I'm an attorney and used to work for a bank. One of the hats I wore there was Anti-Money Laundering Officer. We had a potential client with this type of arrangement that went through several countries so I insisted on getting more and more information because it seemed suspicious that someone would go through all of that trouble unless they were doing something illegal. It turned out the gentleman traveled internationally quite a lot for business... and had accumulated three different families on three different continents. His revocable trust owned several LLCs as part of a complex plan to facilitate payments to all of his wives and children upon his death without them finding out about one another.

I regret that I wasn't privy to his plans for keeping them apart at his funeral.

I am not a lawyer, but I know people who have done it in the past. The states where you can do it value corporate privacy. When you create your LLC with a revocable trust, as far as I am aware, all you have to present is the first page of the trust document and the declarations of ownership are on later pages, the trust owns the LLC, you own the trust and your ownership is never recorded in public. It's complicated and is a great tool for people trying to do good (protecting identity for safety) and bad (patent trolls).

https://www.thebalance.com/pros-and-cons-of-revocable-living...