People do that all the time, except that the name
belongs to an entity such as a company or a trust. You cannot own assets under the name of
another natural person. That would be
construed as fraud. The reason why
assets are put under and entity is primarily tax mitigation. People also do that to secure their assets
from their personal legal liabilities such as asset claims in a divorce,
bankruptcy proceedings, and other forms of asset seizure.
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