Brent Carlson introduces effective ways to protect assets, focusing on Series LLCs and Land Trusts. He explains that Series LLCs, allowed in states like Nevada and Wyoming, enable multiple properties to be held under a single master LLC while keeping them legally separate. "Liability stops at the individual property—it doesn’t extend to your other assets," he says.
In California, where Series LLCs aren’t recognized, Brent recommends Land Trusts. These revocable trusts hold individual properties, separating assets and avoiding transfer taxes or due-on-sale clauses. "Using a land trust for each property with your LLC as the beneficiary ensures better protection without California’s franchise taxes," he advises.
Brent also highlights the value of Wyoming Holding Companies for asset protection. By having a Wyoming LLC own the membership certificates of a California LLC, personal liabilities are further isolated. "This isolates liabilities and keeps your personal wealth untouchable," Brent notes.
He concludes by encouraging attendees to explore these strategies, emphasizing their value in safeguarding investments and reducing risk effectively.