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Updated over 2 years ago,
Asset protection- best way to hold a few paid off homes?
My wife and I are nearing retirement and own a couple of homes that are finally paid off and we want to keep them long-term. So this is simple. No partners, no mortgages, nothing funky. We are looking for the best way to hold our properties for the long haul - the safest way as far as asset protection. Trusts, land trusts, LLCs, Series LLCs, - tons of options. We have lots of insurance, and see Anderson Ads and are near a KKOS office- things I have read about. Our #1 goal is to simply hold our property safely where they can not be sued away from us. We also have a S CORP for our business of 25 years ...we just want each asset to be protected from something gone bad with another asset. (For example an employee of the S corp drives his company truck into a crowd of people and we get 25 lawsuits and they try to come after everything we own). We have a lot of insurances, just want ideas on how to hold assets for the long term safely. All assets are in Idaho. Thanks in advance.