nevada Secretary of State are required to obtain a Nevada State Business License (except if your business is registered with the IRS as non-profit or registered with the Nevada Film Office as a movie production business or registered with Nevada Division of Insurance.

Each subsequent year, your fee is $449 for each entity (i.e. $325 payable to the state + $75 for Nevada Registered Agent Services + $49 for Nevada Address). Add $49 if you will need us to do the filing for you (we will prepare and email you the state forms for you to sign and send back to us to file with state of NV).  See what else is included in our Registered Agent service.

Also, we recommend adding privacy to the structure so that your name/ address are not published on the State public website. You will have the option to choose privacy service while ordering

It is important to draft the Operating Agreement/ ByLaws correctly and update it as needed. We will provide you with a customizable Operating Agreement/ ByLaws for each entity. 

NOTE THAT IF YOU NEED TO FORM 2 INDEPENDENT NEVADA ENTITIES. (Unlike one being the manager of the other), please call us at 702-395-2255.

Order Now
 
1. Same-Day formation with full package and Las Vegas address: $399
No need to pick and choose.
2. Asset Protection with 2 Entities for $699
2 entities formation for asset protection strategy for just $699
3. Free Las Vegas Address
All orders today receive own Las Vegas Address for privacy (Not a C/O or shared address).
4. Buy 5 Entities Formation for $1995 , Today only $1499!
Advance purchase 5 Nevada entities formation and save over $500!
 
What We Do FAQ Order Now Contact Us
We offer a full package to register a Nevada Corporation or LLC and do the filings for you with State of Nevada. We provide cheap Registered Agent service.
Please click on the link below to see the Frequently Asked Questions Click here and choose an option to order registration of a Nevada Corporation or LLC.
Nevada LLC Services
Order Now