Looking for Advice - LLC & Trust creation

[Patrick Kucera]

My family will be going through some major life events this year (military retirement, relocation, new jobs) and wanted to ensure we're fully set up to protect our assets and leave a legacy to our children. We currently have 2 properties (1 SFH in FL and 1 TH in NJ) with a monthly + cash flow of around $1600/mo. Both have mortgages and I know the debt may be called upon creation of an LLC...something I'm going to look into possibly waiving. We will be moving to DE and purchasing our "retirement home" there. We have adequate insurance policies on each rental property as well as a $1M umbrella policy. We're looking into establishing a trust to hold all 3 homes to pass onto our 3 children, and also considering an LLC for the 2 rental properties. I've been reading a bit about both trust and LLC creation and looking for any guidance/recommendations for our situation. Thank you in advance for any perspectives!!