Asset protection guidance

[Vidit Maini]

Dear BP community,

I am a 50 year old immigrant and have worked hard to make a life for myself.  I have a net worth of ~2-3M in the form of a primary, secondary home, a rental property, and savings/CD accounts and a W2 FT job. I intend to embark on a business venture which is high risk and high reward. Before I do so, I want to take steps to protect my assets. The nature of the business will be such that lawsuits and claims are expected. I am consulting anderson advisors but not convinced that I should hire them. I am requesting you to share your suggestions on which vehicle i should use to protect below assets. I know I am asking for a lot but my experience at BP has been fabulous and the knowledge I have received from this forum has been so much wiser than any professional I have come across (yet). If you have names of attorneys you can recommend , that will also be of immense help. Thanks in advance and God bless!

1) Primary home - GA - titled to me - Trust or LLC or both

2) Secondary home - GA - titled to spouse - Trust or LLC or both

3) Rental property - GA - titled to me - 

4) Savings/CD Accounts - 1M - GA 

5) W2 income  (self and spouse)

Thanks,

Vidit

[Bjorn Ahlblad]

2 things I would suggest that I have done for myself to protect my assets. Carry sufficient liability insurance to protect your assets and net worth. Master the numbers associated with your venture and all REI. Don't rely on information provided to you and interpreted by others-can't stress this enough. Congrats on what you have accomplished so far, and all the best in your undertaking.