{"id":10361,"date":"2021-02-10T08:04:23","date_gmt":"2021-02-10T13:04:23","guid":{"rendered":"http:\/\/privacyfight.io\/?p=10361"},"modified":"2023-06-23T15:30:12","modified_gmt":"2023-06-23T19:30:12","slug":"u10-acct-access-taking-llc-profits-the-pma","status":"publish","type":"post","link":"https:\/\/privacyfight.io\/u10-acct-access-taking-llc-profits-the-pma\/","title":{"rendered":"U10 \u2013 Acct Access, Taking LLC Profits &#038; the PMA"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"10361\" class=\"elementor elementor-10361\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6ab7dec elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6ab7dec\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1a5c8bc\" data-id=\"1a5c8bc\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-23293aa elementor-widget elementor-widget-text-editor\" data-id=\"23293aa\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"vidseo_wrapper\" style=\"width: 100%;\">\r\n\r\n    \r\n    \r\n        <div class=\"vidseo_vimeo\">\r\n\r\n            <iframe title=\"vimeo-player\" src=\"https:\/\/player.vimeo.com\/video\/716093735\/?\" width=\"100%\" frameborder=\"0\" allowfullscreen><\/iframe>\r\n\r\n        <\/div>\r\n\r\n    \r\n    \r\n    <div class=\"vidseo_collapse\" style=\"\">\r\n        <div class=\"vidseo_btn\" style=\"\">\r\n            U10 \u2013 Acct Access, Taking LLC Profits &#038; the PMA\r\n0:02\r\nHi, everybody, this is John Jay, and today, I wanted to cover briefly, um, how to manage access to your account. And I\u2019m going to be specific here. I\u2019m talking about the limited liability company that we normally use, and third party accou&#8230;        <\/div>\r\n        <div class=\"vidseo_collapse_content\" style=\"\">\r\n            <p>U10 \u2013 Acct Access, Taking LLC Profits &#038; the PMA<br \/>\n0:02<br \/>\nHi, everybody, this is John Jay, and today, I wanted to cover briefly, um, how to manage access to your account. And I\u2019m going to be specific here. I\u2019m talking about the limited liability company that we normally use, and third party accounts, like bank accounts, exchanges.<br \/>\n0:21<br \/>\nThere are other considerations when you\u2019re dealing with property rights like real estate, that are outside of a third party exchange, that you have control over, but they appear on the public records.<br \/>\n0:31<br \/>\nBut let\u2019s start with the basics here.<br \/>\n0:34<br \/>\nMany people want to add a spouse to a limited liability company.<br \/>\n0:39<br \/>\nI like to write these so that there\u2019s only one signer for the group, or for whoever would have an interest because really, the access to the account doesn\u2019t need to be expressed only in whoever\u2019s name appears on the articles, and you do lose some privacy.<br \/>\n0:58<br \/>\nUm, it\u2019s not a problem, but it\u2019s, it\u2019s not necessary.<br \/>\n1:04<br \/>\nSo Let\u2019s just look at a simple Step here.<br \/>\n1:08<br \/>\nSo the first thing is, you can use the account without change, for example, uh, Let\u2019s say my wife is always using the account and let\u2019s say it\u2019s a corporate account, It\u2019s for even for my business, maybe.<br \/>\n1:23<br \/>\nI have a couple of partners and My wife has no interest in the company, but she\u2019s signing on it. Nobody cares because there\u2019s no risk there.<br \/>\n1:33<br \/>\nIn some cases, where it needs to be a stranger, that person can be bonded, We don\u2019t need to get into that subject, but basically, if she no longer could use the account, let\u2019s say she disappeared, and I couldn\u2019t find her if she was lost at sea or something, then I could simply go to a file, which I know where to go, and I could obtain her account credentials. And I can login to that account on the internet, because mostly that\u2019s how she\u2019s going to use it. Anyways, I would have access to the debit card, I would know the pin, or that information, Maybe I don\u2019t know it.<br \/>\n2:05<br \/>\nIn some cases, you don\u2019t want to give out the information until it\u2019s needed. But either way, I can go get the access. We just have to know ahead of time. How are we going to set that up.<br \/>\n2:15<br \/>\nIt\u2019s not complicated.<br \/>\n2:17<br \/>\nInstead of, instead of my wife sitting here at the keyboard, typing in information to access the account, it would be me.<br \/>\n2:24<br \/>\nAnd instead of her using the debit card, whether or not her names on there, it doesn\u2019t matter. It could be me or anyone else who\u2019s given permission access to that account.<br \/>\n2:34<br \/>\nI could send a Family member to the store to go use the debit card. OK, I can just hand it to him in there, and there you go.<br \/>\n2:42<br \/>\nPutting a name of someone who\u2019s going to use the account or the asset on the records is not necessary.<br \/>\n2:51<br \/>\nAnd it creates a situation where you\u2019re going to rely on attorneys or the court.<br \/>\n2:55<br \/>\ntwo, agree that a person Hazzard maybe disagree that a person doesn\u2019t have access and it gets expensive.<br \/>\n3:02<br \/>\nAnd so that\u2019s why I have a habit of not adding other people.<br \/>\n3:05<br \/>\nBecause if you have a tendency to rely on the court system and attorneys to resolve disputes, then you\u2019re just going to usually lose out.<br \/>\n3:13<br \/>\nAnd I think if you just have a couple of different habits, you can do quite well.<br \/>\n3:17<br \/>\nI\u2019ve never had a problem with having access to other, you know, to access to property, real estate, banking, third party vault services. I\u2019ve never had a problem. Sure, you could have problems.<br \/>\n3:30<br \/>\nBut let\u2019s go over another, Another method here.<br \/>\n3:33<br \/>\nObviously online access, like I just explained, you\u2019re not going if you\u2019re not a signer on the account let\u2019s say it\u2019s a bank account if you\u2019re not a signer, you\u2019re not going to be able to go in the bank and wire money out of that account anywhere.<br \/>\n3:46<br \/>\nOf course, obviously, you can be added as an authorized user.<br \/>\n3:50<br \/>\nBut just the same the way things are today, you could login to the account over the Internet.<br \/>\n3:55<br \/>\nAnd if you have the cry and the credentials you could issue of wire transfer.<br \/>\n4:00<br \/>\nOK, I did have a scenario recently.<br \/>\n4:05<br \/>\nWhere I actually had, for a long time ago, a lifetime ago, maybe 15 years ago I had my mother-in-law sign on, one of my company accounts. She was using it, or something, and then we started using it. How we do things to and we\u2019re sending money out of it, wiring small amounts, it wasn\u2019t a lot of money.<br \/>\n4:24<br \/>\nBut on the third transfer, the bank froze the transfer and wanted us to come in and explain that it was intended to be wired. So, we had had to call it my mother-in-law, and, you know, we made a day of it, right? She came over to visit, and we took our lunch. And so, she just walked in the bank and said, Yeah, I want to do that thing, we told her what to say.<br \/>\n4:44<br \/>\nSo, if that doesn\u2019t appeal to you, then you\u2019re not gonna like some of these methods, but I haven\u2019t had a problem. If it\u2019s partners, I\u2019m not going to involve my family and things like that. It depends on my partners, too. So you can work that out.<br \/>\n5:00<br \/>\nObviously, you know, whoever has the debit card. And as long as he doesn\u2019t have to show his ID, then you\u2019re in good shape. You can also get a debit card on an account. You can get two cards, I believe.<br \/>\n5:10<br \/>\nSometimes the bank will issue a card with someone else\u2019s name on there if you ask them even if that person is not a signer. So just ask.<br \/>\n5:20<br \/>\nSame, another, another method is to use a check Literally if, let\u2019s say, my business partner had exclusive rights to an account that I needed to get access to, and I didn\u2019t normally have access to it for whatever reason, it was normal for us to do it that way. And he just disappeared, or whatever happened to him. And I don\u2019t expect him to come back anytime soon. What I would simply do is I would, of course have to make this arrangement in advance. I would have a check.<br \/>\n5:49<br \/>\nIf I don\u2019t have a paper check, I could probably issue a check on an online application, But let\u2019s say I needed a paper check.<br \/>\n5:57<br \/>\nLet\u2019s say I didn\u2019t have one. I can actually go print some checks up.<br \/>\n6:00<br \/>\nI can go issue a check, I can go African, never printer, make one for me, and get a VISTA print, and print up checks.<br \/>\n6:06<br \/>\nBut to make it convenient, we would have a set of checks available in that event, So I would just get the check and write out what I needed if I just would simply just move the money to another account. Maybe I was over there at a separate account, for some reason.<br \/>\n6:21<br \/>\nAnd then I would just write a check to our main company account, move it, move the funds over, OK, now you\u2019re probably thinking to yourself, yeah, but what if you\u2019re not a signer, OK?<br \/>\n6:31<br \/>\nAgain, if I\u2019ve already had an arrangement with my partner to do this, I could literally sign his name or sign anything. In fact, I could probably sign my name, and the bank would authorize the transaction. It wouldn\u2019t be a problem, OK? It\u2019s not a forgery, because I had permission to do that.<br \/>\n6:47<br \/>\nAlright, so I can move the money just by simply writing a check. You can do that with your family members. You can do that with the business partner. I, again, I like to avoid situations where I\u2019m not gonna involve an attorney or third party or a court or resolving disputes through third parties. I want to handle things myself.<br \/>\n7:05<br \/>\nAnother little more sophisticated thing you can do is have a signature stamp on my signature stamps.<br \/>\n7:12<br \/>\nThe more important thing is that the person is signing it.<br \/>\n7:15<br \/>\nWho\u2019s allowing you to use his signature stamp is going to trust you, so it have to be that type of trust relationship.<br \/>\n7:22<br \/>\nI think anyways, just the same, I like to have a hand-written agreement and I have specific terms that I like to use.<br \/>\n7:29<br \/>\nBut, I have a hand-written agreement that\u2019s written in blue ink on a piece of paper. It\u2019s kept in a vault that explains the purpose and the authority for which that stamp can be used. The reason why I do that, is, if someone stole that stamp and used it for something that wasn\u2019t authorized.<br \/>\n7:44<br \/>\nThe people that had the stamp, the signer, and whoever else whose custody it was in, wouldn\u2019t be held liable for any wrongdoing that a thief had committed using that signature stamp.<br \/>\n7:57<br \/>\nBecause the intended purposes that had already been written down, and the document is self authenticating because it\u2019s in the seiners handwriting and it\u2019s in blue ink, its original, I can be authenticated, it\u2019s self authenticating, so I have a method of doing that. I rarely do that. If you guys want to talk about that, I\u2019ll show you how to do, it\u2019s very simple.<br \/>\n8:14<br \/>\nIt take you maybe a week to set that up because you gotta order the signature stamp.<br \/>\n8:19<br \/>\nSame thing with property titles. I mean, you can have those signed ahead of time. You can have a quitclaim deed or a car transfer title. You can have that executed and kept in a vault somewhere.<br \/>\n8:30<br \/>\nIn fact, you can even keep it in a trust relationship with a third party where under certain conditions, the document will be executed and filed or recorded and the transaction that conveyance will take place. That\u2019s a little more complicated.<br \/>\n8:43<br \/>\nBut there are many ways of doing this.<br \/>\n8:44<br \/>\nNow, um, if you really just want to add a signer to the account, I know I\u2019m telling you all this stuff, and you\u2019re still going to say, I still want to add a sign or fine, go to your banking abstract documents. Now, there are other ways of doing this.<br \/>\n8:58<br \/>\nI\u2019m just saying from my example how I set up clients, These are the tools I give you. OK?<br \/>\n9:03<br \/>\nSo for the banking abstract document, you\u2019re going to find, in the eight pages, I believe we have now, when it\u2019s called the banking resolution, this is a resolution of the people and the, and the company, and the LLC that have the authority to designate who\u2019s going to sign for the company.<br \/>\n9:19<br \/>\nThat means signing a car title, buying and selling a vehicle vessel, opening a bank account, engaging in banking transactions, right? So, let\u2019s say a partner in a business is a signer for the company. There\u2019s three people in the company.<br \/>\n9:34<br \/>\nAnd he just wants to for convenience, wants to add another partner.<br \/>\n9:39<br \/>\nWell, all you do is go to the bank, abstract documents that I\u2019ve given you, and copy the page.<br \/>\n9:45<br \/>\nYou literally opened the document on the computer, and you copy that page and paste it into another file.<br \/>\n9:51<br \/>\nAnd you replaced the name of the original sinar with the new additional signer you want to add.<br \/>\n9:58<br \/>\nYou print that out, you sign it.<br \/>\n10:01<br \/>\nThen you take that to the bank with your all your KYC information, your ID, your documents, and whatever. And you just tell the bank, you want to add an authorized user to the account, or a new seiner, or however you want to do it.<br \/>\n10:13<br \/>\nIt could be authorized user. However, you guys want to set that up, but that is literally what you need. You just need to show some document. That\u2019s going to authorize you to be signing in behalf of the account holder, which is your LLC. Now, it\u2019s not so much that the bank.<br \/>\n10:28<br \/>\nnice to see that that person has permission. That is part of it.<br \/>\n10:31<br \/>\nBut really, once you\u2019ve provided a document showing that you have permission, the bank is going to accept that at face value, because now the bank is not liable for whatever happens afterwards, because it has, it has the right to rely upon your written authorization, presumably that was issued with the authority from your company, right. So you would think, Gosh, it\u2019s so simple, I just write up a document and give it to the bank.<br \/>\n10:55<br \/>\nYeah, because now, the bank is indemnified for anything that\u2019s whacky, that\u2019s not supposed to happen on that account.<br \/>\n11:01<br \/>\nYou You\u2019ve already expressed the authority was given.<br \/>\n11:04<br \/>\nSo, it\u2019s on you now, OK, it\u2019s pretty simple.<br \/>\n11:09<br \/>\nHere\u2019s another way.<br \/>\n11:11<br \/>\nThese are getting a bit more sophisticated We\u2019re going to end here with the PMA, and everybody was talking about that. I\u2019m gonna talk a little bit about taking profits too, but we\u2019re gonna, We\u2019re going to do some more videos as well on the profits.<br \/>\n11:21<br \/>\nBut you can use A I\u2019m going to call it a third party black box.<br \/>\n11:27<br \/>\nNow there are many variations of this.<br \/>\n11:29<br \/>\nI can literally take a black box.<br \/>\n11:32<br \/>\nMaybe it\u2019s a shoe box. Maybe it\u2019s a vault.<br \/>\n11:34<br \/>\nI don\u2019t like to use a vault because it\u2019s too conspicuous, right?<br \/>\n11:39<br \/>\nPeople get curious. It\u2019s evolved, right?<br \/>\n11:42<br \/>\nI\u2019d rather use a shoe box, or a box that can be sealed, and then it can be sealed with a plastic seal, but is tamper proof or self tamper? it\u2019s called Tamper Evident, OK?<br \/>\n11:54<br \/>\nThere are those types of seals, sea UCLA, black box, and you can take it, too, a law firm.<br \/>\n12:01<br \/>\nNow, I\u2019m not saying I like to use law firms for two things: third party Custodian custody of valuables, third party custody of information and attorney client privileges.<br \/>\n12:14<br \/>\nI don\u2019t, I don\u2019t like to use them as, as much as I can avoid it, OK.<br \/>\n12:19<br \/>\nIf I take my black box and I\u2019ve sealed it, I document all that, and I delivered to a law firm and have a contract with the law firm. Now, not all will do this.<br \/>\n12:27<br \/>\nThe contract says, basically, If certain conditions are met, and a person shows up, or this one of these two people appear or contact you, and they ask you for this box, and they give you this certain information, you are to give the box to them.<br \/>\n12:42<br \/>\nThat\u2019s it. They don\u2019t need to know what\u2019s in there. It could be an envelope too.<br \/>\n12:47<br \/>\nUm, then, in that box, may be access to the combination to a safe or there may be a key in there or something. You can use your imagination.<br \/>\n12:57<br \/>\nThis is another way to get access, where, again, we\u2019re not trying to use the court system directly and put everything in writing, it doesn\u2019t always have to be in writing, it just could just be an arrangement, OK.<br \/>\n13:12<br \/>\nLet\u2019s say. All right, so let\u2019s talk about real quick And I will go into some detail later, but let\u2019s talk about taking profits.<br \/>\n13:18<br \/>\nLet\u2019s say I want to take some money out, um, of my, my company and I want to buy something for myself, but I don\u2019t want the tax liability, so I\u2019m going to take out $50,000 and buy a car. I literally would go make sure my LLC has $50,000 in there. I don\u2019t care how it got there. Maybe I sold some coins, right?<br \/>\n13:36<br \/>\nI would literally go to the dealer and do like I always do, talk to the dealer and make my price and then I would just tell the dealer. 1 of 2 things I could say.<br \/>\n13:45<br \/>\nI have a lender, and here\u2019s the Lenders\u2019 name, and here\u2019s the Letter\u2019s tax number and address.<br \/>\n13:52<br \/>\nSo here\u2019s, I would go back to the bank. Once they get My, My price, I would get my certified fund check, or I would wire the money to the dealership, I\u2019d come back there, sign the papers.<br \/>\n14:02<br \/>\nAnd then what the dealer would do is write up the documents to show that my LLC, if I wanted to do it that way, is the lender.<br \/>\n14:08<br \/>\nAnd whatever contract I workout, I just tell them what the terms alone, or I can just make those up on the fly. That\u2019s not complicated.<br \/>\n14:17<br \/>\nHe doesn\u2019t, it doesn\u2019t, he doesn\u2019t care if you\u2019re the owner of the company or you\u2019re signing for the guy. He doesn\u2019t care about all that stuff. All the noses.<br \/>\n14:24<br \/>\nHe\u2019s going to sell a car.<br \/>\n14:25<br \/>\nYou\u2019ve already told who the lender is. It could be your Uncle Bob for all he cares, alright.<br \/>\n14:30<br \/>\nSo he\u2019s going to write up the documents and file it with the DMV.<br \/>\n14:33<br \/>\nPresumably, you\u2019re gonna get the plate. He\u2019s gonna get the plate All registered, and things like that. They\u2019ll file a certificate of title with a lien holder on there.<br \/>\n14:40<br \/>\nAnd then the company, the LLC will receive the documents at the address you gave the dealer.<br \/>\n14:48<br \/>\nSo just make sure that the company can receive mail at the address, you give the dealer, and that\u2019s it. Now the car is in your name.<br \/>\n14:55<br \/>\nInsurance, is all the same. It\u2019s easy, easily done, and you have a lien on the car. That\u2019s alone.<br \/>\n15:00<br \/>\nSo you would just make a, keep a record that you\u2019re making those payments.<br \/>\n15:04<br \/>\nThe other one, of course, you can do it like this, you can go in there and say, I\u2019m gonna buy a car. I\u2019m gonna pay cash for it.<br \/>\n15:09<br \/>\nAnd then when you take the title, just tell the dealer how you want the title to be written, So an easy way to do it is to make up the name of a trust and then end that name with the word trust.<br \/>\n15:21<br \/>\nSo it could be 52nd Avenue trust.<br \/>\n15:25<br \/>\nI just made that up, OK. It could be Bill Smith Trust, you could do whatever you want. It\u2019s a trust, he might ask you for a trust document, if that\u2019s the case. You can be prepared.<br \/>\n15:35<br \/>\nBasically, it just shows who the trustee is.<br \/>\n15:37<br \/>\nWhen that trust is formed, you know, just a basic document. A lot of times they don\u2019t care. They\u2019ll they\u2019ll put the name. You can even use a fictitious name. That\u2019s what I usually do is I use a fictitious name. So that\u2019s another way to do it. I just don\u2019t like using cash because it brings in reports extra reports to the IRS and it causes them to scrutinize the transaction and then today everyone\u2019s a suspect and money laundering. So you\u2019d have to answer about that and it\u2019s just hassles sometimes.<br \/>\n16:03<br \/>\nSo you can do how you want.<br \/>\n16:05<br \/>\nThose are the two simple versions of buying a car, and, yeah, you can use your LLC, That\u2019s investing in her kryptos or your business or whatever else, and on the other side, when you take the title, decide how you want it to appear. You can structure however you want.<br \/>\n16:20<br \/>\nOK, the other question I get a lot about as, um, when I, when I deliver these documents and we start talking.<br \/>\n16:27<br \/>\nThe other question I get is the private membership association that I\u2019ve named as the owner now.<br \/>\n16:34<br \/>\nYou may not have exactly that. Some people do, some people don\u2019t. I\u2019m funding a lot of people like that idea but the PMA is something that you\u2019re already part of.<br \/>\n16:41<br \/>\nAnd it could be a family.<br \/>\n16:43<br \/>\nYour family is an association, and as it turns out, it is a private membership association, just because I couldn\u2019t be a member of your family.<br \/>\n16:52<br \/>\nThere\u2019s no way I could do that, right? It\u2019s, it\u2019s a family, because it\u2019s biological. It wasn\u2019t formed, because someone wrote a series of words on some documents, OK.<br \/>\n17:01<br \/>\nSo the association exists because you have an association with other people, under certain conditions.<br \/>\n17:10<br \/>\nI just gave it a name, I can call it anything I want.<br \/>\n17:13<br \/>\nI call it John Smith, if I want.<br \/>\n17:15<br \/>\nSo a lot of times, I will name the PMA, the client\u2019s name I\u2019m working with, and I\u2019ll just put \u2026 after his name.<br \/>\n17:23<br \/>\nSo that designation changes the entity, OK? It changes the person.<br \/>\n17:27<br \/>\nIt\u2019s a completely different thing, then just John Smith, all right?<br \/>\n17:32<br \/>\nAnd so the example I give people as the PMA is your family, right? So then we can talk about, like, for example, 1, 1 time I did, one, for recently. It was partners, and I just simply took the partnership agreement they already had, they already had. they were already working on through whatever they were doing. They already agreed on terms, and I said, OK, let\u2019s call that a PMA, and I just incorporate that into there.<br \/>\n17:55<br \/>\nCompany and I didn\u2019t really change anything.<br \/>\n18:00<br \/>\nNow I don\u2019t have to do that, I can just name a PMA as the owner, and I\u2019m good, because no one gets to investigate who owns the PMA.<br \/>\n18:07<br \/>\nBecause for all we know it\u2019s your family, which could be 57 people.<br \/>\n18:12<br \/>\nFor all, we know, your association, that you\u2019re describing, that your naming could be everybody who\u2019s right-handed in your neighborhood.<br \/>\n18:21<br \/>\nThat could be 150 people, right?<br \/>\n18:23<br \/>\nWho knows.<br \/>\n18:25<br \/>\nSo, it\u2019s, it\u2019s for you to decide, and you don\u2019t have to tell people, because of the way we\u2019re using it.<br \/>\n18:30<br \/>\nIf you want to use this, to actually get into contracts with third parties, then you\u2019re gonna need to come up with some more documentation. Because that\u2019s just how the world works, OK?<br \/>\n18:41<br \/>\nUsually, it\u2019s going to be like that. So here\u2019s what you do.<br \/>\n18:44<br \/>\nLet\u2019s say you want to have, you want to take this \u2026 idea and you want to develop it out a little bit, You\u2019d like the idea that you can manage property inside your family, for example.<br \/>\n18:54<br \/>\nAnd then, um, maybe you want to document what arrangements you have. Just so there\u2019s no hard feelings, right? Everybody wants to know what\u2019s going on. And I\u2019m not going to forget, OK, and maybe two of us are making these decisions, and then 15 of us are going to be affected by it.<br \/>\n19:09<br \/>\nSo let\u2019s write a set of terms or conditions or description as to what we want to happen with the property rights that the PMA owns.<br \/>\n19:18<br \/>\nSo that could be stock in your company That could be shares in your LLC because, you know, if the PMA owns your LLC, it owns all the value of the company 100%, right?<br \/>\n19:28<br \/>\nAnd so I can write up a series of articles as to how that works, how how it would ever be dissolved or sold, or who has what rights, because maybe there\u2019s actually three interested people in that PMA.<br \/>\n19:39<br \/>\nAnd so the Articles of the PMA would would say, who has what authority to act on behalf of the PMA, It would say, Who has what interests? And this is a document that you don\u2019t give to anybody.<br \/>\n19:50<br \/>\nIn fact if you\u2019re asked for it, I would say it doesn\u2019t exist.<br \/>\n19:55<br \/>\nSo you could develop this out. So let\u2019s say you didn\u2019t do that. Let\u2019s say I deliver you the final documents and you get your accounts up.<br \/>\n20:00<br \/>\nEverything\u2019s working great, and then a year from now you say to your two family members and your business partner and you\u2019re all kind of working together on something and this is all drawing you together. It\u2019s like this is where you are.<br \/>\n20:13<br \/>\nThis is where you\u2019re connected you. You all been using this LLC and the PMA owns it.<br \/>\n20:17<br \/>\nAnd so you come to me and say, Hey, we would like to develop this PMA out into something a little more formal. We\u2019d like to write out some articles. So yeah, there are some standard articles that you would put in any organization.<br \/>\n20:29<br \/>\nSo what I would tell you is this: Let\u2019s, let\u2019s write down your relationship so far for the last year. What have you been doing?<br \/>\n20:38<br \/>\nWho signs the bank account? Who\u2019s the person that deals with the money? Who\u2019s the person that does the accounting?<br \/>\n20:45<br \/>\nWho\u2019s the person that makes purchases? Who\u2019s the person that does that?<br \/>\n20:48<br \/>\nYou know, so we have all these things that you have already been doing, so those are the things that should go in your written PMA, So you could let you could let that develop organically just by what you\u2019re doing. You could do that and your family to: you know, everyone in the family has a certain role. Someone does a certain thing, because no one else wants to do it, or whatever. He\u2019s good at it.<br \/>\n21:08<br \/>\nSo, if you wanted to develop a PMA into something called an estate plan, or not even really an estate plan, but more like, a plan as to what to do and a certain under certain conditions, right? And you want to put that in writing, because maybe, who knows? You want to put that in writing because you won\u2019t lose your sanity one day. And you\u2019re not gonna remember or you\u2019re gonna get Alzheimer\u2019s or something Right.<br \/>\n21:27<br \/>\nSo you put those things in writing and the way where you would start with that is what you\u2019re already doing.<br \/>\n21:33<br \/>\nSo, just describe what you\u2019re already doing in writing, keep it simple paragraphs, or write down what you expect to be doing.<br \/>\n21:43<br \/>\nOK, it\u2019s new and I\u2019m going to be thinking ahead and new PM me, I just got this a week ago, I get it, I understand, this year, I\u2019m going to be doing the following thing, OK, and then you would put that in there and you can always change it.<br \/>\n21:57<br \/>\nAll right, so that is some basic information, I\u2019m gonna make this available to people that have, you know, ordered a, an LLC for me. And this content is also going to be, of course, part of the membership. It\u2019s not going to be available to everybody. Just want to let you all know that. So, I hope this helps answer a lot of things. If it\u2019s generated some more questions, please ask me. I will definitely be doing more videos on this content. All right.<\/p>\n        <\/div>\r\n    <\/div>\r\n\r\n    \r\n<\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-eaad386 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"eaad386\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5d4a935\" data-id=\"5d4a935\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5c4019d elementor-widget elementor-widget-spacer\" data-id=\"5c4019d\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-f31d97c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f31d97c\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-25ebd1a\" data-id=\"25ebd1a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1af2263 elementor-widget elementor-widget-text-editor\" data-id=\"1af2263\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><strong>Summary<\/strong><\/p><p>1. John Jay explains how to manage access to your limited liability company (LLC) account and third-party accounts like banks and exchanges.<br \/>2. He advises that it&#8217;s not necessary to add a spouse to an LLC account, instead recommending having a single signer to maintain privacy.<br \/>3. John Jay suggests ways to share access to an account without altering official account information, such as giving a family member access to a debit card.<br \/>4. He warns against relying on attorneys or courts to resolve disputes, encouraging people to handle such matters independently whenever possible.<br \/>5. John Jay discusses alternatives for account access, such as utilizing an authorized user or using a signature stamp.<br \/>6. He provides guidance on how to add a new signer to an account, involving copying certain documents and showing them to the bank.<br \/>7. John Jay introduces the concept of a &#8220;third-party black box&#8221; \u2013 a secure storage for crucial information, possibly held by a law firm, which can be accessed under certain conditions.<br \/>8. He explains how to extract profits from an LLC for personal use while avoiding tax liabilities, such as buying a car through the company or using an invented trust.<br \/>9. John Jay discusses the PMA (Private Membership Association), explaining that it&#8217;s an association of people under certain conditions, which could be used to manage property within a family or other group.<br \/>10. He encourages documentation of the terms or conditions of a PMA for transparency among its members but advises against sharing this document externally.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-0672222 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"0672222\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-42bf590\" data-id=\"42bf590\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>U10 \u2013 Acct Access, Taking LLC Profits &#038; the PMA<\/p>\n","protected":false},"author":131,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[124],"tags":[],"_links":{"self":[{"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/posts\/10361"}],"collection":[{"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/users\/131"}],"replies":[{"embeddable":true,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/comments?post=10361"}],"version-history":[{"count":6,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/posts\/10361\/revisions"}],"predecessor-version":[{"id":25192,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/posts\/10361\/revisions\/25192"}],"wp:attachment":[{"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/media?parent=10361"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/categories?post=10361"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/tags?post=10361"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}