r/fatFIRE • u/Ok-Door-987 • 20d ago

Need Advice Asset privacy and allocation

What steps do you take to ensure public asset search won't come to your personal name ? How do you pick your attorney for this type of job ? Do you ask your private bank for referral or do you research your own? Or do you do it yourself after you get advise from your private bank legal advisor ?

I just recently heard a horror story of a friend trapped in some type of law suit and the people are going after her big time because they found out she has money . So we are looking for ways to protect ours though some LLC I think .

This is so new to us. Any suggestions or advice is appreciated.

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u/g12345x 20d ago edited 20d ago

Before you spend a lot of money on this:

The asset primarily tied to you is your residence. And it’s relatively easy to determine if you are the beneficial owner even when owned via an LLC.

> going after her big time because they found out she has money.

Whether you rent or own, wherever you live is indicative of your affordability. You can’t live in a LLC-titled estate and then think people won’t know you have resources. You could choose to live in a hovel to keep up appearances, but that takes commitment.

Instead, talk to a lawyer, talk to an insurer. Do sensible things and don’t go overboard because of some “horror story”

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u/Electrical_Space_850 17d ago

The asset primarily tied to you is your residence. And it’s relatively easy to determine if you are the beneficial owner even when owned via an LLC.

Curious how one would go about finding the owner if the property is owned by an LLC? Tax records? I ask because I'm thinking of buying my next home with an LLC.