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Updated about 3 hours ago,
Questions about putting property into an LLC for asset protection
Hi guys, I have some questions about putting property into LLCs/protecting assets, any information is greatly appreciated:
Question 1: my understanding is that an LLC needs to be actively conducting business in its registered state in order for the LLC protections to apply, otherwise a judge could potentially pierce the corporate veil. If I buy property in a state that I don't live in and put that property into an LLC registered in that state, will it be protected or does that LLC need to be conducting some form of business?
Question 2: Is it a good idea to put every piece of property into a separate LLC entity (1 for 1) or is it okay to put a few properties into the same LLC?
Question 3: Is there a better way to protect property besides an LLC, such as a trust of some kind?
Thanks again for any help on this.