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Updated over 1 year ago,
LLC and Trust Question
A twist to the old LLC vs. Trust question. I have four properties, all set up in separate LLCs. I recently created a Revocable Trust for my family to hold all of our assets and avoid probate along with protecting my assets.
My attorney is telling me to put the LLC's in the trust. I'm thinking if I do that I negate one of the purposes to the trust. The idea is if a tenant tried-to come after me (not negligence related) they wouldn't have anything to-go after other then the LLC. If that LLC is in a trust doesn't it give them access to everything else in the trust?