Wyoming Corporation

[Vince]

First new topic for me, so fellow free staters, if I've committed a faux pas by putting my topic in the wrong spot be gentle with me 

I am interested in incorporating.  I used to run my own locksmith business but no longer do so and hope to retire from business completely at any rate.

Incorporation, for me, is a way to add yet another layer of security to my life (in addition to moving to Wyoming).

I have seen online websites where you can create your corporation but before I take any steps I would love to hear from people who have already done this.

I have two basic questions:

1) Is is necessary to have a working business to incorporate or can one do so purely with family members directing personal assets?

2) Has anyone used an online resource such as        http://www.legalzoom.com/    to incorporate?

Thanks, and with fingers crossed that I've done this correctly and in the proper location,

Vince

[lunghd]

Not a lawyer but am a 'small biznezman'... it's not worth the effort unless you have a lot of assets to protect or are in a hi-risk field. A day care... yeah, I'd incorporate in a flash and make sure EVERYTHING was separate from my personal life... but for myself, as a 'handy man / maintenance man'... I had business insurance & that with an umbrella covers anything up to a million. Incorporating makes sense if you have several rental properties... you incorporate them into small groups so that if some bonehead forgets to tie their shoes and falls down a flight of stairs they can only go after the few units in that small corporation and not ALL of your properties. Again, not a lawyer - just an average guy who has more than enough paperwork to worry over as it is.

I looked at the legal zoom site as well... but if I were to actually incorporate... a local attorney has a neck much closer should one need something to wring when things go amiss.

[Vince]

Thank you lunghd, I appreciate that.  I am more concerned with privacy (a valuable asset) than money (well ok, also valuable).

It disturbs me that you can do an online search (if you know where to look) and bring up physical address/residence for anyone who pays a bill in their name.

Maybe we can convince Boston to update his "Bulletproof Privacy" book for the 21st century 

[lunghd]

Yah - I agree, privacy is a whole different ballgame than general liability from a business angle. I answered from the 'business angle' & from when I had checked into it for 'business' reasons.

It was briefly mentioned in You & the Police.