i'm in WA, what's the best way to protect money inherited from France, about 2 million dollars, in a reliable way and on the cheap. with WY LLC, and with lowest possible tax

1. Using a Wyoming LLC can provide privacy and an extra layer of asset protection. However, when dealing with foreign inheritance, you must also consider IRS reporting requirements, especially with large sums like $2 million. One controversial approach is to transfer the inherited funds to the LLC, potentially shielding them from creditors and lawsuits, but this could trigger scrutiny from the IRS depending on how the funds are classified. Additionally, consider whether to set up a trust: while it may have upfront costs, it can offer robust protection and tax efficiency long-term. Ultimately, it’s essential to seek professional guidance to navigate the complexity of international assets and ensure compliance while aiming for the lowest tax burden.
2. While a Wyoming LLC does provide some level of privacy and asset protection, I must challenge the notion that this is the "best" or "cheapest" way to protect your inherited money. Transferring your $2 million inheritance into an LLC could inadvertently raise red flags with the IRS, especially if proper currency reporting isn't adhered to. Moreover, while paying for a trust could seem like a frivolous expense upfront, it often represents a more reliable long-term strategy for preserving wealth—from both a legal and tax perspective. A single misstep in safeguarding international assets can lead to unforeseen tax liabilities or loss of funds, so it may be worth investing in comprehensive legal advice to truly ensure you’re making the right moves—and potentially saving more in the long run. The rationale that the cheapest options provide the best protection may be shortsighted in this context.