A lawyer explains three ways to shield assets from lawsuits: creating LLCs to isolate liability, using shell companies that own nothing, and hiding ownership in anonymous trusts. If you want to get sued, skip all three.
If your goal is to make yourself a target for a lawsuit, do not do the following things. Do not create a series of limited liability companies for your assets. A series of LLCs, or limited liability companies, would isolate each of your assets. That would do nothing but limit your overall liability. That is a terrible idea if you want to make yourself a target for a lawsuit. So don't do it. Next, do not create a shell company to be the face of your business. A company that owns nothing but appears to operate everything. This would be terribly confusing to anyone who wanted to sue you. And last, do not create a trust with an anonymous name like Flat Jack, Jack Waffle, Bend Over, or Frankenheimer. Create a trust in your name so you can be easily found. For more tips like this, just hop on board.
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