Posted by Don Dion on August 21, 2005 at 20:38:32:
Please explain to me why you would want to put the properties into an LLC. Unless you have additional investors in a group where you want to pay out dividend’s there is no reason to put the property into an LLC. You will have no more protection from law suit’s using an LLC then you will by just putting the properties into trust. With a trust even if your other investment’s were to go south and you were about to be filed on all you would have to do is file with the trustee an assignment of beneficial interest in the trust to another family member.
If you just use an LLC then all the properties are at risk if the corp unbrella is pierced by a law suit.
You would be better off since your an investor running all this past your real estate attorney. He will be able to advise you on the best way in your state to hold and protect property.