My Asset Protection Plan - Posted by Steve

Posted by Steve on January 12, 2004 at 09:38:31:

Asset Protection Setup ? How does this look.

I have nine homes with about 1 million in equity.

I have 4 of the 7 rental in 2 different LLC?s (these homes are paid for)

I plan on putting the other 3 rentals and my 2nd home into separate Land Trusts and creating 1 new LLC As a beneficiary to the 4 trusts.
I plan on buying the ?Land Trust? course from William Bronchick which I am under the impression would have all of the information I need to accomplish this.

I have a second equity line on my primary residence.

I am also planing on creating a second Land Trust with another new LLC as the beneficiary. This land trust will put mortgages on my paid for homes and 2nd s on the rest of them.

I also have 1 million umbrella policy which covers the 2 current LLC?s

Any comments?

Any body recommend a lawyer in the Atlanta that can review this? I have tried a number of lawyers in the area and they were clueless.