Irrevocable Living Trust, Revocable Living Trust, LLC?

[Priscilla G.]

Hello Investors,

My husband and I currently own investment properties in which we purchased individually, prior to our marriage. And we manage them ourselves. We are looking into developing a protection plan to protect us from two things: probate (upon death) and lawsuits. From my findings, it looks like LLC doesn't really provide protection against lawsuits and an irrevocable trust will only help avoid probate. Does anyone have any suggestions on what we should do to protect ourselves? We currently have an umbrella coverage policy. Thanks!