All Forum Posts by: Rob Newsom

This seems like the exact question I have been struggling with, but perhaps I'm a bit more ignorant about the whole process (still learning though!).

Thank you @James Miller for this response.  Can you clarify one or two things please?

You say, "have a trust own the LLC and the LLC operate"... in this case, who owns the real estate property? The Trust, LLC or the individual investor?

I set up an LLC for a rental property I purchased last year, and I'm learning that I cannot simply transfer ownership while my loan is outstanding (Due on sale clause risks, insurance policy complications, etc...). Therefore, the property is currently held in my personal name. The LLC that I set up is member managed by my wife and I only. I am using the LLC to "operate" (I think).

I have set up a credit card and banking account for that LLC and I deposit all the rental income into that account and cover expenses from money in that same account. My lease states that the LLC is managing the property for the current owner, however I am still the owner listed on the deed in the county records.

I would like to set up a better structure for asset protection.  Using the example you gave above, how would I go about this?

Set up a trust for the property? Who is the Trustee? Who is the Beneficiary? Does this add protection of my properties from personal lawsuits? Does this offer protection of personal assets from claims against the LLC?

Sorry for the long post! Thank you in advance for any time/help you are able to give!