How to Achieve Asset Anonymity in Nevada

People want asset anonymity for many reasons. People with high profiles often want to keep their assets confidential. Business owners also often want to prevent consumers and others from knowing that they own a certain business. Whatever the reason, there are two main ways to achieve asset anonymity.

These are through trusts and anonymous LLCs. Below, our Nevada estate planning lawyer explains more about these two options.

The Importance of Not Hiding Assets

It is essential to understand that keeping assets anonymous and hiding them are two different things entirely. If you are sued, you will have to answer questions under oath, which may pertain to the property you own. If you do not answer these questions honestly, you may be charged with perjury.

In most cases, perjury is a felony in Nevada. There are, however, legal ways to achieve asset anonymity if you are simply trying to avoid the spotlight and maintain privacy.

Using a Trust to Achieve Asset Anonymity

One of the simplest ways to keep your assets confidential is to create a trust. The majority of trusts are not registered with the state of Nevada so, you can simply title property in a trust and no one can tie the entity back to you. It is important not to name yourself as the trustee, as this will cause your name to appear on the title of the property.

To ensure that your name is not on the property, you can enter into a ‘nominee’ agreement. This appoints another person as the trustee but you still retain the power to remove them at any time. With real estate you can record a deed in the name of the trust and omit the names of the trustee.

Generally speaking, investment account records are confidential so, keeping the trustees’ names confidential is not nearly as critical as it is with real estate. When trying to keep a trust anonymous in Nevada, many people choose to form a Nevada LLC and then appoint the LLC as the trustee.

How to Form an Anonymous LLC in Nevada

To form an anonymous LLC in Nevada, the following steps are required:

File Articles of Organization: One of the first steps is to file the Articles of Organization with the Nevada Secretary of State. These legal documents formally establish an LLC and outline key information such as the company’s name, address, purpose, and registered agent.
Designate registered agent: The registered agent will receive official correspondence, so it is important to designate someone for this role.
Do not disclose personal information: When forming an anonymous LLC, you shouldn’t list any of your personal information. Use a virtual address, or the address of your attorney’s office, and do not list the names or addresses of the LLC members.

How to Create a Trust in Nevada

Forming an anonymous LLC is just one step in the process. You should also establish a trust and name the LLC as the trustee. The following steps are required to create a trust in Nevada:

Choose the type of trust: You will have to determine whether you want to create an individual or shared trust.
Define the terms of the trust: The terms of the trust include the property you will place into it, who the beneficiaries will be, and who you will designate as the successor trustee. When trying to keep the assets in the trust confidential, you will name the LLC as the trustee.
Draft the trust document: When drafting the trust document, you must ensure it outlines the terms and conditions of the trust.

When creating a trust, it is critical to work with a professional. An estate planning lawyer will know how to execute a trust properly so it provides the protection you need. A lawyer will also know how to keep the property within the trust confidential so it cannot be traced back to you.

Our Nevada Estate Planning Attorney Can Help with Asset Anonymity

Working with a Nevada estate planning lawyer provides an additional layer of anonymity. At Boyer Law Group, our Nevada estate planning lawyer can handle situations, such as lawsuits, on your behalf quietly and efficiently. We can also help you form an LLC and create an anonymous trust so you can ensure that your property is protected by state law.