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Updated almost 4 years ago,
Considering Irrevocable trust or LLC
Hello All,
Background: Two rentals; a duplex and a sfh. No mortgage in neither, personal home also no mortgage. Own also investment accounts, zero debt. All my assets are in my name and have about $2,000,000 in insurance between liability and umbrella.
I want to protect assets from tenants (obviously) but also from future wife if I ever get married.
My brother lives in Spain (not US citizen but I am) and he can be the trustee as I fully trust on him (my assets are all assigned to him in my will anyway).
I considered LLC for rentals and a prenup if I ever get married but it looks to me an irrevocable trust is better?
Please please please don't just tell me to get advice from a lawyer. I will get advice from a lawyer but now I just want to know if I better hire a lawyer for an irrevocable trust or I pay the initial attorney consultation for an LLC.
Thanks for your help