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Foreign Trust Registration

Some people have found it beneficial to put their cars in a trust or in a Limited Liability Company (LLC), preferably one that is formed in another state. As the united States of America was originally set up, each state was like a separate country, therefore, "foreign" registration means a state other than the one in which you live. See the Roadway Report for a better understanding of this strategy. The first step in either case, is to secure an address in your state of choice. Just be aware that some states want to actually see your car for the initial registration (renewals are not a problem) or they may want a VIN verification. Still other states (like here in Michigan) will accept a photo of the VIN or a rubbing if the number is raised and in a place where you can lay a paper over it and rub it with the side of a pencil. Wisconsin is one of the few states that does NOT require any verification at all and will accept initial registrations by mail. As you can see, you may need to do a bit of research. 

Trusts need to be structured properly, but LLCs can be set up by anyone. You can go to the state's website (generally at www.state.[your state's 2-letter code].us) and look for the corporations section, generally under the Department of State. Then do a search for LLC (you may have to spell it out) forms. If you are at a total loss in handling such paperwork, we can access the forms for you (provided your state of choice has them on their website -- most do), and handle the filing. Since states have varying requirements, the fee would be based on how complex it is.   

Given a choice between the 2 methods, we prefer the trust since it can be moved to whatever state you like and it is private. It does not have to be registered with the state but ultimately, the choice depends upon your particular situation and needs.

To Set up a Trust for your Automobile Contact Durand at: 248-247-4493

 

 

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