LLCs vs owning as a private individual

[Nicolas Beck]

Hi, 

i own several rental properties under my name (as a private individual). Frankly, this sword above my head is not a pleasant sight. I am looking to get out of this situation and was told by some people to:

- Set-up an LLC

- Transfer the title of the properties to the LLC and keep the mortgages under my name (because it would be too hard/costly to transfer the mortgages to the LLC)

and all will be good!

But other people tell me that if the mortgage of the properties is still under my name, it will defeat the purpose of having an LLC and that I should be better off with a very good umbrella policy

I am a totally newbie on the matter and do not know who is right and who is wrong. 

Can anybody help?

Tks,

Nicolas

[Christopher Smith]

The sword over your head is more illusion than reality.