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Updated over 5 years ago,
How to structure holding company of my rentals
Hi all,
I went to have a living trust drafted for my personal home and vehicles and asked the attorney if I should add the living trust as beneficiary of the holding company that owns all my rentals (holding company is just owned by me at the time). He actually suggested that I make the living trust as owner of the holding company.
I can see his point that it would provide an extra layer of protection if a tenant were to sue me however I don't like the fact that I could be putting my personal home and cars at risk. That plus I'm losing the anonymity of where I live and what I drive.
What do you guys think, make the living trust the owner or beneficiary of my rentals' holding company??
Thanks so much!!!