Thursday, October 14, 2010

How to protect your privacy when you name your corporation, your LLC, or your living trust


Rosie EnrĂ­quez has formed thousands of corporations and limited liability companies over the years—almost always with privacy as the principal goal. I am indebted to her for the following tips, using “James and Jill Jones, from Atlanta, Georgia” as an example.

To name a trust:

WRONG: Jones Family Trust, JJJ Trust, J&J Trust
RIGHT: Southern Belle Trust, Atlanta Members Trust, Three-R Trust

Reasoning: For privacy, any name that gives no clue as to the Jones’ ownership is best

James decides to incorporate his small outboard motor-repair business:

WRONG: Jones Outboard Motors, Inc. JJ Motors, Inc. Acme Outboards, Inc.
RIGHT: Bluebell Bay, Inc. Somerset Group, Inc. NW Georgia Enterprises.

Reasoning: Not only should Jim’s name or initials not appear, the name should not limit his business to motors of any kind. What if he later adds non-related products? It’s better to use a generic name that will cover anything.

Jill needs to obtain a New Mexico LLC with which to title a Highlander that she plans to buy with cash, from a private party. In this case, there is no need to make a special order with some name of her choosing. Who cares what the name is? Any name will do!

To see Rosie’s current list of shelf LLC names , email her at senorita [at] canaryislandspress.com.

Saturday, October 2, 2010

"SALT SHAKER HIDDEN SAFE:” How is it used?

To quote from the description of “Salt Shaker Hidden Safe” on Amazon.com:

This ordinary looking salt shaker is actually a hidden safe that can hide your small valuables. Burglars spend as little time as possible in your home so that they can minimize their chances of getting caught. When a burglar is inside your home searching for all your valuables, you can be sure they are not going to take some salt as a prized possession.

This salt shaker hidden safe is made from an actual salt shaker and even has salt that you can see through the transparent glass. The salt does not actually come out though. The top of this hidden safe unscrews revealing the secret compartment where you can put valuables or other items that you wish to hide. The salt shaker safe's hidden compartment is an excellent hiding spot that no one would think is anything other than a regular salt shaker."

Three suggested uses for the “salt shaker hidden safe.”

1. It is the perfect gift for a friend “who has everything.” Be sure to attach an information tag to the handle, so it’s not just put away on a shelf without first being opened. Include some money inside the salt shaker hidden safe. Even $30 will look good if it’s in 15 new, crisp $2.00 bills. At the other end of the spectrum, you might include a dozen 500-euro bills. Or uncut diamonds …

2. Use it to keep emergency cash hidden from burglars (or perhaps your in-laws). As shown in the picture, $2,000 in $100 bills fits easily into the salt shaker hidden safe.

3. When away on a trip, I assume you do leave a key to your house or apartment with a trusted friend. What if the friend calls you to report some problem with the water or heating, or there was a break in and a new door or window is now urgently needed? Tell your friend to look on the top right shelf of the kitchen cupboard, where you’ve “salted away” some cash for just such an emergency. That can be used to pay for the repairs.

For additional tips on hiding money, as well as securing your home, see the e-book Invisible Money.