Should I create a LLC for rental property?

We are looking to start buy couple rental properties and we were wondering if its good idea to create a LLC or not.

Asked by Chris

1 Answer

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Answered by Michael Hoffman, RFC, CLU, ChFCPRO+ in Grass Valley, CA
Hi Chris, I think it is a good idea to create a legal wall of some protection between your personal assets and your business assets. A LLC is an excellent way to do so. While you are thinking about legal tools, you may want to make sure that you have a living trust in place for estate planning. The share of the LLC should likely be held in the name of the living trust so as to avoid probate on this as well. | 09.22.14 @ 21:12
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$commenter.renderDisplayableName() — {comment} | 12.03.16 @ 00:33
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