nevada llc corporation

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Category jump:
Business Entities Explained  
Limited-Liability Company Tutorial  
How do Nevada LLC’s Protect Assets?  

First line of defense: Privacy:
As disscussed earlier, privacy is extremely important in asset protection. Lawsuits are rarely initiated against those that do not appear to have assets. To return to Nevada & Douglas County privacy click here.

Judgment must be obtained in a Nevada Court
Once you have transferred your assets into a Nevada Investment Holding LLC, you have effectively converted your assets into "personal property" located in Nevada, since now your primary asset is your "membership interest" in the Nevada LLC. Now your creditor must first obtain a judgment from a Nevada Judge in order to proceed. Courts in one state cannot order the seizure of property in another state. This is a perfectly legal way to frustrate a creditor.

If a judgment is issued against me personally how does the LLC help?
The judgment creditor would like to seize bank accounts, real estate and investments in order to collect the amount which is owed. An asset search in your name will reveal little, since (once the LLC is funded) you no longer legaly "own" these assets. Now your primary asset has become the confidential "membership interest" in The Investment Holding Company LLC. Most collection efforts will end right here.

An aggressive creditor may force a "debtors examination" in court. Here you must reveal your membership interest in the LLC (to avoid committing perjury). Once your assets have been disclosed, the creditor will now understand how difficult and costly any collection action againt the membership interest will be. This involves the creditor obtaining a "Charging Order" against your membership interest. 

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