All Forum Posts by: Ketan Pandya

@Steve Hall

Thank you for the quick response. I read your responses and I concur with them. I was fine with 'Pour Over Trust' until I read this line "The pour over trust terminates at the death of the donor or trustee and all assets go back to the estate and must go through probate.".

In any case, like you said, need the right attorney who can guide us through it. Right now, it feels like a kid in a candy store.

thank you,

KP

@Steve Hall @Nina Grayson

Thanks for sharing your experiences. I have generally had great rapport with the attorneys. I just feel like the more I research on BP forum and on the internet, the more I am getting confused. I was hoping some of the more experienced investors on this forum have gone through what I am going through now. And possibly, suggest a solution to this opportunity I have. I see the following options in front of me:

1. Leave it as-is. (ie. rentals are in my name)

2. Add an umbrella insurance policy for my 4 rental properties

3. Deed my 4 properties to 4 land trusts (one for each property). Create 4 LLC's (one for each property) and add each LLC as a beneficiary to the corresponding land trust. Finally, create a lien(HELOC) through another LLC to strip the equity I have accumulated so far.

4. Same as #3. However, create only 1 LLC for all 4 land trusts. And add this LLC as a beneficiary to each land trusts.

5. Is there another way to achieve liability protection/estate plan and minimize tax liability?

thank you!

Hello fellow investors, I have 4 rental properties in my own name for a while. I still have mortgages on them. And I would like to move them into an LLC through an attorney. I have LegalZoom and LegalSheild memberships as well. There are several attorneys online out there. And also I have talked to a few attorneys in my local area. However, I do get conflicting views, opinions and information on what/how I should accomplish my goals around liability protection, tax liability and anonymity. Wondering if anyone on this forum has any suggestions on finding the right attorney (as opposed to the best attorney out there).

I am a newbie and don't want to spend a whole lot by hiring a high profile attorney,

thank you!

KP