TRUST MANAGER PRINCIPLE: AVOID A BUSINESS PRIVACY INVASION
By Grant Hall
The Trust Manager Principle is a business privacy principle designed to conceal the true controller of a Nevada Limited Liability Company. As far as I know, this principle is an original term and I and others have used it for years. However, I only named this principle and cannot take full credit for it. That credit goes to a very fine asset protection and business attorney who provided expert counsel during my research as I developed high-level business and personal privacy principles and concepts.
A Nevada LLC must be registered with the Secretary of State in order to be legitimate. The Articles of Organization of the LLC is a public record document. The name of a Member or Manager of the company is a registration requirement and the company must have a resident agent that accepts service on behalf of the business.
Counsel has advised we disclose the manager of the LLC rather than a member.
An Irrevocable Trust may be formed specifically for the purpose of being the “manager” of the Nevada LLC. A trust formed in Nevada has no registration requirements anywhere.
The trustee of the trust is responsible for making decisions on behalf of the trust. The trustee’s name remains private as the true decision maker of the Nevada LLC as the trust is the “manager” of record for the business.
The trust manager principle provides for the privacy of the management of the LLC while allowing the company to fulfill all registration company disclosure requirements.
Additional information on the trust manager principle is found in Privacy Crisis: Identity Theft Prevention Plan and Guide to Anonymous Living by Grant Hall.
Hall, Grant, Privacy Crisis: Identity Theft Prevention Plan and Guide to Anonymous Living, James Clark King, LLC, 2006, www.PrivacyCrisis.com
Copyright: James Clark King, LLC, February 26, 2009